What Building a Financial Freedom Plan Taught Me About Money

When I first heard the term financial independence, I imagined a yacht, a golden retriever, and endless beach days. (Spoiler: my actual path looked more like budgeting apps, cheap coffee, and lots of spreadsheets.) But over time, I realized financial freedom isn’t a destination—it’s a feeling. It’s waking up and knowing you have options. You’re not tied to a paycheck, a toxic job, or an anxious financial future.

I’m Mia, and while I haven’t hit my “ultimate freedom” number just yet, I’ve carved out enough breathing room to turn down jobs that don’t align, take spontaneous weekday hikes, and sleep well knowing my money works with me—not against me. If you're chasing that kind of freedom, here's what the journey really looks like, one step at a time.

Laying the Bricks: Where Every Journey Starts

Before you can build a tower, you need a rock-solid foundation. And trust me—this part matters more than most people realize.

According to Bankrate’s 2025 Emergency Savings Survey, 37% of U.S. adults dipped into their emergency savings last year, and 33% have more credit card debt than savings. I’ve been there, and I know how shaky that feels. That’s why my journey toward financial freedom didn’t start with investing or six-figure goals—it started with a beat-up notebook, a free budgeting app, and a lot of trial and error.

Let’s walk through the steps that helped me turn that shaky foundation into something sturdy, one block at a time:

1. Creating a Basic Budget (and Sticking to It)

When I started, my budget was messy—think handwritten notes and way too many “misc” categories. But eventually, I found a rhythm: categorize everything, automate the basics, and check in weekly. Budgeting gave me clarity. It wasn’t about restriction; it was about awareness.

Buzz Bite: I call my budget my “freedom map.” Every line item is a conscious choice, not a punishment.

2. Tracking Net Worth and Setting Initial Savings Goals

Net worth sounded intimidating at first—was I even “worth” tracking? But calculating assets minus liabilities was eye-opening. Watching it grow (even slowly) was addicting. My first savings goal was $1,000. Then $5,000. Hitting those numbers felt better than any sale.

3. Paying Off High-Interest Debt

Nothing will stall your progress like high-interest credit card debt. I made minimum payments for too long before switching to the avalanche method—tackling the highest-interest balance first while still covering the rest. Once I saw the monthly interest drop, I was hooked.

Buzz Bite: Paying off debt isn’t just a math win—it’s a mindset shift. Every payoff builds confidence.

4. Building a 3–6 Month Emergency Fund

The first time my car broke down without ruining my week, I knew my emergency fund was doing its job. I built it slowly—$50 a week—until I had a full six months’ cushion. It wasn’t sexy, but it was powerful.

5. Developing Simple, Sustainable Money Habits

It wasn’t the big changes but the small habits that stuck. I started batch-cooking lunches, negotiating my bills yearly, and doing no-spend weekends. Over time, those “little things” made a big dent.

Fueling the Climb: Growing Income and Investments

Once your foundation’s strong, it’s time to grow. This part of my journey felt more like a mountain climb—challenging, but exhilarating.

1. Increasing Your Income

As much as I loved frugality, earning more made everything easier. I asked for raises (with receipts in hand), took on freelance writing gigs, and eventually launched a money newsletter. More income = more freedom fuel.

Buzz Bite: Never underestimate your earning power. Your income is the most powerful wealth-building tool you have.

2. The Power of a High Savings Rate

Once my income grew, I didn’t inflate my lifestyle (much). I set a 40% savings goal and hit it by automating transfers. “Savings rate” just means what percent of your income you save. The higher it is, the faster you reach freedom.

3. Intro to Investing

Investing used to terrify me. What if I picked the wrong stock? Then I discovered index funds—broad, low-cost baskets of the entire market. I started with a Roth IRA and set up auto-investing. Watching compound interest do its thing? Mind-blowing.

“Investing jitters? I kicked fear to the curb with index funds and auto-investing—now my money’s growing while I sleep!”

4. Automating Your Contributions

The best decision I ever made? Automating everything. Money flowed from paycheck to savings, then to investments—without me thinking about it. Set it and forget it made me consistent, even on chaotic weeks.

