One man saved 77% of his annual income by living frugally – and has only one plate, no TV and used the same towels for 11 years.
Bradley Alagna, 32, started making sacrifices after he was saddled with $130,000 in student loan debt and making just $12 an hour.
He managed to scrape together his monthly payments of $860 by not using his heat, not buying clothes and not eating out.
Now his debt still sits at $147,000 due to interest — despite Bradley paying $75,000 over the past 11 years.
And despite being able to save $250,000 by working eight jobs — earning him $115,430 last year — he’s still living within his means.
Bradley, a financial coach from New England, said: “I don’t see living frugally as a negative.
“The way I live today is the way I lived when I was making less than $30,000 a year.
“I am very pleased.
“I chose to be grateful for what I have.”
Bradley took out student loans to put himself through culinary school — not realizing the ramifications.
He was told when he was about to graduate in 2014 that his payments would be $860 a month.
Bradley said: “At that point when I sat down in the finance office I was like ‘it’s over’.
“There is no way I have a future or any quality of life.
“I had no idea the whole time I was at school I was creating all this mess.”
Bradley was also dismayed that most graduate baking jobs paid only $12 to $13 an hour.
His only option was to live as frugally as he could.
He said: “I was in a situation where I felt very out of control.
“What I control is how I spend my money.
“I never thought the debt would go away – but I thought if I just made sacrifices, maybe I’d be fine.”
Bradley stopped eating out, never turned on the heating and bought himself new clothes so he could make his full payments.
He said, “I didn’t buy snow boots when I lived in New York.
“I had high tops with a hole in the sole. I remember riding the subway in the snow in them.”
But by the time the next month would pass around his loan he would have accumulated the money he had repaid due to the 8% interest and compounded daily interest.
Despite paying about $75,000, he now owes $147,000.
Bradley said: “I felt punished for wanting a better education.”
After six years of struggling, the government halted repayments and interest on federal student loans during the pandemic — which lasted for three and a half years.
This gave Bradley a chance to finally start saving more, and he started hustling along with his non-profit work he was doing at the time.
He said: “I didn’t owe $900 a month, so I was able to pocket it.
“I’ve lived this way for so long that I would try to build savings and build security.
“It took 11 years – living completely naked.”
Now he works about eight roles and 70 hours a week and earned $115,430 in 2024 — and saved $89,134 of it.
He is a financial coach, content creator, “Fans Only” creator, dog sitter, crisis line responder, dancer, cleaner and landscaper.
Bradley said, “It’s stuff I like to do.”
In total, over 11 years, he could have saved $250,000 and could now afford to pay off his loans in full, but he chose not to.
He revealed that his loan, which is in his mother’s name, will be forgiven for 18 months under the Public Service Loan Forgiveness Program.
But Bradley still lives as frugally as he can. His student loan payments are now $915, and he spends $750 on rent, $52 on his electric bill, and budgets just $47 for social activities.
He said, “I am not contributing to the loss.”
He saves by hardly eating out – or if he does, he chooses the cheaper options. He has the same wardrobe since he was in college, uses only one plate, and still lives in his 450 square foot studio apartment.
Bradley said: “I don’t replace something just because there’s a little imperfection.
“My work clothes are the same ones I’ve had since college.
“I try to be conscientious about keeping my electricity bill low.
“I try to avoid the heat at all costs and avoid running the AC – I like the heat.
“I don’t give in to any subscription – I rest with YouTube.
“If my friends go to a restaurant, I go for the cheaper stuff – appetizers and takeaways.
“I have friends who understand what I’ve been through.”
When Bradley’s debt is wiped out, he still plans to live frugally.
He said: “I live my frugal lifestyle because I had no choice.
“My financial situation was extreme.
“Think about what your life could be like if you changed the way you think about spending.
“I’m trying to show people that I’m making this choice to build the life I want for myself.
“People think I’m wasting my life and it’s not a quality life.
“I’m glad to live this way.”
Bradley is thinking of buying a small house in the future.
He said: “I couldn’t be happier with a simple and quiet life.
“I have my happy ending.”
Bradley’s Monthly Budget –
Student loan payments – now at $915
Rent – $750
Grocery Store – $183
Car insurance – $84
Fuel – $59
Electric – $52
Entertainment – $47
Internet – $46
Gym – $10
Ways Bradley Saves Money –
– There is no shopping
– I hardly eat out or go for cheap options
– No health insurance
– There is no TV
– No subscriptions (eg Netflix)
#saved #income #pay #student #loans
Image Source : nypost.com