More Than 40% Of Companies Say Workers Have Asked For Higher Pay To Offset Inflation. Few Have Revised Salary Budgets

Inflation may be hitting new 40-year highs, but less than a quarter of U.S. organizations say they are revising their salary budgets due to inflation—despite many workers asking for raises or other actions to cope with higher prices, according to a new survey.

Mercer, the human resources consulting firm, surveyed more than 300 U.S. employers in March and found that 45% do not factor inflation into salary budgets. Less than 25% say they are making changes to their salary budgets because of inflation—yet 42% say workers have been asking them to take financial actions to help with rising costs.

Still, the survey found that nearly half of organizations say they will conduct additional salary reviews for either some or all of their employees as a response, a sign some may be growing concerned about losing workers if they don’t take action. A full 77% said dissatisfaction with pay or an offer of higher wages at another firm were the top reason they were seeing turnover among their ranks.

“Organizations are being cautious about setting a practice of paying primarily based on cost of living, as opposed to cost of labor,” Tauseef Rahman, a partner at Mercer, said in an email about the new survey data. He was referring to the way many employers make decisions about compensation, determining what people with certain job titles in specific regions are typically paid.

He’s not surprised by the disconnect between what employees are requesting and what employers have done so far in response. As Rahman says, “the concern is that organizations can create the expectation that pay is entirely based on cost of living, and not based on the cost of labor which has more to do with availability and demand of talent.” One challenge, he says, is that employers “might not have been clear with candidates and employees as to … [how] pay was being set.”

At the same time, Mercer’s survey also finds that 50% of organizations say they’re paying more than market rate due to the challenges they face finding and keeping employees, and 41% say they are implementing some kind of retention bonus.

Meanwhile, 60% of respondents reported seeing an increase in the number of counter-offers candidates are receiving, and about 30% say they are beating or matching counter-offers.

Josh Bersin, a human resources industry analyst, says he’s hearing from companies that inflation is having an impact. “Everyone I talk to is going through this re-evaluation, saying ‘you know what, we’ve got to add more money. We’ve got to reset salaries more often to adjust,’” he says.

“There’s a saturation point—you can’t compete based entirely on wages,” Bersin says. “But we’re at the point right now [of people saying] ‘I will not work for you unless you can pay me more money.’ So there’s this stair-stepping process going on, [where] everybody’s raising their wages a tiny bit at a time.”

“There’s this stair-stepping process going on, [where] everybody’s raising their wages a tiny bit at a time.”

—Josh Bersin, human resources industry analyst

Bersin thinks the Department of Labor’s data may be a little behind what’s happening within employers’ payrolls. Consumer prices rose 7.9% in the 12 months that ended in February, according to data the Labor Department released last week. At the end of the fourth quarter of 2021, the U.S. employment cost index showed that compensation costs for civilian workers increased 1% for the three-month period ending in December 2021, with wages and salaries increasing 4.5% last year.

While that is a two-decade high, Bersin thinks “wages are probably going up faster than the federal government realizes,” he says. One human resources executive he spoke with recently told him “we’ll issue a job offer on Monday, they’ll accept the job on Thursday … [and] they don’t show up. Over the weekend they got a job for 50 cents more an hour. It’s just that fast.”

Some companies are finding other ways to provide more compensation to people. For instance, Jonathan Johnson,’s CEO, says his company issued stock to a broader group of employees. The company’s research shows it is above the national average on pay in the markets where they compete for talent, Johnson says.

“You can’t spend your equity at the gas station, but it can help you create wealth and it maybe helps you save,” he says. The company also did not increase what employees pay for medical and dental benefit premiums this year.

Rahman says that where companies are offering raises due to inflation, they tend to be “targeted adjustments” that are based on things such as the competitiveness of pay, an individual’s performance, or business needs. Just “like inflation is complex and not a single number for everyone, pay adjustments are similarly complex.”

