She wasn't stingy or poor. On the contrary, she had a proper job with a stable salary that could help her keep a comfortable lifestyle.
Michelle McGagh was a personal financial journalist in London. For ten years, she had spent a lot of money on luxurious yet inessential things. From expensive shoes, dresses, and fashion clothes to restaurants and eateries, cinemas, and so on, she had enjoyed buying stuff and going places that pleased her.
Source: @TEDxManchester
One day, she noticed that she had better reconsider her expenditure. Being a decisive individual, she urged herself to start a saving plan on Black Friday 2015. Her husband didn't think it was a horrible idea, so he agreed with her on what they should spend.
Source: tash
Besides necessary vital products and bills that were less than $2,000 a month to maintain decent living and working conditions, they didn't afford a bonus for luxuries. It meant no snacks, drinks, coffee, or meals out, no memberships in a gym or any kind of entertaining club, no movies at the cinema, and not even a holiday trip.
Source: @mmcgagh
Although her husband was afraid they would bail out because of the overly strict budget plan, McGagh proved the opposite: she was happy and satisfied with her new lifestyle. She went outside more often on her bike. Plus, she was glad to wear clothes she had almost forgotten in the bottom of her closet. All her jeans were well-worn until they were completely worn out with holes. Furthermore, she didn't go to barber shops even when her hair became messy. She revealed doing her haircut only once a year.
Source: @mmcgagh
Source: @mmcgagh
Soon later, she received sweet fruits for following her extreme guideline. Her disposable income grew, and she could finish paying her credit loans. On the one hand, her family and friends were supportive and happy for her. On the other hand, some people accused her of being miserly. They assumed she was confused between poverty and frugality. However, it didn't change her mind because she said she knew what she was doing.
Source: @mmcgagh
Source: @G_Champomier
Even winter couldn't stop McGagh. She managed to get through those cold, harsh months without buying new fuzzy coats, fluffy warm blankets, or hot, spicy snacks. Her extra financial outcome in that one year was for buying her friends a round of beers at midnight on Black Friday and a plane ticket to visit her grandpa.
Source: @mmcgagh
Finally, she had approximately $23,000 more than when she had started. She did some Ted Talks in Manchester and even had her own documentary book on that impressive year named "The No Spend Year: How you can spend less and live more". McGagh is still a big fan of biking, though she doesn't maintain the strict saving rules now.
Source: @sjdelagarde
Source: @ChrisRossRadio
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