BiggerPockets Money Podcast3 Feb 2020

110: Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life

Purple graduated from college and got a job in New York City making $35,000 a year. And spending $35,000 a year. Her net worth was a whopping $5,000. Her partner shared the concept of financial independence with her, but she wasn’t interested. Two years later, her net worth had grown considerably, but she was still not tracking her spending or paying attention to much of her finances. So, she took a good look at her money situation and discovered that there were places she could make cuts—yet not really feel them. She moved across the country, she changed jobs, she asked for raises. And she saved and invested her money. And her net worth grew to the point that she is retiring before the end of the year and traveling the world—all because she looked at her financial situation and said, “I can do better than that!” Listen in to hear just how she increased her income and decreased her spending to craft the life she wanted! In This Episode We Cover: Purple's journey with money Her mom's gift Deciding to seek financial independence Convincing your partner to pursue FIRE Purple's net worth Tips for people who are looking for a new job and better income The importance of research Purple's plan in the future What her retirement looks like Possible downsides of remote work And SO much more! Links from the Show Reddit Mr. Money Mustache Glassdoor Indeed PayScale cFIREsim BiggerPockets Money Facebook Group BiggerPockets Money Survey Learn more about your ad choices. Visit megaphone.fm/adchoices

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