I am a Senior Editor at Forbes, leading our coverage of the workplace, careers and leadership issues. Before joining Forbes, I wrote for the Washington Post for more than a decade…

Source: More Than 40% Of Companies Say Workers Have Asked For Higher Pay To Offset Inflation. Few Have Revised Salary Budgets.



By Stephen Miller, CEBS

Employee demands are driving changes in compensation strategy as employers respond to labor shortages and surging inflation, new research shows. Pay data and software firm Payscale’s 2022 Compensation Best Practices Report reveals that 85 percent of organizations are concerned about rising inflation eroding the value of pay increases.

The survey gathered responses from management-level decision-makers at 5,578 organizations, mostly based in North America, from November 2021 to January 2022.

In January 2022, inflation was 7.5 percent higher compared to a year earlier—a 40-year high. The unprecedented jump in inflation rates has 85 percent of organizations worried that planned 2022 pay increases won’t be enough. At the same time, 76 percent of organizations faced labor shortages or difficulty attracting talent in 2021, and 49 percent said that voluntary turnover had increased compared to previous years.

The survey also highlights which benefits have become more common, such as:

  • A 25 percent increase for remote-work options (now being offered by 65 percent of surveyed employers).
  • An 8.3 percent increase in work-from-home stipends (offered by 15 percent).
  • A 7.7 percent increase for flex-time options (offered by 37 percent).
  • A 7 percent increase in mental health or total wellness programs (offered by 66 percent).

In addition, 40 percent of organizations said they were interested in location-based pay strategies with geographic differentials to determine pay for widely distributed workforces.

More contents:

Wages and Salaries Up 5% for Private Industry Workers in 2021, Less than Inflation

Revised 2022 Salary Increase Budgets Head Toward 4%

Turbulence Ahead: Will 2022 Break Compensation Budgets?

Surging Gas Prices Take a Bigger Bite out of Workers’ Wages

DOL Issues Guidance on Prohibited Retaliation Under FLSA and FMLA

Gender Pay Gap Improvement Slowed During the Pandemic

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The 10 Commandments of Salary Negotiation

The largest salary increase I’ve helped get was for a female FAANG executive: I helped her get $5.4M more on her offer. Through the process, it struck me that even though she was a senior leader everyone admired (you’d 100% know of her if I told you her name), she had very little knowledge of how to negotiate. Don’t get me wrong — she knew how to ask and be assertive, but she was much less comfortable “playing the game.”

And she’s not alone.

Regardless of how senior or junior you are, most tech folks struggle with negotiation. Partially this is because compensation is set up to be intentionally misleading. Partially it’s because sticking up for yourself is nerve-racking AF.

Here are the 10 commandments to negotiation I wish everyone knew:

1. Negotiation starts earlier than you think

Every recruiter worth their salt will ask about your salary expectations when you first start interviewing. Do not — I repeat, do not — give them a number.

What to do instead: Ask for the range they’re budgeted for the role.

How to say it: “Can you tell me the salary band for this level? Happy to let you know if it’s within my range, and we can discuss specific numbers later when I’ve met the team.”

Bonus points: If you’re junior/mid, time all your interviews so you get offers around the same time. If you’re senior, get some press before you start meeting folks.

2. Mine for intel during interviews

Go into the interview ready not just to answer questions but to ask some of your own. You will use this as ammunition to negotiate later. Here are a few examples of what you should ask:

  • What’s the biggest priority for the team right now?
  • Why is this role open?
  • What’s the biggest challenge for someone stepping into this role?
  • How does the org structure on the team work?

3. Don’t give in to the pressure

Once you’ve been offered the role, the recruiter’s job shifts from evaluating you to closing you. Most experienced recruiters will ask you again to put up a number for your salary. Clever recruiters may even tell you that they “will go to bat for you.” Yeah, no thanks.

What recruiters say: “If you give me your number, I will make it happen for you.”

