I started pursuing FIRE an acronym for \"financial independence, retire early\" when I was 22 years old. <\/p>\n
It was 2016, and I was making $15 an hour as a marketing associate. I knew it would be many more years until I'd achieve my goal of having a $1 million net worth in my 30s, but I was ready to hunker down. <\/p>\n
I embraced frugality and shopped at thrift stores. I waitressed on weekends. I boosted my income by switching jobs. I invested my money wisely.<\/p>\n
All that has paid off immensely. I'm on track to meet my goal by 2029, when I turn 35. In August this year, I reached a net worth of $282,000 (via my investment accounts, including my 401(k), Roth IRA and HSA, along with cash in my checking and savings accounts).<\/p>\n
But one of the biggest unexpected benefits of my FIRE plan happened this summer: I was able to afford a month-long trip to Europe. <\/p>\n
I visited seven countries Iceland, the Netherlands, Luxembourg, France, Denmark, Norway and Sweden and spent less than $2,800 on the entire trip. Here's how I did it:<\/p>\n
Like so many companies, my employer made a big push to bring people back into the office. <\/p>\n
So naturally, I was nervous about negotiating with my bosses for this trip. I worried that they would question my loyalty, or that I might miss out on work opportunities by taking time off.<\/p>\n
But ultimately, I knew that if I lost my job, I'd still have a financial cushion. Thanks to my money-saving efforts, I had enough in my savings to cover living expenses for at least eight years.<\/p>\n
I drafted a comprehensive request for two weeks of paid time off, and 12 days of working abroad. I came prepared with details and points about why my bosses wouldn't have to worry, and how much value I brought to the company.<\/p>\n
Knowing what you want to experience the most and spending your money on it is a key component of financial independence.<\/p>\n
During my Europe trip, I realized that it was important for me to fill my emotional tank with things I love, like art and architecture.<\/p>\n
So I budgeted accordingly and bought tickets in advance for castle and museum visits, and taking a chairliftride over scenic mountains. <\/p>\n
A view of Stortorget Square in Stockholm.<\/p>\n
Photo: Darcy of We Want Guac<\/p>\n
My trip was made all the sweeter because I had a clear and specific itinerary that I had planned ahead of time. I didn't have to fight crowds of other tourists or wait in lines or get sidetracked at luxury stores and spending money on things that didn't matter to me.<\/p>\n
The most valuable thing I learned from people in the FIRE community (via blogs, online forums and YouTube videos) was how to maximize my credit card points.<\/p>\n
I booked over $1,400 worth of flights and hotels with the points I earned from my Chase Sapphire Preferred card. I booked low-cost Airbnbs in advance and only brought carry-ons, which saved me hundreds of dollars in luggage fees.<\/p>\n
Oslo, Norway<\/p>\n
Photo: Darcy of We Want Guac<\/p>\n
Getting flights via credit card points meant I had leftover money to visit more places, such as Aarhus, Denmark and Bergen, Norway.<\/p>\n
Throughout my trip, I found myself having to deal with several unexpected changes, like a tour cancellation in Iceland. I also had only a few days to find a new place to stay in Oslo when my Airbnb fell through.<\/p>\n
In the past, my default would have been to panic. But instead, I took a breath and looked at my options.<\/p>\n
My first thought was no longer \"How will I be able to afford something else so last-minute?\" Now, I simply ask myself: \"What is the best alternative I can do at the last minute?\"<\/p>\n
In Norway, I booked several different stays, and even though it meant a lot of luggage-moving, I ended up seeing more of what I had planned to. In Iceland, I sprung to explore even more of Reykjavik, including seeing the city from their waterfall church, checking out the opera house, and trying some fermented shark.<\/p>\n
Darcy is the founder of personal finance website We Want Guac. She won a Plutus Award for Best Generational Financial Literacy Content and has been featured across multiple publications and podcasts, including MarketWatch and ChooseFI. Follow her Twitter and Instagram.<\/p>\n
Don't miss:<\/p>\n
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See the original post here: <\/p>\n
This 28-year-old is on track to save $1 million by her 30s: How she visited 7 countries in Europefor just $2,800 - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" I started pursuing FIRE an acronym for \"financial independence, retire early\" when I was 22 years old. It was 2016, and I was making $15 an hour as a marketing associate Continue reading