Hey folks! We’re kicking off a new series on our blog today: Money Stories. The goal of this series is to start the conversation about how being LGBT+ has affected our financial lives and hopefully help people feel inspired to talk more openly about money!
Daniella is a serial side hustler, entrepreneur and cat lover. Over the last 2 and a half years herself and her wife Alexandra have been able to pay off $35,000 in debt partially thanks to side hustles. She blogs over at ILikeToDabble.
When was the first time you thought about money?
The first real time I started thinking positively about money was when I was in my mid 20’s, reading articles about creating an emergency fund, investing, and started thinking about how money could be used as a tool. Before that, money was always a source of anxiety.
I remember growing up and being scared I wouldn’t make enough. If I could just live “comfortably”, I would be happy.
I never thought about being able to retire, travel, and what to do when my parents were reaching retirement. These weren’t the things they taught in school.
What was your “aha” moment with money?
When my wife and I had to go to the thrift store one weekend to get gas money and food money before we got paid the next week. We are both kind of spenders and did not normally budget our money together when we first got married.
The feeling of falling into a paycheck to paycheck cycle had us thinking more of the future and what we want to be able to do. Plus, we still had debt. We had to figure something out.
How has being LGBT+ impacted your relationship with money?
Among all my relationships, my wife and I actually have a pretty healthy relationship together with money where we have a clear set of goals we are going after. It took a while to get here because neither of us were really “money people” but over time and learning together, it kind of just fell into place. We actually started learning more about money together online from financial blogs and when I started my blog to track some of our side hustle progress. As we discussed these things we learned online together, and things started to make sense.
Now, we are fortunate enough to be able to bring in a good amount of money every month, our side hustles are going strong, and are planning to move cross country before the end of the year.
It wasn’t always this way though as I’ve had a very unhealthy relationship to money and it was source of anxiety for a long time (that anxiety still exists in the back of my mind too from time to time…because you never know what could happen).
I think it is also important to note that because we live in a cis-hetero society and economy that centers around those needs, the needs of the LGBT+ community often gets overlooked. A big one is healthcare and that adds more anxiety to the overall relationship I think most of us have with money (I know it is a source of anxiety for us).
What are your financial goals for the future?
Ally and I are planning to move to Washington State by the end of 2020. So, selling our current house and finding our new one is a big goal in the near future.
Besides that, we don’t have any really huge goals right now. We want to travel a lot in the coming years and money for that, savings, and running our side businesses are other top of mind goals. Continuing to diversify income is always a big running financial goal and priority for us.
I wanted to leave my day job in the next 5 years but that was before rona hit. After seeing what could happen when our economy collapses has me second-guessing that goal and if it needs to be pushed out. Regardless, we are continuing to diversify our income streams and stash money away so it grows over time and we create a more work-optional life.
Favorite LGBT+ business (online or IRL)?
TransTech Social Enterprises launched by Angelica Ross