What they mean: “I’ll get you something lower, but kinda close to what you asked for.”

4. At FAANG, your recruiter may have no say at all

At FAANG-size companies (i.e. over 5K employees), compensation is heavily formulaic. In fact, there is often a separate team — the “compensation committee” — who sets your salary. They take into account your background, interview performance, and level. They give the recruiter a number to go with. The recruiter then gives you the number, and every time you negotiate they have to go back to that committee to ask for a re-evaluation.

What do clever recruiters do? They get your number up-front to save some legwork.

Unfortunately, this may hurt your chances of getting more on your offer later. It also deprives you of some valuable data — where you fall in the level/salary band. If you get caught in this loop, quickly turn the tables: most companies will consider “new information,” like another offer, to reopen a negotiation. Don’t forget, an offer to stay from your existing company also counts!

5. Read between the lines

Your initial offer speaks volumes, if you know how to interpret the data. Here are a few scenarios you should consider:

Let’s say you’re applying for an L6 role at a big company.

Initial offer comes in low: The team may have felt that you have a lot of “room for growth.” In this case, my advice is to dig deeper and ask the interviewer to share feedback from folks who met you to fix any misconceptions before you ever negotiate. Telling someone you want more money because you’re “the greatest PM ever” while the team felt you were “meh” is not going to fly.

Middle of the road: You got “the number” (the medium opening number that’s basically a template recruiters use). It’s the most common opening offer — companies do this to reduce risk of lawsuits. Over 80% of people get it. It likely means you don’t have a strong advocate on the interview loop. Do not negotiate until you match with a team and you have a manager batting for you.

Initial offer comes in top-of-band: There was likely a discussion about giving you a higher level. Many times in this case, you can push for an “out-of-band” offer — essentially getting paid for an L7 while you’re an L6.

6. At a startup, the playbook is different 

You may be dealing with the founder directly. It’s very likely there is no range for the role, as smaller companies have much less access to salary data. The goal at the initial offer conversation is to understand three things:

That last one can be tricky because you need data the recruiter may be reluctant to give — the option strike price, preferred price, number of outstanding shares — and you need to understand how options work. At last, get ready to ask:

“What is the valuation based on?”

And get ready to not get a straight answer until you’ve asked five times (yes, this is normal).

TL;DR: Ask the questions an investor would ask because, *news flash*, you are now an investor — but instead of cash, you’re staking your time and earning trajectory on the company’s success. You can meet with the investors too; it’s 100% OK to ask for that when the company is early-stage.

Lastly, 2021 has been a weird year for startup compensation, so much of the data from previous years is unreliable. Remote work, abundant access to capital, and greater trust in international talent have skewed things quite a bit. Still, I find the Holloway Guide ranges to be a good starting point.

7. Your job is to win hearts and minds

It can be tempting to think you need to negotiate now that you have data. Nope, not yet. The next step, instead, is to upsell your worth before you come back with any kind of counteroffer. This is especially important if you’re going for a senior role.

What to do next: Ask for follow-up meetings with decision makers. If you’re a Director or higher, you can usually ask to meet with any VP and possibly C-level execs. VPs can often meet with the CEO and even board members. Take your time; this is important if you want your salary to reflect your value. If everyone wants you, you’ll be calling the shots later.

How to run these effectively: Come prepared with three things, tailored to who you’re meeting:

  • Questions about how you can create meaningful impact
  • Ideas based on your interviews so far
  • Bonus points: discussing obstacles to your taking the role and making them sell you on it

8. OK, now get some good data

Did you know that women make only 47 cents in equity for every dollar a man makes? A HUGE reason for that is that many women don’t fully evaluate their offer before negotiating. Let’s change that. Particularly if you are a woman, ask yourself these questions:

9. Comparing offers

Not all offers are made equal — in fact, they are intentionally confusing. At Google, you may get a front-loaded vesting schedule on your stock; at Amazon, sizable cash bonuses the first two years. It seems obvious that you should look at the comp, but that’s not everything:

  • Which company has a better trajectory?
  • How do promotions work?
  • Is your manager influential enough to pull for you when needed?
  • Is your product or team visible enough to get good resourcing?
  • What’s the company brand worth to your earnings trajectory?

