Latest news with #MiaRoseMcGrath
Daily Mail
a day ago
- Entertainment
- Daily Mail
I have £100,000 in savings and investments and plan to retire by 40 - these FIVE habits are keeping you broke
A young woman who prioritises saving and investing over spending in the hope that she will be able to retire by 40 has warned people that five popular habits are keeping them 'broke'. Mia Rose McGrath, 24, has 'almost £100,000 in savings and investments' and lives a thrifty lifestyle so she can 'soft retire' 26 years before her peers. With more than 143,000 followers on TikTok, Mia, who lives in London and works in fashion, frequently posts about the stringent approach she takes to managing her own finances. 'Trying to be cool or aesthetic is making you broke,' Mia said in a TikTok video posted this week. She explained that buying a completely new outfit or spending £38 on a Rhode phone case in a bid to look 'aesthetically pleasing' on Instagram was a waste of money. Reflecting on her own experience, Mia admitted that she used to fritter away cash on exactly the exact behaviour before she made a change. She said: 'I realised I was doing it for other people, not for myself.' The second mistake that people make, according to Mia, is allowing themselves to be swept up in trends and fads that turn out to be very expensive. The savvy saver warned: 'You don't need the latest trending item - a Labubu, a Coach bag. It's not essential.' While she approved of saving up for something 'you really like,' Mia encouraged her fans to be really honest with themselves before making a purchase. She added: 'I guarantee if you waited 30 days to buy it, you wouldn't want it anymore.' The third financial mistake Mia identified is 'not saving because you think it's pointless'. Telling those who are saving none of their income to 'please change that,' she argued that 'no matter how small it is,' it's worth doing. 'I guarantee, if it's £10, £50, no matter how small it is, you're probably not doing it because of that reason,' she reminded viewers. Mia, who has accumulated 'almost £100,000 in savings and investments' in recent years, revealed that she also started small, even putting money aside when she was relying on a student maintenance grant. She continued: 'I wouldn't have been able to do that if I had that mindset that saving £50 is pointless.' Fourthly, Mia advocated for starting a side hustle, telling fellow TikTokers that they're 'not too busy'. Mia's advice for saving 1. Trying to be cool is making you broke, don't buy trendy things to look good 2. Wait 30 days to buy something 3. Save money of your income, even if it's only £10 4. Stop using the excuse you don't have enough time. You can have a side hustle while at a 9-5 job 5. You have to build your own soft life. Work hard and have your own money Taking a tough love approach, she said: 'Stop using the excuse that you don't have enough time, you just don't want to enough.' She insisted: 'Whatever it is, creating content, creating a personal brand, making extra money - I've done all those things while at a nine to five job that I have to be in the office five days a week for.' Mia added that, providing someone wants to improve their finances, they can - it just takes discipline. Finally, Mia warned that it's irresponsible to think a 'man is going to sweep in' and facilitate the 'soft life' that some people crave. 'Soft life' is shorthand for a life lived on a person's own terms, usually free from the constraints of a fulltime job. Mia's viral video attracted tens of comments, with most people thanking her for her stark advice She added: 'There is so much bad advice on TikTok saying you need to appear in your "soft feminine energy" and go sit at a bar where a rich man will find you...' In a bid to do away with this myth, Mia said: 'You have to work hard and have your own money. 'Sure, if you meet someone who earns more than you, that's a bonus. Make sure you have your own finances sorted first.' Despite having issued the disclaimer 'you're not going to like this' at the beginning of her video, Mia's advice was generally well received on TikTok. One fan said: 'No lies told! "If you want to do it, you can - it just requires discipline."' A second person added: 'The waiting 30 days is such a brilliant and helpful thing to do!' While a third said: 'Great points! It is so important to stay mindful of spending and focus on saving in the long run.' Someone else pointed out: 'The amount of overconsumption I see is wild, it's so wasteful (not just of money but resources)'. Yet, not everyone was convinced, with one TikToker admitting that financial discipline really isn't her forte. 'What if I still want it after one year?', she asked.
