20 Strategies for Financial Freedom and Retire Early

3. Downsizing and Geographic Arbitrage

One aspect of frugal living is to downsize and practice geographic arbitrage. If one doesn’t need a bigger home, they can consider downsizing to a smaller one. Individuals must check out the differences in cost of living, salaries, or other financial factors across different states and relocate to a place that can help them save more. This will help increase the savings rate and accelerate one’s progress towards financial freedom.