Go watch Freedom In A Budget's video here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-f33VyJ0ukVI.html Quick Jump Sections 1:10 - Our 2014 Streams of Income 2:19 - Our 2015 Streams of Income 3:45 - Our 2016 Streams of Income 4:45 - Our 2017 Streams of Income 5:52 - Our 2018 Streams of Income 7:20 - Our 2019 Streams of Income 10:40 - Our 2020 Streams of Income Full List Of Ways We've Made Money - Selling Homemade Bread - Selling Candy Bars - Teaching Piano Lessons - Tutoring - Engineering Internships - Scholarships - Physical Therapy Assistantship - Engineering At A Consulting Firm - Travel Physical Therapy - Credit Card Churning - Freelance Writing - Freelance Community Management - Freelance Social Media Management - Freelance Digital Marketing - RU-vid Ads - Affiliates - Money Coaching - Group Coaching Classes
Thanks Kelly! It was a ton of fun and your video idea was a good push for us to make a video we’ve been talking about. So thanks for coming up with the idea and letting us join in!
Love what you guys are doing!! Exactly the same path my wife and I are starting to go down, except we are in our early 40's. Really wish we wouldn't have waited so long to start working on multiple streams of income, but glad we are going down that path now. We have 5 kids, so hopefully we can get them on board with these concepts too and they can get started much earlier than we did!! Keep up the great work.
Hanna, I really like your comment about the importance of flexibility outweighing the stability of a full time job. The hubby and I are ~1 week from making the transition. Despite the number crunching in Excel (Nick: fist bump to you for the engineering Excel files. As a fellow engr, I appreciate it. Keep up the great work!), at times it feels scary.
I am an Electrical Engineer from the UK who never paid a penny for my education because at the time it was paid by the government. This allowed me to get well paid jobs without the worry about having to pay back any student debt. I like to think that my work contributed to a more efficient workforce and supported other jobs. I now live in Canada and managed to hold a well paid job that I enjoy. I have been fortunate to have travelled many places throughout the world on a single income
Great video! I think a lot of people expect to make money right away. Building multiple streams of income takes time! Hope you guys are safe & healthy.
Great ideas! Thanks Nick and Hannah. BTW - did anyone else see the small dog on the table attempting to eat something in the Freedom In A Budget clip! That was great :) !
Two major similarities between you and me. My name is also Nick AND I got my Mechanical Engineering degree back in 2011...kinda eerie. I also signed up for YNAB at the end of March, right around the time this video was released. When you two mentioned the Strengths Finder 2.0 book and showed the cover, I told myself "I've seen that book before, but where?". After about 5 seconds, I ran over and looked on my bookshelf and...found the book. That's when the connection was made that I got this book from a former employer but never opened it up. Thanks to you two, I'll be cracking it open to find my strengths because I'm looking to switch careers and don't know exactly where to start. With this video, you've gained a new subscriber. Thank you for the information you have put out, I look forward to watching and learning from you both.
haha, no way! What a small little world. I graduated with my degree in 2015. Crazy. Also glad to hear you're into YNAB and checking out the Strengths Finder 2.0. That book was very helpful for us and I find myself referring back to my strengths at least every couple of months to make sure I'm using them in the right way. Totally understand the desire to switch careers (obviously lol). And I think the strengths finder is a great place to start. I would also recommend checking out Chris Guillebeau's sidehustleschool.com/ podcast. I know you may be looking for something more than a side hustle, but his stuff was really helpful to me for just opening my eyes to what all is out there. Good luck, and reach out if there's ever anything I can do to help! Nick
@@mappedoutmoney YNAB has been amazing so far and I plan on using it consistently. The book will certainly come in handy over the next few days. I checked out the website and have subscribed and downloaded the podcast in order to get some ideas going. It looks and sounds promising so thank you for the recommendation. I most certainly appreciate the offer to help, it means more than you'll ever know.
Nicholas Kalom glad to hear that man. Sounds like you’ve got the right attitude which counts for most of it. Glad you hear you getting after it my friend. Stay in touch. 👊
I'm a recent subscriber here and already love the vibe. I've been using YNAB for a few years and saw one of Nick's videos about it. This video is great because you two seem like real, down to earth people who I feel like I can relate to more than the "entrepreneurs" who post their hyped up videos of multiple streams of income. You broke things down well and made everything seem possible for anyone to do and gave good ideas. Thank you so much! I also love board games, Nick if you haven't heard of a game called Scythe I highly recommend it since it's very strategic!
Hey thanks Jacob! Really appreciate you watching and for the comment. Glad this felt more relatable and approachable. That was definitely our goal. And I haven't played Scythe! I'll have to check that one out. Appreciate the recommendation :)
I have watched a few of your videos for getting started with YNAB and have found them super helpful. Thank you!! My question is do you have any tips for budgeting mortgage payments bi-weekly instead of monthly? Under the "create a goal" section I see the options for every "month" or "week" option and I currently have a goal for "Every week" and have accommodated by cutting our bi-weekly payments in half, but I would like to set the goal to "Every 2 weeks" because then it would fall with our paychecks and be much smoother budgeting. I appreciate any and all help!
