7 Insights on Financial Independence Gained from Conducting Over 150 Interviews

7 Insights on Financial Independence Gained from Conducting Over 150 Interviews

Today, I’d like to introduce a guest post from Julie!

Julie is a 29-year-old living in the Pacific Northwest, aiming for financial independence. She loves dogs, enjoys wine, and is a fan of cheesy reality TV shows. She’s a co-host of the FIRE Drill podcast, sells on Etsy, and writes for Millennial Boss. In addition to her day job, she earned $40,000 online last year. Now, with Gold City Ventures, she teaches others how to start blogging or Etsy side hustles.

Once upon a time, there was a girl with no marketable skills, saddled with student loans, and holding a liberal arts degree. She lacked confidence and spent too much money on clothes, filling two closets with outfits she never wore. One night, while watching Netflix, she stumbled upon a personal finance blog that inspired her to take action. She crafted an aggressive plan and paid off about $25,000 in student loans within a year. She also switched jobs, cut back on spending, and started a blog to track her financial journey.

Through blogging, she gained confidence and launched an Etsy shop, bringing in extra income each month. Last year, she made $40,000 in addition to her full-time job through her side hustles, positioning herself on the path to financial independence and early retirement in her thirties.

That girl is me, Julie.

I’m a 30-year-old dog lover living in Seattle, Washington. By day, I work in tech, and by night, I host a podcast discussing money and side hustles with fascinating people. I never imagined striving for financial independence or considering early retirement, but I’m grateful I found this community. Expecting my first baby in August, I’m thankful for the options that aggressive saving and extra earnings have provided me.

I still can’t believe I host a podcast about money since I was terrified of public speaking. Just thinking about reciting a passage from Othello to my 10th-grade class, with my crush in the front row, still makes me nervous.

Here are 7 truths about financial independence I’ve learned from interviewing over 150 guests on my podcast, Fire Drill:

1. Value-based spending wins.
When I started saving, I worried about every dollar I spent and cut out all extras, even those that brought joy or helped me spend quality time with loved ones. Now, I’m happier allowing some fun in my budget, even if it delays financial independence slightly. The key is to value what you spend money on, and only you can decide that.

2. Walk before you run.
I was overwhelmed when I first learned about financial independence. I didn’t understand investing outside of work retirement accounts. I overindulged in blogs and information, which wasn’t necessary at the beginning. The most crucial principle is to save more than you earn and invest the difference. Start there, and you’ll be fine.

3. Earning more speeds up the journey.
I struggled to cut back on spending, but I made the quickest progress when I changed jobs and started side hustles. There’s a limit to how much you can save, but no limit to how much you can earn, especially with side hustles. I teach blogging and Etsy selling to help people boost their income outside of their day jobs.

4. You’re not alone in this journey.
I initially thought I knew what the typical financial independence seeker looked like, but I was very wrong. People from diverse backgrounds are pursuing this goal. Seeing more women on this path was particularly exciting. On my podcast, I try to showcase diverse stories, as representation inspires more people.

5. You can make friends online.
In 2015, I attended an event in Ecuador for the financial independence community. Initially, I worried about being catfished or meeting people I couldn’t relate to. Instead, I made great friends, inspiring me to seek more in-person meetups. I found many friends within the financial independence community online when I moved to Seattle, and these friendships have transitioned to real life.

6. Your partner might take time to get on board.
When I first discovered financial independence, I was hooked, but my now-husband wasn’t. I overwhelmed him with dense articles and made decisions unilaterally about our spending. Eventually, I realized I could pursue this alone for now. Over time, he came around on his own terms and is now fully supportive, though not as obsessed with the technical details.

7. It’s not just about the money.
Initially, financial independence was all about money for me—saving, earning, investing. But I realized it’s more about designing the lifestyle you want. Money is straightforward; the challenge lies in figuring out what to do with your time and what your time is worth.

My most downloaded podcast episode features a 50-year-old artist reflecting on two decades of early retirement and its worth. It offers an honest look at the life choices and corporate success given up for early retirement. Listening to this episode provides a deep understanding of financial independence and its long-term impact.