TL;DR: Getting paid more up-front doesn’t always mean you’ll make the most overall. Plan carefully.

10. Time to make an ask

It can be awkward to ask for more money, but trust me, everyone expects you to do it. On top of that, it doesn’t help that so much of the advice out there is conflicting. Let’s set the record straight:

“I need a competing offer.”

MYTH: You absolutely do not need multiple offers. Just being able to say you’re speaking to other companies is sufficient — you can quote the expected salaries for other roles if needed.

“I need to provide copies of my other offers.”

MYTH: Nope, nope, nope (even though Google in particular loves to ask for them). You signed an NDA before every interview, so you can always use that as a reason.

“I should send the recruiter an email with my ask and justification.”

MYTH: Negotiating via email = MAJOR CRINGE and definitely a worse outcome. I know there are folks selling fill-in-the-blank templates out there. My advice if you want a meaningful/large increase is to have the conversation over the phone.

“If I find a number online, I can quote it as a reason to get more.”

MYTH: Nothing boils a recruiter’s blood more than “It says X on Glassdoor.” Compensation is an exact science — have arguments prepared that are specific to your situation.

“The best way to get more is to reiterate how qualified I am.

MYTH: You already got interviewed and everyone’s read your resume. That’s how you got your initial offer; now you need to build additional arguments. Use the information you collected during the interview about what challenges the team is facing — maybe that increases the scope of the role? Discuss why leaving your current role will be hard — are you critical to your current team? In other words: instead of asking for money, make them give you more money by bringing in obstacles the recruiter needs to overcome to close you.

“I need to be aggressive and threaten to walk if they don’t match.”

MYTH: LOL, let me know how that goes for you. My guess is you’ll get a mediocre increase worded as a “final offer.” If you want big moves, I’m talking $100K+ more, you need to collaborate with your recruiter, not make them an enemy.

As a final word of wisdom: Start with negotiating your overall compensation, not individual components. For example, ask for “500K” and then the next round ask “Can I have X more equity?” Then, when you’ve exhausted all other avenues, ask for a signing bonus. If you still need more help, you can always read our guide.

Now that you’ve got all these RSUs in your compensation…

If your new RSUs are more than 10% of your liquid net worth, you should make a plan to diversify ASAP. Holding a concentrated position can translate into greater portfolio volatility, which has been shown to reduce compounded growth rates and future wealth. At Candor we help you automate RSU diversification by converting your stock weekly, even during blackout periods. You can find us here.

Thanks, Niya!

Till next week, and have a fulfilling and productive week 🙏

🔥 Featured job opportunities

  1. Highlight: Founding Blockchain Engineer (Remote-Global)
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  5. Mynd: Product Lead, Internal Tools (Remote-US)
  6. CHPTR: Founding Back-End Engineer (Remote-US)
  7. Permutive: Senior Product Manager (NYC)
  8. CloudTrucks: Product Manager-Console (SF)
  9. Fairchain: Software Engineer, Full Stack (NYC)
  10. HomeLight: Senior Product Manager, Listing Management (SF, Phoenix, Seattle)
  11. Perfect Recall: Founding Fullstack Engineer (Waterloo)
  12. Spatial: Backend Engineer (Remote-US)

Browse more open roles, or add your own, at Lenny’s Job Board.


By: Lenny Rachitsky

Guest post by Niya Dragova, co-founder of Candor

Source: The 10 commandments of salary negotiation – by Lenny Rachitsky – Lenny’s Newsletter


Related Contents:


Average Fintech Salaries Are In The Six Figures


Fintechs have seen increased interest in light of digital trends accelerated by the coronavirus pandemic. Jobs at these startups can pay into the six figures starting out, and an opportunity to receive equity in the company, making them attractive prospects for finance industry newcomers.