Hi there! New follower to Mapped Out Money. Loving your channel as I'm a big YNABer. Question: Have you guys been impacted with the YNAB affiliate as they transition to their new affiliate program/platform?
Hey! Good to see you here :) Yes, we have been affected for sure. Our amounts have gone down with their recent changes because I think we just get less people opting in now that we have a normal trial instead of the two free months. Hopefully when they get their new platform figured out, it will be an increase instead of a decrease. But it's definitely been lower the past few months.
most people are scared to leave a job that they think is secure and go into the unknown so they stay at their jobs. but the way you did it wouldn't be jumping into the deep end and give them the confidence to try. i think having all your eggs in one basket isn't the way to go anymore. timely video and i hope it helps a lot of people.
Totally agreed Kari. Thanks for stopping by! We definitely don’t like having all our eggs in one basket and like you said, we’re big fans of slowly building up over time rather than just jumping in.
Awesome video! Really interesting that the blogging started generating income via freelance writing, rather than from the blog itself. I may have to keep that in mind for my own blog.
Totally! You can absolutely use your blog as a testimonial/living resume of your work and then use that to pitch your freelancing services. I think it's the quickest and most straight-forward way to make money.
As always, great video guys! It was fun seeing your journey and how that is what makes it all worth it, the journey! Like others have said it’s hard for me to ever imagine being able to just drop my job, but it’s nice to dream haha I like for awhile there you had double protection kind of, especially for times like this. The freelancing for small businesses might have shored up, but I’m sure you would have a lot more people for classes trying to buckle down on money and vise versa. When times are booming more freelance, people being more free with their spending aka less class participation 🤷🏻♂️ Just an observation that may or may not be true but I thought was interesting!
Hey thanks! Good to see you. Yeah, i think it's important to recognize that it takes time and a lot of patience. It was hard to imagine at first for us too, but with enough trial, error, learning, gumption, and a little luck along the way, it's very doable. And yes, we've also been very conservative when leaving jobs. It's never been a jump off a cliff and build the airplane while falling thing... As for the freelancing, it just depends on the business. Some (not a ton) but some small businesses are thriving right now (think online retailers, home office equipment, home gym equipment, online learning platforms etc...) so it just depends on who you do freelance work for. But yes, your point stands that it's really important to have a variety of income sources and from different industries so that you can weather times like this. I have friends in the travel industry and talk about tough... it's real tough right now. As always, thanks for watching!
I'm curious how you transitioned from "full time job" sponsored health insurance to paying for personal insurance. Affording insurance is the main reason I haven't left my FT job yet even though I'm miserable there.
I love your videos, btw. I have always been interested but confused by personal finance. The YNAB app has flipped a switch for me though, and I'm obsessed. Your videos are the best! I hope you and Hanna got your kayaks!
Thank you, Nick and Hanna, for all your efforts to share great information :) I started your vids from "YNAB for beginners" and loved it since. Especially enjoyed this video as I too am working towards building my income streams. What drove you to build multiple income streams?
Great Video! MappedOutMoney has been a great source of learning and inspiration for a while now. This Pandemic Crisis along with your video and lots of time on my hands has got me in search of adding a few new tricks to my toolkit. I would love to know more about how Hanna (and you) got so good at the editing, graphics and youtube pop-ups links. Any chance of a tutorial video around how you guys started and then learned the 'you tube' channel ropes? What software do you use? Did you just head in a direction you are passionate about, or did you research the market? How did you get involved in affiliation? and then how do you grow your audience? Thanks again for all the fun and engaging tutorials!
Let's gooooo! You guys are the best! So proud of you and not surprised one bit to see how things are advancing for you. Two things you may not have mentioned that I get to share because I worked with you. 1) You are SUCH a servant. 2) You are super intentional. Thanks for being you and thanks for getting us started with YNAB. It has truly been a game-changer and is a huge reason as to why we are now considering real estate as a very near future investment too! All love to you and Hanna!
Dude!! So good to see you. Hope you're going well. Really appreciate you saying that and stopping by to watch the video. It was a pleasure working with you buddy. Definitely interested to hear more about your real estate investment plans!
Totally get that Shaun, a lot of scholarships can also be dependent on the school you went to and how competitive or not the area you're in is. Appreciate you watching though!
Hey Freya, good to see you! While you may not do the EXACT same things that we did, I do believe there are lots of ways to make extra money that can suit your strengths. The reason our path worked for us is that we leaned into things that naturally made sense for what were good at. I have zero doubt in my mind that you can make extra money using your skills and strengths, just have to find out what they are. As for believing. Not sure If another book recommendation will help but the book Mindset by Carol Dweck was an amazing book for both me and hanna to truly believe that what we wanted to do was possible. I’d love for you to check out that book Mindset. I think it would be extremely helpful for you because it’s honestly extremely helpful for everyone :)
Nick True - MappedOutMoney I’m adding it to my list of things to read! I’m reading some Buddhist books atm as going through a bad anxiety phase rn but always happy to follow your advice of course!
