part two: LIVING ON LESS THAN $80K A YEAR
TW: this newsletter addresses the tragedy in Colorado Springs. Please prioritize your nervous system. <3
I want to address my queer, trans, and nonbinary siblings on this newsletter first.
I am completely shattered by yet another mass shooting of hatred against our community.
I hate that there are MANY people out in this world that want us dead because of who we are and who we love.
I hate that there are MANY people out in this world, specifically in the United States that want to tear us apart and rip our rights away. Rep. Lauren Boebert is one of many people.
I hate that we've been saying over and over that violence is coming for us, AGAIN, and our cries were ignored.
I hate that every time I go to a queer space to be open and free with my queer family and community, I do have fears that I won't leave this venue alive.
I hate that when I DO reach my bed after a beautiful time of dancing, laughing, and holding my queer loved ones….I feel immense relief.
It all hurts. I am hurting with you. You are not alone. The hate that is held towards us, I want you to know that my love for us is beyond what they can even comprehend. It is beyond the hate that they could ever have towards us. I see you. I love you. I am with you.
If you are an ally, please love on your queer/trans/nonbinary community. Put your money where your heart is. Because what you do with your money matters.
You can donate to Transanta (this is personally one of my favorite organizations, shout out to Katie who told me about them), and/or you can donate directly to our queer family in Colorado Springs. These GoFundMe's are all verified.
Now onto this week's money love letter.
In my last money love letter I shared with you my grand plans to be work optional and live abroad.
Today I want to share with you my numbers. I got SO many questions around how the heck my partner and I live off of less than $80k a year, and your curiosities really inspired me!
But before I get into the deets, let me be honest.
While I was putting together these numbers, I KNEW i'd be sharing them with you all and it TERRIFIED ME. I never experienced this before. I've always loved sharing the BTS of my budget but this is the first time it has to do with money that I have made through My Gold Standard vs my employers paying me an income.
I don't know why this gave me very big feels - but I think it's along the lines of 1) for the first time in my life, I make less than my partner. I've always been the one to make more and 2) I spend a LOT (at least, what I thought) on my business expenses. It is a little more than half MGS gross revenue. This surprised me and definitely made me very self conscious. All the expenses are needs to run my business, I just really did not spend any time thinking about it on an annual level because I've been so wrapped up in the month to month of running this business!
See? I've got some mindset and emotional stuff to work on too within my own financial wellbeing! You're not alone. :o)
Now, onto the numbers. I use YNAB (You Need A Budget) to track my spending and create my budget. Here are our financial deets:
NEEDS
Rent $2,700
Therapy $1,100
Utilities $230
Subscriptions/Memberships $200
Renter's Insurance $14
Groceries $440
Transportation $310
Medical $65
Laundry $35
Wealth Redistribution $35
Total = $5,129
WANTS
Nomz Out $480
Shopping $190
Booze $155
Ride Share $60
Dates $50
Events $40
Quality of Life $135
Total = $1,110
COMBINED TOTAL MONTHLY BUDGET
NEEDS + WANTS = $6,239/month
Annual = $74,868
INCOME
Our total joint annual gross income right now is around $190,000.
I make around $65,000 and my partner around $125,000.
[note: my annual business expenses are $38,193]
This means...we save about 50% of our income annually.
OUR OWN FIRE NUMBER
$74,868 x 25 years = $1,871,700 TOTAL
The biggest takeaway from doing this ritual (looking deep into our expenses, income, spending) is that I don't feel limited….at all.
Let me explain.
Are there things, experiences, and times in my life where I say no to spending money on?
Absolutely. I do say no. I don't find NO being restrictive or limiting, because I am saying NO to something right now that is actually saying YES to my future.
I said no to a YSL bag I've been eyeing for the last year.
I said no to traveling to Europe again this year.
I said no to many dinners, events, and outings.
& I've said no to many business expenses that are not NEED to haves, but more in the WANT/DREAM to have categories…like dropping $1k+ to go to a conference.
I am not saying no forever, either. I will definitely buy that YSL bag eventually, and will definitely be traveling to Europe and countries all over the world multiple times a day. I also know I will certainly invest more into myself and my business.
But the timing really needs to feel right for me.
My partner and I went on a beautiful hike on Sunday, and we experienced so much wealth and abundance on our 12 mile excursion.
We came across two logs COVERED in oyster mushrooms.
The sun was BEAMING with joy.
& the trail was relatively empty.
I shared with him my reflections on what the different paths are presenting me.
Path 1: Increase our expenses, our income, and upgrade our life in the Bay Area.
Path 2: Decrease our expenses and live very intentionally over the next couple of years to become work optional ASAP.
We both agreed we wanted to be work optional first and foremost.
He said to me, “We won't have it all, but we can have what matters.”
God, I love him so much.
We can have what matters.
I looked around Mount Tamalpais, looked at him, looked at the sky and took a deep, deep breathe and thought…
I already have what matters.
I write this money love letter with so much abundance in my heart and soul, even in the darkest of tragedies…and I feel so full.
So heartbroken, yet so beautifully full.
I already have what matters.
Do you?
Stay Shiny,
