I'm a 26-year-old HENRY. I'm in the top 1% of earners and a homeowner — I won't be happy until I'm completely financially free.

• Ben Ruan is a top-1% earner who tries to live frugally so he can be rich one day.
• Working in the tech industry as a data analyst, Ruan purchased a £450,000 apartment in London.

This as-told-to essay is based on a transcribed conversation with Ben Ruan, a data analyst living in London. Business Insider has verified his income and homeownership with documentation. The following has been edited for length and clarity.

Despite being a high earner now, I didn't do that well in school. I luckily managed to get into Coventry University. I started a degree in economics before switching to business marketing.

I graduated with a first-class degree, and after nine months of applying for work, I landed a job as part of the agency Wavemaker's graduate program.

In the program, I could either enter a role that was fun but not going to teach me hard skills or take on a role that would teach me technical skills related to data, engineering, and coding but wasn't the most fun. I knew the second role would give me hard skills that would increase in demand, so I picked that path.

I was always very driven with my financial goals. On my first day at work, I wrote on the back of my notepad how I would eventually buy a house. To put down a deposit, I planned to save £1,000, about $1,250, a month for five years.

Job-hopping meant I could put a house deposit down by 26

Whenever I work at a company, I ask myself: Am I learning? If I am, I'll continue to work there. But if I'm no longer learning, I must question whether I'm getting paid enough. If I'm not, then it's time to leave. Eventually, I began to feel stagnant in my graduate as an analytics executive. After two years in the role, I applied for other jobs.

I soon landed a job at Snapchat as a data analyst in July 2021. While the job was fun, I knew my salary wasn't enough to reach my financial goals. Banks will loan you 4 ½ times your salary. To afford the kind of house I wanted, I needed to earn at least £80,000 a year.

My experience at Wavemaker and Snapchat meant Big Tech companies were approaching me. This helped me eventually land my current job as a data analyst, which put my income in the top 1% in the UK if you included my stock options.

Throughout this period, I was still living with my mum, saving as much money as possible to put down a deposit.

I paid her £300 a month for rent and always ate whatever she cooked, so my general costs were way lower than now. I was happy to live a few years at home to prevent spending a lot of money on rent.

With my new role, I started looking for houses to buy

I wanted to stay near my mum in London to see her whenever she needed me. I also prioritized buying a newly built apartment, so I didn't have to spend money on home improvements and fixing issues.

With these two key factors in mind, I found a £450,000 apartment in Central London that I loved. I could afford a more expensive property on my current salary, but I wanted to purchase something I could still pay off if I was ever laid off.

I have monthly mortgage payments of £1,400 after putting down a deposit of £50,000, alongside a £270 monthly service charge for security.

I spend £470 a month to pay off my car. This was a bit of a treat. I grew up really poor. I worked in JD Sports for £7 an hour while at university and remember my mum not wanting me to have friends over because she couldn't feed another mouth. I wanted to reward myself for my hard work, and a £35,000 Mercedes-Benz was that reward.

Other than that, I try to be frugal. My phone is only £15 a month, and my internet is £35. My friend is a barber who cuts my hair for £15. I still shop at cheaper stores such as Asda and Aldi; I'm not going to expensive grocery stores such as Waitrose or Marks & Spencer. I spend about £10 every four days at the shop. I don't eat luxurious things; I just need pasta and mince.

My investments were my biggest outgoing expenses, but now I'm focusing on saving

In the past, my biggest outgoing expenses were investments — mostly going into stocks. Now I'm trying to save over half my earnings. I want my money to be liquid because I want to invest in businesses to generate more money.

Purchasing my apartment was also an investment. When I move out, I'll look to sell or rent the property.

I spent more money on high-end furniture as it'll help me sell or rent the property in the future. A nice sofa and big TV mean I can brand it a high-end property. Once I begin to consider having a family, I'll look to move out. There's no deadline.

I'm making short-term sacrifices for long-term freedom

Buying a house was my first goal. As a kid, it was drilled into me that homeownership was a safety net. But now, my end goal is to be financially free.

Financial freedom isn't a specific number to me. It's a lifestyle. I want to be able to go out to fancy restaurants, order food, and not care about the price — I did this once on a company card, and it felt amazing. I grew up so poor that I don't want to be put in that situation ever again. Once I've achieved that, I want to settle down, have three kids, and build my own house like they do in Architectural Digest.

While I'm not rich yet, I believe I'll be where I want to be in five years. I plan to open a small business and get into entrepreneurship.

I see myself as a HENRY — high earner, not rich yet. I'll be rich when I can take care of everyone around me. This phase of my life is about sacrifice, consistency, and always looking for the next opportunity. I want to be in a position where I no longer have to give up my time for money.