How to save more than half your income, from 'super savers' who do it

The rental income more than covered his monthly mortgage payment, meaning he was not only living for free but turning a profit.If buying a property doesn't make sense for you right now, consider living with roommates or moving into a smaller space to lower your rent. Housing is a massive cost and if you can find a way to lower that line item in your budget, you can free up a lot of cash.Brennan and Erin Schlagbaum paid off their $234,000 mortgage in five years, plus $38,000 in student debt, and now save up to 86% of their income. "A few years ago, we thought we had a good idea of what we were making and spending," said Josh, "but when we started actually tracking it, we realized our numbers were completely off."Once they understood where their money was going, they were able to implement lifestyle changes that allowed them to cut back significantly. The Schlagbaums throw their extra savings into various retirement accounts, and also invest in index funds and ETFs via a brokerage account.To make sure you invest your extra savings, try setting up automatic contributions to your investment accounts.