Financial independence and stability were something Jenn always wanted. She was on an incredible path to get there but experienced an event that caused changes in both her life and her finances.
When Jenn made the decision to hire BTI she was curious whether her financial foundation was strong enough to weather the changes in her life that she was navigating or whether she would need to make changes in order to make ends meet.
Jenn already had an incredible financial tracking system established. She had spreadsheets and a solid understanding of her numbers, she just needed help understanding the story her data was telling her.
Following an analysis by BTI, the findings revealed that Jenn not only had a current strong financial foundation already established but was also on a trajectory to grow wealth. However, it was revealed that given Jenn’s life change, her financial situation would be better insulated by bolstering her emergency fund.
Now, most people would hear this incredible news, kick their feet up, and be glad they are in good standing. In spite of knowing this information, Jenn became hungrier to increase her income, reduce her expenses, build her emergency fund and grow her wealth.
Over the course of the next several weeks, Jenn made some decisions. She expanded her side-hustle photography business and became more aggressive in advertising strategies to secure more clients. She also took on two part-time jobs that require her commitment for just a few short hours every week. By making these simple adjustments, Jenn was able to increase her income by nearly $700-$850 per month.
Now if you know Jenn, she is a feisty little thing. She wasn’t about to stop there. She made the decision to reduce her expenses and trade in her current vehicle for a reliable, affordable, and economic Prius. By making this decision, Jenn eliminated her $315 monthly car payment in addition to increasing her income.
Increasing her income and reducing her expenses nets Jenn an additional $1k every month. Just running some simple projections, if Jenn invests that money just from her side gigs and the cost savings to her vehicle over 30 years, we would expect Jenn to have approximately $1.5 million dollars!
How’s that for cool? Jenn went from not knowing and being uncertain about her financial situation to – I could be a millionaire.
The knowledge Jenn received from BTI helped provide a solid indication of where she was currently, and where she was going without any type of behavioral change. Simply knowing this information helped give Jenn added fuel to lay down the hammer, hit the gas, and find creative and innovative solutions to increase her income and reduce her expenses.
We don’t expect Jenn to stop here. Oh no. This amazing boy-mom is on fire. Her next goal is to save for a new home with future goals of securing rental properties for passive income as well as expanding her reach in the stock market.
BTI cannot wait to see the amazing things Jenn has and will accomplish in the future. It was a pleasure running her numbers and we are so proud to be in a position to provide this insight.