'Get It For Free And Get Paid': Millennial Millionaire Found A Way To Make Money Going To Restaurants, Bars And Casinos

One millennial became a millionaire in his mid-20s thanks to a frugal lifestyle and a mix of income streams, including a gig that pays him to go out and have fun.

What To Know: According to a CNBC report, Todd Baldwin was generating $615,000 in annual income when he was 27 by selling commercial insurance, renting out properties and saving money on entertainment by getting paid to do the things he likes as a secret shopper.

A large majority of his income comes from six properties that he and his wife rent out. The rentals bring in more than $450,000 per year, which results in about $150,000 in profits annually. But a big reason why Baldwin has reached millionaire status is because of his lifestyle. 

"We don’t do a lot of the typical things that most people envision millionaires doing. We are super frugal," Baldwin told CNBC.

He and his wife are able to save more than 80% of their income because they are so careful when it comes to discretionary spending, especially when it comes to entertainment. 

See Also: This 25-Year-Old With No College Education Makes $150 In 5 Minutes Some Mornings And Brings Home $150K A Year

Baldwin refuses to spend money on things like going out to restaurants and movies or even staying in hotels and gambling in casinos, he said: "Because I know how to get paid for that."

The millionaire is an independent contractor for a mystery shopping firm that businesses hire to get a better read on how their employees are representing the business day to day.

He's made about $30,000 as a mystery shopper since he started the gig in college, so it's difficult to justify spending money on entertainment.

"If a buddy wants to go to a bar or someone wants to go see a movie, I usually try to wait until I can get a mystery shop. Because if you’re going to go there anyway, you might as well get it for free and get paid on the top," he said.

Baldwin and his wife spend just $25 per week on food because of the secret shopping opportunities that he takes advantage of.

The only time he "splurges" is when he's buying something for his wife, but even that doesn't usually stick. He once bought her a designer purse for around $500, and she immediately returned it, exchanging it for a purse that was almost one-tenth of the price.

He said, "My wife is more frugal than I am!"

Check This Out: The Best Ways To Save Money

Photo: Pexels from Pixabay.

This story is part of a new series of features on the subject of success, Benzinga Inspire.