How to Decide What Financial Independence Looks Like for You with Elizabeth Thames

#048: In today’s episode, I’m talking with Liz Thames who is the creator of the award-winning personal finance blog, Frugalwoods, and author of the book Meet The Frugalwoods: Achieving Financial Independence Through Simple Living. At just 32 years old, Liz reached financial independence and left her successful career in Boston to live a more purpose-driven life on a 66-acre homestead in the woods of Vermont. We’re talking about what financial freedom means to Liz, her journey from non-profit fundraiser to homesteader, and how her life changed as she pursued and achieved FIRE. 

(06:16) What financial independence means for Liz and her family 

(15:16) How Liz and her husband developed a plan to reach financial independence together 

(19:33) How she was able to balance her spending and curb the urges to spend money with their friends while on the journey to financial independence 

(28:48) Where you can start today to identify what you want and what makes you happy in order to align your spending with your goals 

(38:24) Advice from Liz if you’re wanting to embrace extreme frugality and stick to what really matters to you 

(48:49) Chelsea’s Top Takeaways  

Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/liz 

Family Money Values Template: 
https://smartmoneymamas.com/family-money-values-template/ 

Thank you to our partner, Policygenius, for helping make this episode possible. Get multiple quotes for high-quality life, homeowners, or disability insurance and find the best rates for your family at https://policygenius.com/smartmoneymamas