I’m a Millionaire Earning $400K a Year — Here’s My Frugal Monthly Budget
Written by
Andrew Lisa
Edited by
Levi Leidy
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Most people would probably love to earn $400,000 a year, but those who make it often stop living like most people once the cash starts rolling in.
However, one young entrepreneur is living proof that both are possible, and that anyone of any income can build wealth if they live below their means.Â
In its Millennial Money series, CNBC profiled the success of Fares Ksebati, a 33-year-old Detroit native and son of immigrants who combined business acumen with frugality to build a small fortune that continues to grow.
A Swim Coach Makes Waves With a Workout App, and the Money Flows in Like Water
An avid swimmer since early childhood, Ksebati used his experience as a swim coach to launch an app called MySwimPro in 2015. The workout app offers premium one-on-one coaching, subscriptions and worldwide in-person swim retreats.
Just one year after launch, MySwimPro earned Apple’s prestigious App of the Year award in the Watch category. Momentum grew and in 2019, the app was tallying 1,000 downloads a day.Â
In 2020, COVID-19 devastated Ksebati’s business as pools around the world closed their doors, but he pivoted to live-streaming workouts designed for swimmers to follow at home. He endured the crisis, rebuilding his pre-pandemic subscriber numbers and even increasing them by 50%.
By March 2025, MySwimPro had more than 15,000 active paid subscribers.
A High-Earning CEO Lives Small in a Notoriously Expensive City
In 2024, MySwimPro earned $2.5 million in gross revenue, enough for Ksebati to earn a base salary of $240,000 plus bonuses for a combined $400,000 in income in 2025.
An avid traveler, Ksebati fell in love with Dubai, the most populous of the seven emirates in the United Arab Emirates (UAE) and a city known for luxury, nightlife, tourism and bold, ultramodern architecture. He bought an apartment there for the equivalent of roughly $354,000. His down payment was $142,000, but owning a property helped him lower his expenses, which he vowed to keep low no matter how much more he earned — a wise mindset for the entire income spectrum.
Borrowing Below Your Limits Is as Important as Living Below Your Means
Ksebati was acutely aware of the trap of lifestyle inflation, the tugging temptation to increase spending as your income rises.Â
Ksebati moved in the other direction. Despite the substantial upfront cost of a down payment, his ongoing housing costs dropped from $2,700-$4,000 in monthly rent to a $1,750 mortgage.Â
According to the National Association of Realtors, the average U.S. mortgage payment is $2,120 per month, proving that Ksebati borrowed much less than his impressive income would have allowed, a money move that can lower monthly costs no matter your salary.
Frugal Living Is Fuel for a Savings-Based BudgetÂ
Ksebati’s commitment to financial discipline drove a budget strategy that allows only for modest and occasional splurges to steer every available dollar into wealth creation.
- Mobile plan: $103
- Subscriptions and memberships: $143
- Insurance: $195
- Transportation: $687
- Discretionary spending: $1,220
- Housing: $1,750
- Food: $2,199
- Savings and investments: $17,682
Despite having a viable position on the path to the 1%, Ksebati’s budget mirrors that of an ordinary earner in every category but one. Between his brokerage and retirement accounts, he has already invested $870,000 and keeps $14,000 in a savings account.
Those kinds of numbers in such a short time frame are beyond the reach of average earners, but the concept is universal to anyone with Ksebati’s discipline — spending less than you earn and diverting the surplus to savings and investments is the surest recipe for wealth generation.
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