Today, I’m thrilled to bring you a guest post from Julie!
Julie, a 29-year-old living in the Pacific Northwest, is on a journey towards financial independence. She loves dogs, wine, and cheesy reality TV shows. Apart from her day job, she co-hosts the FIRE Drill podcast, sells on Etsy, and writes for her blog Millennial Boss. Last year, she earned $40,000 online in addition to her regular job. She now helps others start their own blogs or Etsy shops through GoldCityVentures.com.
Once, there was a girl with no marketable skills, student loans, and a liberal arts degree. She lacked confidence, spent excessively on clothes, and had two closets full of unworn outfits. Her life changed when she stumbled upon a personal finance blog while watching Netflix. This blog inspired her to create a strong debt payoff plan, which enabled her to clear approximately $25,000 in student loans within a year. She changed jobs, reduced her spending, and started a blog to document her financial journey.
Through blogging, she gained the confidence to step out of her comfort zone, even starting an Etsy shop that provided additional income each month. Last year, she made $40,000 in addition to her day job through these side hustles, setting her on the road to financial independence and early retirement in her thirties.
That girl is me, Julie. I’m now a 30-year-old living in Seattle, Washington. By day, I work in tech, and by night, I’m a podcast host discussing finances and side hustles. I never thought I’d be on this path toward financial independence or consider early retirement, but I’m grateful to have discovered this community. With my first baby on the way in August, I’m thankful for the financial options our savings and extra earnings have afforded us.
It’s surprising that I now host a podcast about money because I used to be terrified of public speaking. I still remember sweating bullets while reciting a passage from Othello in front of my 10th-grade English class. My crush was in the front row, and I nearly died from anxiety.
From interviewing over 150 guests on my podcast, Fire Drill, I’ve learned some important truths about financial independence:
1. Value-based spending is the way to go.
When I started saving, I was anxious about every dollar spent and cut out all non-essential expenses, even those that brought small joys or helped me connect with loved ones. Now, I’m happier allowing for some discretionary spending, even if it means reaching financial independence a bit later. Spending money on what truly matters to you is key.
2. Take it step by step.
Initially, the idea of financial independence overwhelmed me, especially when faced with terms like brokerage and taxable accounts. I tried to learn everything at once, which was unnecessary. The core principle is to save more than you earn and invest the difference. Start with that, and you’ll be fine.
3. Earning more accelerates your journey faster than spending less.
While cutting expenses is good, I made the most progress toward financial independence by changing jobs and starting side hustles. Your earning potential is unlimited, especially if you’re open to exploring side ventures. I now teach blogging and Etsy side hustles to others to help them boost their income.
4. There are diverse people on this journey too.
I had a preconceived notion of what someone pursuing financial independence looked like and how they lived. I was wrong. People from all walks of life are on this journey. Finding this diversity, especially more women, has been inspiring. On my podcast, I strive to showcase varied stories to motivate others.
5. Online friends can become real-life friends.
In 2015, I attended an event in Ecuador called the Chautauqua and met like-minded people in the financial independence community. This experience encouraged me to seek in-person meetups, where I’ve formed lasting friendships. Even after moving to Seattle, I’ve made friends through local financial independence groups.
6. Getting your partner on board takes time.
When I discovered financial independence, I was immediately hooked, but my then-boyfriend wasn’t. Instead of bombarding him with complex articles, I learned patience. Over time, he came around and now supports our financial goals. It’s crucial to be patient and allow your partner to understand the concept on their own terms.
7. It’s more than just about money.
Initially, my focus was solely on saving, earning, and investing. Eventually, I realized financial independence is about designing a life you love. It’s about what you want to do with your time and what matters most to you.
One of our most popular podcast episodes features an artist reflecting on two decades of early retirement and whether it was worth it. His honest perspective offers a deeper understanding of financial independence and its long-term implications. I highly recommend listening to this episode to gain insight into what early retirement truly entails.
