Steve Adcock of Think Save Retire and his wife retired in their 30s. Since then, they've become full-time travelers and spend less money on material goods and more on experiences, Adcock told Business Insider.
For starters, they travel via their 30-foot Airstream, which has decreased living expenses.
"There are zero commuting costs, which means we have much more control over our fuel consumption as well as expenses," Adcock said. "Though we travel (which requires diesel), we also aren't necessarily driving every single weekday, either."
Since they no longer need work-related items like briefcases or nice clothes for the office, they've decreased their wardrobe budget by 75% and spend $10 to $15 a month on average on clothes-related items, according to Adcock.
"Some months, we spend nothing," he said. "But we are spending on fun things as we travel around the country. For example, we attended the Packers' first football game in Lambeau Field — something we never would have been able to do if we weren't travelers."
"Most early retirees find that they don't spend as much money as they thought after retiring," he continued. "It's because we no longer need things to distract us from full-time work. Once we no longer have those jobs, it's very common for spending to decrease rather than increase."