5. Avoiding Lifestyle Inflation

The hardest part of growing income? Resisting the urge to upgrade everything. I gave myself small lifestyle treats (hello, fancy almond butter), but kept the big stuff (housing, car) modest. That balance kept my freedom fund growing.

Streamline to Freedom: Smarter Spending, Bigger Wins

This stage felt like fine-tuning. I wasn’t scrimping anymore—I was optimizing.

1. Tax Efficiency and Account Strategy

Once I had a decent-sized portfolio, I started learning about tax-advantaged accounts. I maxed my Roth IRA, opened an HSA, and used my 401(k) to lower taxable income. A few strategy tweaks saved me thousands.

Buzz Bite: Tax shelters aren’t just for the wealthy. They’re how regular people build real wealth faster.

2. Geoarbitrage and Cost-of-Living Hacks

I moved from a big city to a lower-cost area during the pandemic. Suddenly, my money stretched way further. Even if you can’t move, there are hacks: shop utilities, ditch high-fee banks, and explore remote work to live where costs are lower.

3. Big Wins: Housing, Transportation, Food

I used to obsess over lattes until I realized the real savings were in big-ticket categories. I kept rent below 25% of my income, bought a used car in cash, and meal prepped like a champ.

4. Spending With Intention

I still spend on things I love—travel, therapy, good coffee—but I do it intentionally. That mindset shift—from “cut everything” to “align spending with values”—kept me from burning out.

5. Evaluating “Enough”

My FI number (the amount I’d need to retire early) felt abstract at first. But once I ran the math (25x my annual expenses), it clicked. I wasn’t just chasing money—I was chasing enough. And that changed everything.

Buzz Bite: Knowing your “enough” number gives you permission to stop chasing and start living.

Cruise Control (Almost): When Momentum Takes Over

Once your systems are in place, the journey starts to feel smoother—like you’re finally coasting downhill (but with brakes if needed).

1. Hitting Milestones: Coast FI, Lean FI, Fat FI

I hit Coast FI last year—meaning I could stop investing today and still retire comfortably at 65. It felt surreal. Some aim for Lean FI (frugal freedom) or Fat FI (luxury lifestyle). Your version is yours to define.

2. Saying No to What Doesn’t Align

As my financial footing strengthened, I started saying no to toxic jobs, unpaid “opportunities,” and pressure to keep up. My time felt valuable. And that was the biggest mindset shift of all.

3. Optional Career Shifts

I scaled back to part-time for a while to focus on a passion project. That flexibility wouldn’t have been possible without my financial foundation. I wasn't chasing freedom—I was living it.

4. Passive Income Streams

I dipped into real estate (a small rental), launched a digital product, and earned dividends from my investments. None of these replaced my job overnight—but they created options. And that’s the goal.

Buzz Bite: Passive income takes work up front—but becomes freedom fuel in the background.

5. Preparing for Independence

The closer I got to full independence, the more emotional the shift became. What would I do with my time? Who was I without a 9-to-5? Turns out, prepping your mind is just as important as prepping your bank account.

The Arrival (and Beyond): Redefining “Work” and “Life”

So, what happens after financial independence? (Spoiler: it’s not all beach days.)

1. What Changes—and What Doesn’t

Reaching FI didn’t make my life magically perfect. I still budget, still track goals, still wrestle with impostor syndrome. But I have choice. And that makes everything better.

2. Staying Engaged Without a Paycheck

The first month without working full-time felt like a long weekend. Then I craved structure. I started volunteering, consulting part-time, and mentoring. Work didn’t disappear—it just became optional.

3. Giving Back and Legacy Planning

I opened a donor-advised fund and started helping others with their financial journeys. True freedom, for me, includes giving back—time, knowledge, and eventually, money.

4. The Flexibility to Pivot

The beauty of financial freedom? You’re not locked in. Want to start a business? Travel the world? Go back to school at 40? You can. FI doesn’t mean stopping—it means choosing.

Financial Freedom Is a Journey (Not a Jackpot)

You don’t need a million-dollar portfolio to feel free—you just need a plan that reflects you. Financial independence isn’t about perfection. It’s about creating space to live on your terms, one smart step at a time. If you’re overwhelmed, start small. Budget. Save. Learn. Your future self will thank you—and I’ll be here rooting for you the whole way.