33-year-old prepares to leave his job, house, and everything else behind

33-year-old Wyatt Feaster just launched his side hustle, Email Emu. And in less than a year, he will quit his high-income job, leave his beautiful home, and hit the road as a full-time digital nomad.

He just needs to save up enough runway first, and he's well on his way. Let's take a peek at his finances.

Learning to be frugal

Wyatt's mother, a school teacher, taught him to be smart with his money. His father, a prison security guard, taught him how to enjoy it.

He remembers his mom shopping at Goodwill when he was a kid — not because she had to, but because she liked the thrill of finding a good deal.

As she walked out the door of the store, she would examine the receipt. And if she'd been overcharged by even a penny, she would march back in and get her money while he and his dad waited in the car.

This frugality rubbed off on him — he's always careful about how he spends his money. He doesn't buy "dumb things" that offer "temporary happiness". And, to his way of thinking, most material possessions fit under the category of "dumb things".

But that doesn't mean he doesn't spend money.

Balancing frugality with fun

Wyatt's father had his say too. And while he was responsible with his money, he liked to have fun with it.

In fact, Wyatt remembers his dad tempering his mother's frugality on more than one occassion. For example, she refused to eat out, so he would give Wyatt money to buy restaurant gift cards. These "gifts" that Wyatt would then give his parents meant that they had to go out to eat.

There is no point in working and saving everything if you never get to enjoy the little things in life that make it fun.

Thanks to this combination of opposing forces, Wyatt has found a balanced approach. And he finds that balance in his focus on experiences over things.

Material things like a new car, new clothes, etc., according to Wyatt, soon grow old. They'll be forgotten. But experiences are almost always worth it. If something — a trip, dinner with friends, or going to a new coffee shop — will create a memory, it's a worthwhile investment.

Buying inspiration

That's why he loves to spend his money on experiences — and specifically, experiences that inspire him. It's how he does his best work and lives his best life.

In his case, that means eating good food, going to new coffee shops, and, most importantly, traveling. It's like buying inspiration.

I get bored very easily being in the same location and seeing the same things. I need to move around to feel inspired.

His love of travel might come from his yearly frugal-but-fun family trips as a kid, which usually involved a road trip to somewhere within a day's drive of where they lived.

But wherever it comes from, his need to travel is strong. So strong, in fact, that he's becoming a digital nomad.

I’m chasing freedom over money.

Next summer, his fiancée and he are planning to leave Phoenix, Arizona and set up a homebase in Bali. They'll travel from there, indie hacking full time. He's just saving up the runway that he needs to give nomading — and Email Emu — a real shot.

Email Emu revenue

For now, Email Emu is a side hustle. He works on it about 10-20 hours per week.

It's a product that simplifies competitive email research, so that you can understand what email strategies are working best for other companies. He started building it because he, himself, wanted to learn about email marketing.

He just launched it this summer, so it's early days. But here's what he's bringing in:

• Revenue: $109 MRR (first customers came in last month)

• Full-time job: Undisclosed

• Rental property: $1k/mo

• Founder pay: $0

• Personal account: $160k+

• Business account: $15k (funded from his personal savings)

That healthy sum in his accounts is thanks to saving up money from his job and side gigs for two years. And he'll be saving up for another year before going full time on Email Emu.

That should give him plenty of runway, particularly if he's living cheaply as a nomad.

Investing in stocks and ETFs

In addition to saving, Wyatt invests regularly — somewhere between $1.5k and $2k per month.

It's a mix of stocks and Vanguard ETFs, with an 80:20 split.

As far as stocks, he's bullish on Nvidia because, as he says, "It's been crushing it." And overall, he only invests in companies that he knows and trusts.

As for the Vanguard ETFs, he says it's a "safe, low-risk investment that almost every finance person recommends".

He has no interest in crypto, as it's too volatile for his liking. And anyway, he just isn't interested in the space.

Email Emu expenses

While he can sling some code, he's a product designer by trade; not a developer. So, while his business expenses are pretty low, he has spent a good deal on building Email Emu — roughly $12k, total.

He admits that, given the early stage of the product, he overspent and built things that may not have been necessary.

Here are his monthly expenses:

• Webflow: $50

• Make: $11

• ChatGPT: $20

• OpenAI: $50-$150 depending on usage

• Xano: $89

• Development costs: $200 - $2k

Personal expenses

Here are his monthly personal expenses:

• Mortgages and maintenance: $4.8k

• Food and entertainment: $2k

• Medical and health: $360

• Car and life insurance: $667

• Software subscriptions: $44

• Travel: $500

• Utilities: $400-$980

Yes, that is mortgages, plural. One is his home. The other is a rental. It generally brings in about $1k per month before taxes.

Being smart about debt

Let's talk about those mortgages. They're his only debts, and he wants to keep them that way.

Don’t go into debt for dumb things you can’t afford.

But he isn't in a rush to pay them off. In fact, in his case, he says it wouldn't make sense for him to pay it off too quickly.

He got a mortgage on his rental property before the surge, so he only pays 2.75% interest. And, according to Wyatt, that means that making more than his minimum payment would actually be a bad investment, as he can get a higher return elsewhere.

Again, this mentality may come from his parents. They eventually invested in their dream home, but as they said, you have to be careful:

“You don’t want to be asset rich, but cash-poor.” — Wyatt's folks

Play the long game

Spend smart on the things that bring you happiness, without guilt. Don’t listen to people who tell you that you have to live as cheaply as possible. Life’s too short to not buy that coffee, take that trip, or grab dinner with your friend. It’s the long game.

Wyatt says you have to play the long game.

Start by saving up a year's worth of living expenses. It gives you the power to leave your day job without stress. And it provides you with the confidence to take that plunge into your own business.

Don't bother cutting costs to get there. He says that will make you miserable. Instead, increase your income.

Once you've saved up, take that leap.

And be patient! You can afford to, thanks to those savings.

Good things take time. Be patient. If hard things — or money — were easy to obtain, then you wouldn’t appreciate them as much. I always try to remember that.

You can follow him on LinkedIn as he becomes a digital nomad. Or check out Email Emu.

Please note that the above are opinions. This is meant for informational purposes only. It is not intended to be financial advice.