Smart Money Mamas Show

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

July 9, 2020

#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 

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 

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