Daily Mail
05-06-2025
- Business
- Daily Mail
I'm 24-year-old with £80,000 in savings - here are the things I'd NEVER spend money on so I can retire at 40
A young woman who is 'hoping to retire early' has revealed the items she would 'never' spend her money on. Mia Rose McGrath, who is 24 and has £80,000 in savings, hopes to retire by the time she's 40. She currently lives in London in a zone 2 flat that she shares with her partner and split the rent and bills equally. Mia hopes to 'soft retire' by the time she's 40 - meaning she will likely still do part time work or things she's 'passionate' about, but won't need to work full time to 'stay alive'. As well as having 'side hustles' which she credits with gaining her £10,000 in the past year, there are certain things Mia doesn't spend money on to help her save. She says she will rarely spend cash on things like takeaways and coffees - only having them when she's with friends. 'These are the things I just don't spend money as a financially responsible 24-year-old who wants to retire early,' she said in her TikTok video, which has racked up more than 500,000 views. The first thing on her list is takeaways - and she says she doesn't even have the Deliveroo app on her phone. However, she makes an exception if she's hanging out with friends. She explained: 'I won't get a takeaway if I can't be bothered to cook. If you can cook really good food, you just don't need to get a takeaway. 'And also, eating in the actual restaurant is so much nicer.' In a similar vein, she also doesn't usually treat herself to a coffee or a pastry - but still gets them with friends. 'I don't see the point of buying one every single day. They're four or five pounds sometimes. That really adds up,' she added. The third item on which she's unwilling to splash the cash is home decor and trinkets, instead collecting them over time when she's given them as gifts. Mia referenced the viral 'labubu' trend - 'monster toys' that have grown popular on social media - and said she would never be caught buying one. She also doesn't buy 'extra' make-up and skincare beyond the 'capsule' collection she sticks to. She said: 'I couldn't tell you the last time I tried out a new product. I really just stick to the same routine of the same essential products and I just top up when they run out.' When it comes to alcohol, Mia said the maximum she'll spend at a time is around £15. 'I'm just not a big drinker. If I'm out with friends, I'll probably just have one or two,' she explained. While some people praised her for her 'sensible' financial decisions, others were worried she's not having enough 'fun' in her 20s. Taking to the comments, people wrote: 'No hate, but what do you do for fun? There's a fine line between being sensible to save money and doing/ buying nothing. You should set some cash aside for treats'; 'Remember to enjoy life as well, I'm 31 and saved a lot during my 20s and now have £200k+ savings, does it make me happy, not really'; 'I thought this is normal... I guess I'm just poor lol'; 'At your age, you're going to make an incredibly big positive difference to your (early) retirement by investing with the savings you're making with these choices'; While some people praised her for her 'sensible' financial decisions, others were worried she's not having enough 'fun' in her 20s 'This is fantastic. I'm exactly the same. Most people love wasting money and they hate seeing others being frugal, because it illustrates their bad spending habits'; 'The amount of money I've wasted on takeaways just to feel awful after eating them anyway is scary.' In another video, Mia revealed there are some items she will splurge on. These include experiences, buying whole foods and renting a nice flat. She also revealed how she's managed to save £80,000 at just 24 years old, revealing she hopes to increase it to £100,000 this year. Mia said she always. 'pays herself first', paying money into her savings account at the start of each month She also credits her savings to becoming 'financially literate' and learning about the stock market. She said that she's spent time 'living below her means' and when she was living at home and had disposable income, saved it towards a home deposit. The financially savvy TikToker emphasised the importance of her side hustles - which include modelling, UGC, content creation and affiliate marketing. In addition, she's done two placements and has been working full-time, saying it took her around five years to reach the savings goal. Though she and her partner split their rent and bills equally - due to being the same age and earning a similar salary, she admitted other things have a 70/30 split. Mia believes the 'man should be trying to impress a woman a little bit more' as it keep the romance alive - for example, she will be spoiled by her partner for Valentine's Day and on birthdays.
