How a 24-Year-Old Sales Executive Saved £95,000 to Retire at 40

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The Frugal Lifestyle of a 24-Year-Old Influencer

Mia McGrath, a 24-year-old junior sales executive, has gained attention for her frugal lifestyle and impressive savings. She claims to have saved £95,000 towards retiring by the age of 40. Her approach involves cutting back on luxuries like takeaways, with some meals costing as little as £1. Living at home with her parents, she has managed to save significantly.

Despite promoting a budget-friendly lifestyle, Mia also runs a parallel brand as a model and lifestyle influencer. Signed with Memesis Models and W Model Management, she maintains a second Instagram account showcasing a more luxurious life, including holidays in Paris, Barcelona, and Corfu, nights out in Chelsea, and shopping sprees at Prada.

Mia is reportedly paid by major brands such as the BBC, American Express, British Airways, and Marshmallow car insurance to promote their products. However, the exact amount she receives remains undisclosed. She provides detailed breakdowns of her influencer profile, highlighting her audience reach, demographics, and engagement numbers.

Her social media presence includes a TikTok account where she shares personal finance and investing content. Mia often emphasizes her financial literacy, offering tips on how to achieve wealth early. She even provides links to online trading platforms, encouraging her followers to emulate her success.

While her main content focuses on financial education, her influencer brand showcases a different side of her life. This duality raises questions about transparency and authenticity. Social media marketing expert Hannah O’Donoghue Hobbs suggests that Mia should be more open about her earnings from brand partnerships.

Mia’s goal is to 'soft retire' by 2041 when she turns 40. This means working part-time or on passion projects rather than full-time employment. She has already accumulated £80,000 in savings, which she attributes to her frugal lifestyle. Avoiding expenses like takeaways, daily coffees, and croissants, she saves significantly by living at home with her parents.

Living in a £900,000 house in Lewisham, South East London, Mia's family background includes her actor and drama teacher father, Danny McGrath, and her mother, Louise Balmain, who adopted her after she was born in China. She also has a sister, Emily.

Mia avoids spending on fripperies such as food treats and throwaway fashion. She emphasizes being financially responsible, stating that she doesn't see the point of buying daily coffee or pastries. She also refuses to buy 'labubu' toys and limits her makeup and skincare to a capsule collection.

Despite her frugality, Mia now earns enough from her day job and side hustles to afford £15,000 a year in rent. Recently moving into a two-bedroom flat in Clapham, South London with her boyfriend Archie Steves, they each pay £1,250 monthly. Despite this new expense, she still invests £1,300 in shares each month and has a dividend stock portfolio.

Mia aims to increase her savings to £100,000 by the end of the year, supported by her commercial interests. While MailOnline reached out to her, there was no response. Her story highlights the complexities of balancing a frugal lifestyle with the demands of an influencer career.