I've been wanting to introduce you to the FIRE movement for quite a long time, and I finally found the guest to do it! If you haven't heard of it, FIRE stands for Financial Independence Retire Early. It's a movement dedicated to extreme savings and investment and it allows people to retire far earlier than traditional budgets and retirement plans allow. My guest, Diania Merriam, is both a participant in the movement and is also in the process of organizing a conference to share these ideas. FIRE is very applicable to the tiny house movement and Diania is here to tell us all about it!
In This Episode:
- The idea of the FIRE movement and how it differs from traditional attitudes toward money.
- Things people can do now to start saving money
- Cooking your own food is about more than just saving money
- How the FIRE movement helps you meet your needs in an efficient way
- The ways that the tiny house movement and FIRE movements compliment each other
- Why do these movements provoke negative reactions from others?
- Is the FIRE movement doable for everyone?
- What is involved in extreme frugality?
- The EconoMe Conference
Links and Resources:
- Win two free Tickets to the EconoMe Conference
- Mr Money Mustache
- The Simple Path to Wealth
- Your Money or Your Life
- Follow EconoMe on Facebook
- EconoMe website
In 2015, Diania Merriam discovered the Mr. Money Mustache blog which is written by a man who retired at 30 years old. Reading it was like a refreshing punch in the face. At the time, she was living in NYC and $30k in debt. She got out of out that debt in 11 months and started saving about 60% of her income. This newfound grip on her finances gave her a huge boost of confidence to pursue goals that felt previously out of reach. In 2017, she moved to Cincinnati after negotiating a remote working arrangement with her employer. She then took a 2 month unpaid sabbatical to walk the Camino de Santiago (a 500 mile trek across northern Spain). She also bought a house, adopted a dog, and found herself a Midwestern gentleman. She will be financially independent by the time she is 40. Diania is launching a conference for an audience of 700 people at the University of Cincinnati called EconoMe. EconoMe speakers will guide us on a journey of questioning our assumptions surrounding happiness, freedom and prosperity through the lens of personal finance.
This week's Sponsor:
Strategic Insurance Agency
Early on in the tiny house movement, getting insurance for your home was incredibly difficult. Strategic Insurance Agency now offers homeowners style insurance for movable and ground-bound tiny houses in all 50 states.
That means you can get covered for fire, theft, liability, personal property, and more. People often pour their life savings into buying or building a tiny house, and Strategic Insurance Agency can help you protect that investment. They even cover your house if you want to try short term rentals like Airbnb, and offer special insurance for tiny house builders as well.
The best part is that it’s super easy to get a quote. Head over to mystrategicinsurance.com/thlp to get a quick, free quote for insuring your tiny home. And, for every tiny house policy written, Strategic Insurance Agency will be donating $5 to a tiny house charity of your choice.
Again, that’s mystrategicinsurance.com/thlp for a free tiny house insurance quote. Thank you so much to my strategic insurance for sponsoring the show!