IMG_6825.JPG

The Money Edit is for women who are passionate about personal finance and financial independence.

This is a place to change your mind about spending, saving and living your best life.

This is Chelsea: Super mom, homemaker and ambitious future real estate baron

This is Chelsea: Super mom, homemaker and ambitious future real estate baron

Chelsea is a cool Midwestern mom who LOVES her family. She's thoughtful, smart and absolutely knock-your-socks-off ambitious.

We met through this blog - Chelsea responded to my welcome email and I asked her about her goals. In a nutshell, Chelsea's goal is to be financially independent in the next 10 years. The vehicle by which she plans to achieve FI is real estate. She wants to own multiple duplexes, or triplexes with the goal of generating passive income for her family. Impressive, I know! And the best part is, it's absolutely possible!

The first thing we did is figure out her money goals in ranked order.

Short term

- Pay off 1 car loan ($9000)

- Purchase first income generating property (~$230,000, to do this she'll need to save 20% for a down payment)

Longer term (3 years or so)

- Buy another, turn her house into rental property, etc. 

My next "Chelsea" post is going to delve into more details on numbers and both short & long term strategies.

Chelsea agreed to share her story because we both know it's going to support other women who are in the same boat. She wants you to know that if you have dreams and passions in addition to being a stay at home mom you don't have to choose one or the other. You don't have to wait until your kids are grown up! With a little creativity and some time management, you can make the life you want for yourself and your family now.

Follow along as we explore Chelsea's story and support her ambitious goals in real time.

All of The Money Edit case studies will be stored here.

Who else is a stay at home mom with big goals & passions? Chelsea and I want to hear from you! Comment below :)

The Ditch Debt Series

The Ditch Debt Series

Yes, you can bank for free (and why you should take advantage of it)

Yes, you can bank for free (and why you should take advantage of it)