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I’m a Millionaire Earning $400K a Year — Here’s My Frugal Monthly Budget
Yahoo Finance· 2025-09-17 22:09
Core Insights - The article highlights the success story of Fares Ksebati, a young entrepreneur who demonstrates that it is possible to earn a high income while living frugally and building wealth [2][5]. Company Overview - Ksebati launched MySwimPro, a swim coaching app, in 2015, which offers premium coaching, subscriptions, and swim retreats [3]. - The app gained significant recognition, winning Apple's App of the Year award in the Watch category just one year after its launch [4]. Business Performance - By 2019, MySwimPro was achieving 1,000 downloads per day [4]. - Despite the challenges posed by the COVID-19 pandemic, Ksebati adapted by offering live-streaming workouts, successfully rebuilding and increasing his subscriber base by 50% [4]. - As of March 2025, MySwimPro had over 15,000 active paid subscribers, contributing to a gross revenue of $2.5 million in 2024 [5]. Financial Management - Ksebati's income reached a combined total of $400,000 in 2025, consisting of a base salary of $240,000 plus bonuses [5]. - He purchased an apartment in Dubai for approximately $354,000, which helped reduce his living expenses significantly [6]. - Ksebati's mortgage payment of $1,750 per month is notably lower than his previous rental costs, demonstrating a strategic approach to financial management [7].