A woman has shared how she saved her first £50,000 by the age of 25 - while working a full time 9am-5pm job. Kennie Bukky, who shares career and money advice online, revealed her top tips for achieving your savings goals.
On her TikTok page @Kenniebukky, she posted a clip speaking to the camera about her money journey. Text over the post read: "How I realistically saved my first £50k ($60k) by 25 from a 9-5 job."
In the caption, Kennie wrote: "Delayed gratification. l hope my transparency here can help or inspire someone to achieve their savings goal through a 9-5 job."
Introducing the video, she said: "I get asked a lot how I was able to save up £50,000 by the time I was 25 years old. I get asked a lot how I was able to save up £50,000 by the time I was 25 years old and go on to like buy a property, have enough money to buy a second property because the money kept growing.
"To be honest like I didn't do anything that special and I definitely didn't take the personal finance gurus advice of like ‘oh don't buy Starbucks, cancel your Netflix account’. No I didn't do none of that - I actually kind of enjoyed my life."
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In the clip, Kennie goes on to list the three things she did to save her money - and they're simple enough to follow along. Here's what she said.
The TikToker said: "The first thing - pay yourself first. At this point I was like 21, I was earning £28k - every time that money comes in, my salary, I'm cutting that in half - half of that is going straight into my savings and I am not touching that money.
"If I ever had to touch the money, now I owe myself money and I'm paying that back next month. That's how I was living my life for years."
Secondly, she added: "Number two - I was opting for high paying jobs, and when it came to my career I was like ‘okay cool so now I'm on £28k, the next job needs to pay me a lot more.’ So the next job paid me £40k and that's kind of like how I've been going and I've just been increasing and increasing my salary until I reached six figures.
"And I kept that same system of like, having the salary, keeping the half, and not touching it. And can you see how that would have just added up?"
Finishing up, Kennie said: "The third thing I did, because at this point, when I started earning the £40k, I was like, oh, you know, I'm on £40k, I'm 23. Let me go buy me a fancy BMW. So I did. I bought my fancy BMW. And that's a lifestyle inflation. Avoid that, because that will eat into your savings.
"So what I did, after a while, I was like, I'm selling this BMW because I was paying like £300 a month towards that. I wasn't able to save as much so I actually sold that BMW to avoid lifestyle inflation and then I was able to keep on saving.
"I think I've reached a point where I can actually buy a nice car but at that stage I really wanted to save a lot of money. My point is avoid lifestyle inflation because that stuff will creep up on you."
The video racked up more than 525k views, over 50k likes and hundreds of comments from viewers praising the advice or wanting more information. Clearing some things up in the comments section, Kennie confirmed that while she was saving, she continued to live at home with her parents - something she says was "a major key."
Kennie also added that she's worked across a number of industries, including banking, finance and financial technology. After university, she said she "got an entry level compliance role."
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Since then, Kennie has moved out of her parents' home and added: "I’ve moved out now and the only way to save that much is to earn more by up skilling and applying for higher paying roles!"
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