7 Inspiring Personal Finance Success Stories from Reddit Users – Learn the Secrets to Financial Freedom! (3 of 4)

4. From Living Paycheck to Paycheck to Building a Healthy Emergency Fund

A Reddit user shared his success in breaking the cycle of living paycheck to paycheck and instead saving enough to help him weather any difficult storm. Among other things, he went from eating out three times a week to choosing two Saturdays a month to enjoy some fine dining. Instead of having a latte (or two!) from his favorite coffee house every morning, he brewed his own java, literally saving him around $300 a month. Thanks to his strict spending habits, he had reached a point where he could cover all expenses for 6 months in the event that he was laid off or faced an unexpected financial calamity.

5. Overcoming Bankruptcy

For one Reddit user, declaring bankruptcy felt like the end of the world at first. But once he sat down with a financial advisor to work on a plan to get his financial ducks in a row, he discovered that with some determination and discipline, he could work his way out of it. It did involve making several major and minor sacrifices. For instance, he sold his house and moved into a one-bedroom apartment in a part of town that wasn’t exactly the most glamorous. He also canceled his subscription to Netflix and ate more instant ramen than he had since his college days. It took some patience and time – around 5 years to be exact – but he was able to gradually rebuild his credit and turn things around.