McKenna Quint, head of people at Plaid, spoke to Business Insider about three tips that newcomers can use to help land a fintech job. Are you a young person working on Wall Street? Contact this reporter via email at, encrypted messaging app Signal (561-247-5758), or direct message on Twitter @reedalexander.

Visit Business Insider’s homepage for more stories.

Fintech is hotter than ever in 2020. The coronavirus crisis has only intensified interest in the growing financial technology space. From investors to traditional players, engagement with the startups has arguably never been higher.

In addition to growing demand for fintech products and services, another reason why the space may be so attractive is the earning potential it offers. Nationally, the average salary of a job in fintech, which, albeit, is a large and diverse field, is $113,359, according to ZipRecruiter. That’s higher than the average …read more




Whether you’re a bitcoin trader or new to the market, you can buy, sell, and trade cryptocurrency with AUD, USD, and other major currencies. We service clients globally, including Australia, the United States, Singapore, Canada, New Zealand, and Europe

As Employers Cut Coronavirus Hazard Pay, What About A Living Wage?


As more Americans emerge from their homes and resume their day-to-day routines, there is a new casualty stemming from the coronavirus — hazard pay.

To understand why, first we need to go back in time. When the highly contagious virus first gripped the nation, there was a prevailing sense by business owners that essential workers should be compensated for continuing to show up to work, particularly as much of America was staying at home. As a result, many employers opted to increase the pay of those continuing to work in the risky environment of the early days of the pandemic, deploying a practice commonly referred to as hazard pay.

But despite the fact that companies were lauded for paying more to their employees, it didn’t change the fact that many of the those individuals who are deemed essential workers, such as grocery cashiers, transit worker, package handlers, and food workers are often paid an hourly pay rate that makes affordable living difficult. So while the marginal increase in pay was a welcome development for workers who often struggle to make ends meet, there was always a sense that the hazard pay may be only temporary.

As states reopen, increasing numbers of companies are ending their practices of hazard pay. Some of the larger companies are in the process of phasing out the raises by the end of May, with the plan to return to pre-pandemic wages in June. For example, in mid-March Amazon increased pay for its warehouse workers by $2 and doubled overtime compensation, but the Seattle-based company plans to end the supplemental pay at the end of the month. Rite Aid ended its additional $2 pay on May 16th and other retailers such as Kroger, Starbucks and Target all plan on sunsetting their additional pay at the end of May — in some cases giving final bonuses to employees in lieu of continued hazard pay.

But even as the supplemental pay disappears, the higher risk conditions that necessitated them continue. While some states have seen a reduction of coronavirus cases, there are many states that have maintained a high number of infections even as states accelerate their reopening. The expectation that cases may rise over the summer as people loosen social distancing practices is also a risk. And then there is the research that shows that the chance of contracting the virus is higher depending on your amount of exposure – which is something front line workers might not be able to avoid.

But perhaps the most enduring risk for the employees who have received hazard pay is that many of them don’t earn a living wage in the first place. Researchers at MIT calculate that national living wage — the earnings that are needed to meet a family of four’s basic needs (two working adults and two children) — is $16.54 per hour, or $68,808 per year. But that number is much greater in urban areas, and cities like NYC ($93,851) and San Francisco ($94,741) require significantly higher living wages. For those earning only the federal minimum wage of $7.25 per hour, making a living wage is almost impossible.

While many companies pay workers higher than the federal minimum wage due to higher local pay standards as an as a consequence of the tight pre-pandemic labor market, the fact remains that most ‘essential’ American workers are woefully underpaid. In fact, some are so underpaid that they can’t even earn a living wage to keep their families supported while they risk their own lives.

