A Fredericton woman and her family have downsized their lives and want to spread the word about the FIRE or Financial Independence Retire Early Movement.
Nicole Gowan says they are looking to save up to $100,000 a year and says even though she and her husband do have good jobs, anyone can try this.
“Regardless of your income it’s really about finding ways to live below your means and earn additional income, those are really the principles of the entire movement, ” says Gowan.
Gowan says when her family was living in Toronto they decided that “keeping up with the Jones’ ” just was not their style.
Gowan says “Neighbours don’t care where you live or what you’re driving, you need to worry about your own self. She adds “We sold our gorgeous five bedrooms home and we downsized to a smaller house and then we put tenants in our basement”, it was a move that gave them an extra $3,000 per month.
Everyone can set their own goal but she says her and her family are looking to have $1,000,000 after ten years.
“We set forward with this plan to be able to get out of debt to be able to really stockpile money away so we can have this comfortable life of our dreams within the next ten years,” stated Gowan.
(photo courtesy of Nicole Gowan)
