After years and years of working in licenses, Diania Merriam opened her credit report and saw that she (jointly) $30,000 in debt. This forced her to ask the question, “what am I working for?” It made sense at this point: you get your paycheck, you can eat out, you get another paycheck, you can buy yourself something nice. But Diania wasn’t happy, or at least not as happy as she thought she would be.
She realized she didn’t want to be stuck in a job had to go every day. She wanted autonomy, freedom and financial independence that would allow her to control her schedule and pursue her passions and interests. So she went to work and started saving what she could. They stopped eating out, started cooking all her meals, moved to a cheaper city, bought a house and house hacked, invested heavily in retirement, and did everything right.
Now she is self-employed hosting the Daily optimal finances podcast and the EconoMe conference in Cincinnati. She was able to create her dream roles because she came from a position of financial strength, she also had a plan in mind and knew what her “in the worst case” looked like.
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In this episode we cover
- to get off consumer and student debt as soon as possible
- Minimize costs and maximize revenue increase savings interest savings
- Building a strong financial runway so you can start your own business
- Buy a house and hack house by renting per room
- Insight into your “in the worst case” before taking the leap into entrepreneurship
- Finding your passions and cement what you want to do when your FI . reached
- And So Much more!