Which is why now is the time to ask the question, why roll back the hazard pay at all? Understandably many employers are struggling in the faltering U.S. economy, but with over $1.3 trillion of worker income having disappeared since the start of the pandemic, more and more workers risk falling through economic safety nets. By cutting back, especially at a time of greater need, employers risk increasing the financial hazard of their employees, at the same time their work remains physically hazardous.

So perhaps rather than claw back hazard pay and further deepen an already historic level of income inequality in America, now is a time for employers to sustain the hazard pay they implemented early in the pandemic and convert it to a living wage raise for their employees. In a time when many people think the pandemic is changing things for the worse, this kind of support for front line workers would be one thing that could change for the better.

And that’s the kind of healthy change that can even be done without a vaccine.

Follow me on Twitter or LinkedIn. Check out my website.

As the founder of Applied Optimism, a business and community design lab, I help leaders of all types catalyze the shared purpose, knowledge, and wonder of their customers to strengthen and achieve their organization’s objectives. My 20 years of experience with global corporate and philanthropic organizations has made me passionate about the ways leaders apply optimistic and inclusive solutions to their most difficult challenges.




A proposed increase to the minimum wage “will have to go onto the back-burner for the next 12 months at the very least,” according to 6PR’s Oliver Peterson. The Australian is reporting “hundreds of thousands of low paid workers could have wage rises delayed for up to six months after the Fair Work Commission revealed it was looking at deferring minimum wage increases for stressed companies operating under the JobKeeper scheme. Mr Peterson said “the nation simply cannot afford an increase to the minimum wage right now” especially given “our minimum wage is the highest in the industrial world”.

The 6 Craziest Ways Millennials Can Save Money To Retire Early

saving, save money, investment, frugal, FIRE movement, Financial independence retire early

Financial independence, retire early.

It sounds like the dream. But it takes a lot of work to be part of the elite group of Americans in the so-called FIRE movement. While their counterparts were splurging at bars, they committed to save money from their corporate jobs…or even take on side hustles to build their income.

Inspired in part by the personal finance tome, “Your Money or Your Life” by Vicki Robin and Joe Dominguez, these millennials are pinching pennies in order to build up big nest eggs. The goal is to then live off their investments.

And while the end sounds nice – who doesn’t want a break from the office – the road there can be tough, with millennials in the FIRE movement saving anywhere from 60% – 90% of their paychecks.

From keeping a car from 2006 to saying no to out-of-state weddings, here are six resolutions for 2020 for some of the leaders in the financial independent, retire early movement. While some ideas might be a bit zany for you – like sharing your personal finance history with a friend – it’s helpful to see what the experts recommend.

Even if your goal isn’t to retire by 40, there’s something to be said about being frugal going into this new decade. Here’s some of the craziest ways FIRE leaders jumpstarted their savings.

Kiersten and Julien Saunders are co-creators of the award-winning blog, rich & REGULAR. On their platform, they document their journey through parenting, work life, entrepreneurship, real estate investing and their pursuit of financial independence. They can also be seen in the 2019 documentary, “Playing With Fire.”

Give yourself an allowance.

We stopped thinking of savings as leftovers. It’s a bit of a brain hack, but the idea is that most people do their budget and then use the leftovers as their baseline savings rate. This approach assumes that everything is savings until you spend it.

This is saving, but in the affirmative. So you’re starting with a 100% savings rate and any time you spend money you subtract a %. It helps you easily identify the areas of life you need to change to meet your goal. If your goal is a 50% savings rate but the moment you pay your car note, your 100% starting point drops to 60%, then you know the car is an impediment to the goal.

Julie Berninger is a 30-year-old new mom, blogger, and Etsy-seller living in Seattle, WA. Julie and her husband paid off over $100,000 of debt and are now saving towards financial independence. She blogs at Millennial Boss, interviews early retirees on her podcast, Fire Drill, and teaches others how to blog and sell printables for profit at Gold City Ventures.

Say no to out-of-state weddings.

