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Today’s guest at the House of FI is Liz, also known to most as Mrs. Frugalwoods. In this conversation we talk about frugality, sustainability, smart money moves for kids in college, and well as a moment of bonding for Curt and Liz over their mutual hatred of dirt.
LIZ GROWING UP
Like so many of us, money was not discussed in Liz’s home growing up. Even so, she was able to learn from her parent’s frugality. She grew to appreciate that something does not have to be new to experience both its utility and ability to bring you joy.
She admits that when she and her husband first began pursuing their dream of leaving the city and purchasing a home-stead they did not know much about finances beyond a savings account. The first financial book she purchased was Personal Finance for Dummies.
A JOYFUL FRUGAL-FAIL
Recently Liz, the despiser of dirt, purchased a $260 Roomba. She explains the decision-making process for the purchase and how the purchase brings her joy.
She also explains that she believes it is important to spend on the things that matter – while always asking if there is a long-term benefit.
She advises to always be mindful of the following:
1. knowing where you need to be in the long term
2. knowing what you need to do with your money to get there
3. calibrate all your purchases against that long-term goal
FINANCIAL INDEPENDENCE IS FOR EVERYONE
One of the points Liz has made ongoing efforts to acknowledge is that she did not have some of the hurdles others may have had due to some of the privileges she enjoyed growing up.
However, Liz also believes, that financial independence is for everyone. You can review some of the case studies on her site where she offers advice to people of diverse backgrounds and circumstances to help them on the financial independence journey.
LIVING A LIFE OF ONGOING LEARNING
Liz and her husband purchased their homestead and decided to approach their life from a viewpoint of learning. Since moving out into the country they have learned many new skills via building and discovering.
Wild fun things, like making maple syrup with maple sap found on their property.
She cautions – that DIY does not always mean less expensive both in time and dollars.
Another fun DIY project Liz’s husband tackled was a “fizzy water” machine by attaching a tank to a soda-stream machine. You can see how he did that here.
LIZ’S LIFE HACKS
1. Her Roomba! Of course.
2. But also the Seltzer Water
WHERE CAN YOU FIND LIZ:
Would you like to know more about Liz and the life she and her husband have created for themselves?
You can get her book, Meet the Frugalwoods by clicking here.
She can also be found on the website- frugalwoods.com
As well as all social media under the same name as well.
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LIZ’S FAVORITE READS
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1. The Simple Path to Wealth – J.L. Collins
2. Becoming – Michelle Obama
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