How This 23-Year-Old Increased Savings to $100K a Year Early: Discover the Lifestyle Changes That Made It Possible!

Shelby Wright is a remarkable 23-year-old who juggles four jobs and runs her own business. She’s on the path to achieving her financial goal of saving $100,000 by age 25, having already set aside $75,000.

Wright’s journey began when she realized how much she was wasting on unnecessary items. This wake-up call led her to track her spending from the age of 18. By 2020, she was determined to change her financial habits. Today, she shares her strategies on social media to help others take control of their finances. She emphasizes living within your means and budgeting wisely.

Her current roles include a full-time position at Basketcase Gallery and part-time work as a social media manager, customer service rep, and property manager. Wright also runs a holistic health consulting service called “Rooted with Shelby” and hosts the “My Perspective” podcast, where she discusses wellness and life in your 20s.

Wright admits she used to overspend on various categories, including dining out and beauty services. By tracking every dollar, she realized that many of those expenses were not necessities. For instance, she cut back on spending over $1,000 a year on nail services and shifted to thrift shopping.

In romantic relationships, she manages her spending by setting thoughtful limits on gifts. To keep travel costs down, she shares expenses with her boyfriend. While she enjoys splurging occasionally, her focus remains on quality over quantity. She believes budgeting is about aligning spending with personal values, allowing for enjoyable moments without unnecessary guilt.

Recent surveys show that young adults are increasingly concerned about their finances, with 67% noting financial stress in their lives (Source: National Endowment for Financial Education). This resonates with Wright’s experience. She prioritizes high-quality groceries and is exploring further education, believing in investing in her future.

As she works toward her savings goal, she plans to use her funds for a future home and long-term investments. Wright suggests other young adults track their spending and make use of high-yield savings accounts and retirement plans. She emphasizes the value of learning about money management from books, podcasts, and conversations.

Surrounding yourself with people who share your financial goals can significantly impact your journey. Wright’s story highlights the importance of personal initiative, savvy budgeting, and making intentional choices in spending.

For more insights on budgeting for your future, check out resources from the National Endowment for Financial Education here.

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