Nick True - MappedOutMoney thanks! I might reach out to update you eventually on how are things here! Still using YNAB even though is looking grim!!!! (If you need a spanish translator I’m happy to hustle for you, you got my email :) )
That’s odd. I’m not sure about the audible. I got the physical version. If you go to Gallups website, you can buy a test directly there which is what I did. I’m not sure if the assessment comes with the audible version or not.
@@mappedoutmoney ok, love your videos sir, I got YNAB a couple of weeks ago which is a game changer and then was watching budget nerds which is awesome and they had you on there and now I’m hooked on your videos great knowledge of personal finance and making extra income
@@domesticateddad-mr6pk That's awesome! I so appreciate you sharing that and glad you've really enjoyed the videos. I love IWT - that book changed my life when I read it. Glad you're here!
Potentially, I was in the power industry and it required LOTS of travel (flying all over) and really didn’t lend itself to living in an RV and traveling like we do. But I’m sure there are some jobs that can be done remotely as an engineer. Ultimately I wanted a career change and that was a big motivation for the path we chose.
Nick True - MappedOutMoney - yeah, I flipped careers from a Chem E to a Landscape Architect (wanted to be a Golf Course Architect). It was radical, and not at all seamless. But currently, at times, do consult with independent engineers on projects for electrical service and structural engineering, drainage too. LEED mostly involves buildings, but I could see an MEP engineer specializing in LEED to consult with clients on navigating the LEED process, for instance. Most MEP firms now do that too, so it might be tougher to crack into that revenue stream on large projects.
Nice! That's awesome Ronald. Congrats on the move, I know there's nothing seamless about that. That's cool you've been able to continue consulting. It's nice to have a few different ways to make money like that outside of your main thing. I can definitely see what you're saying, especially on smaller projects like you mentioned.
Would you say you've fully replaced your engineering income? And how come you left? As an electrical engineer just getting into this whole FIRE movement, I don't really see myself leaving my job. I make too much money for the actual amount of work i do. But maybe its cuz i'm a city employee and everythings a bit slower compared to when i was in the private sector. Anyways, I'm going to go try and find the video on freelance writing. That's one of my goals for the year to start a blog and eventually turn it into an income stream.
Hey Shaun! Yes, we have completely replaced it. For context, I used to make $70k/year as an engineer and now surpassed that by a good margin. As for why I left, two main reasons: 1. I didn't like it. Simple as that. I got the degree because I was good at math and that's what you were "supposed" to do. So that's what I did really without questioning it. But once I actually started paying attention to the field, and what I was doing, I just wasn't that interested and had a lot of other interests. 2. I really like business. Not just finance, but specifically building businesses. I've been making money and trying business since I was a little kid and that engineering job was the first time I had a "normal" job in my whole life. I realized quickly, I'm not cut out for the 9to5 life. I really wanted to be the owner and grow a business. But if you like your job, dude that's great! You should totally stay. Engineering can be a great field and I have a lot of friends who LOVE what they do. I wish I could say I did, but I didn't. So by all means, if it makes sense, you should stay. Not everyone should quit their job. However, if you're into FIRE and diversifying income alongside your job, I still think that's super smart. Here's my video about how I got started freelancing: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-_BZm_V0ucYs.html Hope that helps!
@@mappedoutmoney I've actually been questioning on whether or not I really like what I do. Similarly I chose engineering because I was good at math, and liked building things. When I was younger I pictured myself doing something with renewables, and now I work in utilities. At least in my current department I don't even like what I do (it's project management), I'd prefer to be out in the field doing testing or something with the renewable generation, and planning on transferring departments. But throughout school I was never one of those guys that would go to the engineering club or do crazy projects. So I suppose the bottom line is being an engineer is something I'd rather do, but part of that is simply the income. If all things being equal, would I prefer to just travel and collect dividends, rent, and affiliate income? Yes I guess it comes down to at what point would it make sense to leave my job? If you don't mind me asking, at what point did you leave? Were you already making close to your income level? And did you already own a house outright? Sorry for the novel haha. I guess i just need to take it one day a time. Going to start with the blog and see how it goes!
Hey all good questions and good thoughts to think about before making a call. If you’re interested check out this interview I did on choosefi where I share our story: www.choosefi.com/fi-lifestyle-before-fi-number/ But the short answer is no. I was only making around $1000/month when I left. But my wife had just started her full time job so now she was making plenty of money to support us. My freelancing was basically making enough that we felt if I could work on it full time and not spend 60hrs/week engineering then we could grow it quickly. It took me 8 months to replace my engineering income after I was full time on it. As for the home no. And we still don’t own a home or have a mortgage. Right now we own our two vehicles and our Airstream outright. And obviously have our investments. But we live off of our business. Hope that makes sense and happy to answer whatever and help however I can!
