By 25, the millennial had saved over $60,000 and purchased her first home - here's her secret strategy.

Despite the challenging economic climate for young people, one millennial was able to save enough money to purchase her own property by the age of 25.

A compliance officer based in the U.K., Kennie Bukky has worked at firms such as KPMG and Visa, and is under 30 years old.

She had saved £50,000 by 25 and secured a mortgage on her first home, which has been verified by CNBC Make It.

Bukky revealed that she lacked financial support from her parents and had to be financially astute due to inflation, high living costs, and soaring house prices, which negatively impacted the under-30s.

According to CNBC's International Your Money Financial Security Survey in April 2024, only 36.5% of adults say they feel better off financially than their parents, while 42.8% say they're worse off.

As many young people feel priced out of adulthood, some are increasingly resorting to overspending to cope with stress because they don't believe they'll ever be able to afford a home or start a family.

After graduating in 2017, Bukky's top concerns were these.

Bukky, in an interview with CNBC Make It, stated that she comes from a background where money was always scarce and there was a scarcity mindset around it.

"My parents never provided me with any financial education, which made me resent the limitations that money imposed on me. As a result, I learned early on that saving money gives you the freedom to make your own choices with it."

Bukky, who kept her legal name and age private, managed to save five figures in her 20s.

'I was obsessed with saving'

Bukky, who holds a degree in forensic science, felt that her field didn't offer enough earning potential. As a result, she shifted her focus to the finance industry and began her career as an onboarding analyst at RBS, earning £28,000. Despite her new job, Bukky remained determined to save money.

Bukky saved despite the high cost of living by living with her parents for as long as possible, a trend that has become increasingly common as rent prices have soared.

Although she had a two-hour commute to and from the office most days, she stated that the savings were worth the discomfort.

"Bukky was fixated on saving at least half of her salary, which allowed her to prioritize investing and achieving financial freedom and independence. Although she could have easily moved out, she chose to stay at home to save the money."

She explained that developing a saving habit while on a lower salary has helped her accumulate more savings over time.

After saving her first £50,000, Bukky used half as a deposit on her first home in 2022 and invested the remaining amount in the stock market.

Living frugally

Bukky combined saving money with living frugally, such as buying clothing only during sales.

It's simple for young individuals to become ensnared in the comparison culture of the social media era and feel compelled to exceed their financial capabilities.

Bukky stated that she had comprehended her desired future and was determined to avoid a future marked by financial struggles or limitations. Her primary focus was on achieving financial stability, rather than living a lavish lifestyle.

She enjoyed herself and budgeted for cheap holidays with her friends, and went out for dinner despite saying she still managed to enjoy herself.

She confessed to being impulsive when she first made £40,000 and purchased a BMW.

"I bought a BMW for a short time, but after examining it, I realized it wasn't as great as I thought. I decided to sell it and return to my Ford."

A millennial with smart investment strategies is now earning more than £100,000 annually. She has invested over £30,000 in the stock market, turned her first home into a rental property, and is planning to purchase a second property.

Despite this, Bukky said minimalism still appeals to her.

She stated that despite being able to purchase a luxurious car with ease, she believes it's not the right time for her to do so.

"I cannot afford to pay for those assets out of my own pocket because, in my view, that's how one becomes trapped in the cycle of accumulating material possessions, which ultimately becomes a form of self-imposed bondage."