A Power Couple’s Path to FI | Jimmy and Jenny from Living Life Loving Us

A Power Couple’s Path to FI | Jimmy and Jenny from Living Life Loving Us

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Today we have a bonus episode recorded LIVE at FinCon with Jimmy and Jenny from Living Life Loving Us. Cody was fortunate enough to meet this amazing power couple at FinCon and immediately knew that he needed to get them on the podcast.

Since discovering financial independence, this couple has been able to increase their savings rate tremendously, maximize their income, and design a life of purpose and meaning. They also share some awesome tips about how to get your spouse on board with your financial plans!

Episode Summary

  • When they met, Jimmy was optimizing his time and Jenny was working 16-hour shifts.
  • Jimmy works as a firefighter and Jenny works as a nurse.
  • Jenny hacked travel nursing by living 52 miles outside of the 50-mile radius requirement.
  • Incurred $100K in debt from infertility treatment and paid it off as fast as possible.
  • Found Dave Ramsey, then Choose FI, then a bunch of other blogs.
  • Jenny thought they were “done” when all the debt was paid off … she was wrong.
  • Jimmy tried going minimalist/frugal psycho and get rid of everything – but Jenny wasn’t having it. Then, he made her write down her top ten 10 values and that made her realize that money didn’t make them happy!
  • After car payment was gone, Jenny had her “lightbulb” moment and now wanted to pursue FI by cutting expenses.
  • Started at negative net worth and soon achieved a 50%+ savings rate.
  • Recently downsized their house!
  • Jimmy got certifications to increase his overall pay. Went from $40K to $75K annual salary in just 6 and ½ years.
  • Cut your expenses wisely, NOT your lifestyle.
  • Jenny started making 60K per year and now has the ability to earn 120K. However, she chooses to only work 7 months of the year and still out-earns that original 60K!
  • Jenny leveraged her existing nursing skills to acquire additional PRN jobs in the nursing fields – she also does furniture flipping on the side during her 5 months off!
  • Jimmy works two 24-hour shifts per week, and uses his free days to hang out with his daughter and work on the blog.
  • They have friends that make the same amount of money, have the same jobs, live in the same area… but they’re not intentional with their spending! It’s all about focusing on what you actually value.
  • Striving toward a mutual goal makes life easier and reduces arguments.
  • “Fighting is inevitable. It’s the way you fight that’s important.” – Jimmy
  • Both trying to challenge themselves in every aspect of life: physically, financially, emotionally, etc.
  • Both value fitness and have competed in obstacle course races. Healthy eating is also extremely important to them.
  • Traveling with a baby is great (once you get to your destination), but the journey itself isn’t so fun…
  • They’ve already designed a life that they both love so the next five years might look eerily similar!
  • Their total spend is between $50K and $60K per year, but they could get below $40K if travel was eliminated … might go down with newly discovered travel hacking.
  • “You can’t live on a diet; you need to adjust your eating habits permanently. Same thing with your money” – Jenny
  • Jenny’s parents were entrepreneurs but never had any money during her early years. After her parents achieved success, they started to give Jenny everything she wanted and the “I can have anything” mindset started to set in. One great thing she learned from them though was the power of hard work.
  • Jimmy, on the other hand, barely spent any money to Jenny’s astonishment. The first year they met he had spent $5,000 for the entire previous year. Jimmy’s family never spoke about money, but his dad retired at 50 as a firefighter and had lots of free time.
  • Jimmy has a pension to bolster his FI journey through his job as a firefighter. The longer he works, the more it grows, but he has the option to leave whenever he wants.
  • Both have had health scares in the past. If Jimmy leaves his job, Jenny might get a year-round job for the healthcare benefits.

Key Takeaways

  1. Find common ground with your partner or spouse. Jimmy and Jenny both recognize how powerful it is to chase financial independence as a team. They achieved this cooperation by finding common ground and respecting each other’s input. Some people like spreadsheets, some people don’t. Find out what works for your relationship.
  2. Life is short. Enjoy each day. Jimmy and Jenny have both had health scares in their 20s and this opened their eyes to how precious life is. Now, they have created a life that they truly love and wake up looking forward to each day. This mindset is so powerful and something we should all adopt!
  3. Understand your values. Sometimes, we don’t even know what makes us happy. Often times, it’s not the massive house, flashy cars, or new gadgets — it’s quality time spent with friends and family. Definitely consider doing our Call to Action!

Call to Action

Make a list of the 10 things that you value most. Understand what truly makes you happy and create a plan to get there.

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Links from the Episode

Jenny’s post on fear

ChooseFI

Dave Ramsey

Camp FI

 

Contact Jimmy and Jenny:

Living Life Loving Us

livinglifelovingus [@] gmail.com

Twitter: @livnlifelovnus

Facebook: facebook.com/living-life-loving-us

 

Learn More About Your Hosts:

Fly to FI (Cody’s Blog)

Saving-Sherpa (Justin’s blog)

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