Today, I’m thrilled to share a guest post from Julie! Julie is a 29-year-old living in the Pacific Northwest, aiming for financial independence. She loves dogs, wine, and cheesy reality TV shows. Julie co-hosts the FIRE Drill podcast, sells on Etsy, and blogs at Millennial Boss. Last year, she earned an extra $40,000 online alongside her day job. She now teaches others how to start blogging or Etsy side hustles at GoldCityVentures.com.
There was a time I had no marketable skills, was burdened with student loans, and held a liberal arts degree. I was passive, waiting for things to happen, lacking the confidence to take action, and spent way too much money on clothes I never wore, filling up two closets.
One night, while watching Netflix aimlessly, I came across a personal finance blog that motivated me to get my act together. I devised an aggressive debt payoff plan and managed to clear about $25,000 in student loans within a year. I also switched jobs, reduced my spending, and started my own blog to document my financial journey.
Through blogging, I gained the confidence to put myself out there and even started an Etsy shop, which earned me additional income each month. Last year, I made $40,000 on top of my day job with my side hustles. Now, I’m on the path to financial independence and aiming for early retirement in my thirties.
I’m Julie, a 30-year-old dog lover living in Seattle. By day, I work in tech, and by night, I co-host a podcast discussing money and side hustles with interesting guests.
I never thought I’d be pursuing financial independence or considering early retirement, but I’m grateful to have found this community. I’m expecting my first baby in August, and I appreciate how my savings and extra earnings have given me more options.
It’s surprising to me that I host a podcast about money considering my fear of public speaking growing up. I still remember how nervous I was reciting a passage from Othello in my 10th grade English class with my crush sitting in the front row.
Here are seven truths about financial independence I’ve gathered from interviewing over 150 guests on my podcast, Fire Drill:
1. Value-Based Spending Wins: Initially, I was concerned about every dollar I spent, cutting all ‘extras’ from my budget, even those that brought happiness or quality time with loved ones. Now, I realize adding fun into my spending makes me happier, even if it delays financial independence slightly. The takeaway is that only you can determine what’s worth spending on.
2. Walk Before You Run: Discovering financial independence can be overwhelming. I tried to learn everything at once, but looking back, taking it slow would have been better. The key concept is to save more than you earn and invest the difference.
3. Earning More Outpaces Cutting Back: Although I tried hard to cut back on spending, changing jobs and starting side hustles accelerated my progress toward financial independence. There’s a limit to what you can save, but earning has no bounds, especially with side hustles. Now, I teach others about blogging and Etsy to help them earn more too.
4. There’s a Diverse Community: Originally, I had a narrow view of who was on the financial independence journey. It turns out, people from various backgrounds pursue this goal. Finding diverse stories and showcasing them on my podcast has been rewarding and inspiring.
5. Online Friends Are Real Friends: Attending events like the Chautauqua in Ecuador helped me meet incredible people in the financial independence community, and many have become in-person friends. Searching for local financial independence groups on social media is a great way to meet like-minded individuals.
6. Patience with Your Partner Is Key: Convincing my now-husband about financial independence was initially challenging. Instead of overwhelming him with information, I learned to be patient. Over time, he embraced the concept too. Showing patience helps in getting your partner on board.
7. It’s About Lifestyle, Not Money: Initially, financial independence was all about money for me—saving, earning, investing. But it’s truly about designing a lifestyle you love. Whether it’s traveling in a van or spending more time with family, the financial aspect is straightforward, while balancing time and its value is more complex.
My top downloaded podcast episode features an artist in his 50s reflecting on two decades of early retirement. He provides a transparent look at the life he chose and the corporate success he gave up. I highly recommend listening to that episode to understand financial independence deeply.
