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Mike and Lauren
Learn how embracing DIY into your life can help you become financially independent. See how Mike and Lauren were able to travel and save more with frugal and savvy habits.
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DIY and the Financially Independent Lifestyle
One thread that I’ve seen with couples who are financially independent or well on their way is their DIY mindset.
With licensed professionals charging $80-$150/hour, the financial benefits of doing things yourself can be huge. When you get estimates for car repairs or home projects, a huge chunk is usually labor.
There are certainly times when I’d want a licensed professional to take care of the work. But what if you could take on some of the labor yourselves?
How much money do you think you can save? What do you think you could do with that money?
For Mike and his wife Lauren, they found that a frugal and do it yourself lifestyle allowed them to do more of what they love and move them closer to financial independence.
This DIY mentality started shortly after they got married. While Mike had grown up building stuff, Lauren was a beginner. But that didn’t stop her from picking up some skills.
Taking on projects themselves help them grow their net worth. Some of the money saved is going towards retirement while some towards more immediate goals such as traveling.
Embracing DIY Show Notes
- How DIY can save you a ton of money
- Mike and Lauren’s first projects together
- How they were able to backpack around Europe
Selected Links from the Episode:
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Mike and Lauren show how DIY home and car repairs can save you a ton of money. Learn what tools you need and which projects to start out with, no matter your skills.
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Welcome to the second season of the Couple Money Podcast!
We have more experts, more stories, and more tips on how the two of you can build up your marriage and finances. And sometimes the building part is literal.
For a lot of couples their homes and cars are some of their biggest expenses. While you may not be able to eliminate them overnight, you two can save a ton of money by picking up some new and handy skills.
Now if you have a major problem, by all means call a professional. That said, you may be surprised at how much you can do on your own.
There are plenty of basic and necessary skills and jobs you can do yourself. A good plumber can be pricey, so don’t waste your time calling them for small projects like unclogging your toilet.
Even though we’ve picked up here & there what we needed to keep things running smoothly around our place, I don’t think you’d like to get Do It Yourself ideas from us.
Thankfully we have Mike and Lauren (here’s their story) as guests who make DIY not only fun, but romantic.
Resources Mentioned on the Show
I highly recommend you go to their channel – Mike & Lauren – and subscribe. It’s more than just DIY – it’s a little bit of everything which is why I love it.
A few of my favorites videos are:
- Ways We Save Money For Early Retirement
- How to Buy a Used Car (Without Getting Ripped Off)
- Does Homesteading Save Money? feat. BABY GOATS!!!
Mike and Lauren also had few picks you may love:
If you want to get started, here’s a Big List of DIY Home Repairs and Maintenance.
Let me know if you have any tips on fixing stuff around the house.