I stopped saying ‘yes’ to out-of-state weddings and expensive events associated with weddings such as destination bachelorette parties. We sent a nice note and a gift instead. We prioritized the events where we were closer with the couples but avoided spending hundreds of dollars on weekend trips. We’ve not attended at least three out of state weddings since making this decision and I did not attend a destination bachelorette. I estimate that saved us a few thousand dollars total.

Tanja Hester, author of WORK OPTIONAL: Retire Early the Non-Penny-Pinching Way, is a former political communications consultant. Since retiring early from formal employment at the age of 38 along with her husband Mark Bunge, she devotes all her time to fun and purpose: writing her award-winning financial independence blog Our Next Life, podcasting on The Fairer Cents, gathering women together to talk about financial independence at Cents Positive retreats, volunteering in her community, traveling the world, and skiing, hiking, biking, paddling, and climbing around her home in North Lake Tahoe, California. Basically: living the dream.

Set up your paycheck to auto deposit into savings. 

Back when I was in debt and struggled to save any money at all, I decided to do new payroll paperwork at work so that part of my paycheck went straight to savings instead of checking, so I’d never feel like I had that money to spend. I started with $50 a paycheck, but you can do any amount. Especially if you get a raise at the start of the year, challenge yourself to live on what you earned last year and save as much of your new money as possible.

Sam started Financial Samurai in 2009 to help people achieve financial freedom sooner, rather than later. In 2012, after spending 13 years in investment banking, Sam decided to retire at the age of 34. He spends his free time writing, playing tennis, and taking care of his two young children. 

Talk about your financial habits. 

One of the best ways to learn is to teach. Therefore, of the best ways to elucidate your financial weak spots is explain your financial habits to someone close to you. Not only will you better understand your spending and savings habits, the person listening may also offer some constructive criticism. Get rid of complacency. Seek criticism to improve your financial health!

Mabel A. Nunez is the founder and Chief Investment Officer of Girl$ on The Money – a stock market investing education company targeted to women, minorities, and individuals that are underrepresented in the world of investing. Through courses and resources, she empowers women to take action towards wealth creation and to take control of their lives. 

Live frugally and keep your old car. 

In 2006, as I got started in my career after undergrad, I paid full price (less than $5,000) and bought myself a high quality used car to take me to work and back. My commute totaled more than 1.5 hours both ways, Monday through Friday. I am not ashamed to share that I drive the same car to this day. I am confident that this key decision allowed me to save and invest thousands of dollars over the years.

Kristy is a world-traveling, early retiree. She and her husband Bryce used to live in one of the most expensive cities in Canada, but instead of drowning in debt, they rejected home ownership. What resulted was a 7-figure portfolio, which has allowed them to retire in their 30s and travel the world. They now spend time helping people with their finances and realizing their travel dreams on their blog millennial revolution. Their also wrote a bestselling book “Quit Like a Millionaire.”

Embrace minimalism.

I grew up poor so hoarding was a big problem of mine. I wouldn’t even throw out empty CD cases (remember CDs?) just in case I might need them again. Luckily, before our one bedroom apartment turned into an episode of “Hoarders”, I realized how much money we’d be wasting by moving to a bigger apartment (our rent would have increased by 50%), so I started donating and de-cluttering our belongings, while making a pledge not to buy anything that wasn’t an absolute necessity.

This saved us a lot of rent – probably about $550 a month or around $6,600 by not upgrading to a two bedroom.

Follow me on Twitter. Check out my website.

Based in Lebanon, I cover travel and personal finance topics for millennials. I’m committed to a life of adventure and have lived in four countries before turning 30. My work appears regularly in Playboy Magazine, Outside Magazine and AFAR Magazine, among others. Before becoming a full-time writer, I was the founding Editor-in-Chief of StepFeed in the Middle East.

Source: The 6 Craziest Ways Millennials Can Save Money To Retire Early

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