Diania Merriam realized that she didn’t have an income problem, she had a spending problem.
She realized her food spending had gotten out of control and set about trying to trim it down.
With her increased savings, Merriam was able to pay off her debt in just 11 months. From there, she decided to put all the money she was saving toward her investments and began pursuing FIRE, which stands for"Financial Independence, Retire Early.""I went from paying $1,800 a month for a cockroach-infested apartment in Brooklyn to paying a $600 mortgage in the nicest place I've ever lived," she says.
Merriam describes her current financial situation as"Coast-Fi," a breakoff of the FIRE movement. Being Coast-Fi means she only needs to earn enough money to cover her expenses because she already has adequate savings and investments to support herself once she reaches a traditional retirement age.
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