Imagine this: In just six years, you could own a three-bedroom house AND have a cool £1 million tucked away for your pension! Sounds like a dream, right? Well, for Matilda Grace, it's a reality, all thanks to a disciplined approach and 13 financial rules she swears by.
Matilda, now 30, started her journey six years ago right after university, landing a graduate job that paid £21,000 annually. Growing up with a dad who always preached the importance of saving for unexpected events, Matilda was inspired to get a head start. "As soon as I got my first job, I started researching how to save cash," she recalls.
Moving to London at 24 with that initial £21,000 salary, Matilda's focus wasn't on chasing a higher income, but on mastering her existing finances. "For me, that meant getting very clear on budgeting," she explains. This dedication led her to develop a robust financial system, which she now shares on Instagram as @amillenialsaver.
"Everything I started to do when I came out of uni, I still do now," Matilda emphasizes. "I keep the habits consistent, and if I get a promotion, I keep that spare money for my savings or pension pot."
Last summer, her consistent efforts paid off beautifully when she had accumulated enough to make a significant deposit on her first home. "I'd saved all this cash and I was using a majority in one go," she shares, beaming. "But it is a great investment and it was so satisfying. I felt really proud to think all my hard work had gone to buying a house that I could call my own. It was such a nice feeling."
And don't think her frugal lifestyle meant missing out on life's pleasures! Matilda assures us she's enjoyed "good holidays and bought 'nice things'" along the way.
But here's where it gets controversial... Matilda believes the key to financial success isn't necessarily earning more, but rather mastering how you spend. "When we think about money, people often say they don’t earn enough. But actually, it is more about how you spend money," she states. "You can have an average salary and never have anything left over at the end of the month because you are getting takeaways twice a week or buying subscriptions you don’t use."
"The answer isn’t to earn more," she continues. "It’s not about how much you make, but what you keep. I didn’t win the lottery, I just got really intentional. And now I have a home, a growing pension, and peace of mind. That’s the real luxury."
Matilda's 13 Rules for Financial Freedom:
- AI-Powered Bill Negotiation: Matilda cleverly used ChatGPT to draft a negotiation script for her car insurance renewal, resulting in a £150 discount!
- The £850 Allowance System: The day after getting paid, all bills are automatically settled. The remaining £850 is her monthly allowance for everything – travel, food, shopping, and socializing. Any leftover goes into savings or investments, and she never overspends. Her Monzo app helps her track spending, ensuring it stays within the 'green' zone.
- ChatGPT for Smart Shopping: By asking ChatGPT for basic shopping lists and comparing prices across supermarkets, Matilda saves up to £200 a month. Plus, she uses it to generate meal ideas from existing ingredients, preventing food waste.
- Dodging Lifestyle Inflation: Matilda actively avoids the trap of increasing her spending when her income rises, keeping her habits consistent to ensure savings grow.
- The 'Money Date' Ritual: She "romanticizes budgeting" by enjoying a relaxing bath and a nice meal while reviewing her finances. This monthly ritual helps her plan for upcoming expenses and adjust savings goals for events like Christmas or holidays.
- The Power of Side Hustles: Matilda supplements her income by earning up to £500 a week through selling clothes on Vinted, participating in market research, and testing apps or websites, which can pay up to £60 per hour.
- Skipping the Starter Home: Instead of buying a small property, she saved longer for a three-bedroom house, envisioning it as a future family home.
- Savvy Shopping with Apps: Using an app like Dig, she found a desired Whistles coat originally priced at £200 for just £30 on Vinted.
- Maximizing Cashback: She utilizes cashback schemes and gift card discounts at supermarkets, saving between 1% and 15% on her grocery bills.
- Avoiding Financing: Matilda drives a ten-year-old Ford Fiesta bought for £3,000, saving thousands by avoiding car leases.
- Resisting Trends: She consciously avoids buying into fleeting trends in decor, fashion, or tech, opting for quality items that last and serve their purpose.
- The Humble Phone: Her £10-a-month phone does everything she needs, saving her thousands over the years.
- Strategic Investing: Matilda started investing at 24 using a tax-free stocks and shares ISA, which she used to contribute towards her house deposit, emphasizing that "money should work for you."
And this is the part most people miss... Matilda's success isn't about a massive salary; it's about intentionality and discipline. She proves that with the right mindset and consistent habits, significant financial goals are achievable even on an average income.
What do you think? Does Matilda's approach resonate with you? Or do you believe a higher salary is the only way to achieve such financial milestones? Let us know in the comments below!
