Housing, transportation and food are making us poor.
Living well in America is expensive.
The average rent, overall, is 1,200/month. But I know most people pay significantly more. The average mortgage is 1,275. Average food cost for a family of 4 is 1,000/month. Owning a car (car payments, insurance, gas, maintenance, etc.) is about 700/month.
The average salary is 5,100 per month (gross). Though obviously many live on a lot less. You can see how these Big 3 eat up most of your take home pay.
Here are some ways to reduce the Big 3 expenses.
Big Expense #1: Housing
Live with your parents or your family for as long as you can.
I lived with my parents until I was 27, then again from 32–34. This alone has helped me save anywhere from 40–60% of my yearly salary. It was the catalyst to me growing my wealth.
Refinance your mortgage to find better rates
You can save hundreds of dollars a year on interest and pay your debt off faster.
Get a roommate
When I did move out of my parents house the first time around, I had 2 roommates split a 3 bedroom…