32-year-old lawyer quits to become an indie hacker and lives on just $286 per month

32-year-old, Priyanka Prasad, was a lawyer with a solid income until she burned out, quit, and became an indie hacker.

Now, she's working on her product full time, living off the "rainy day" fund she saved while gainfully employed. She has 1.5 years of runway left, and she thinks she can make it happen.

Let's take a peek at her finances.

A background of financial prudence

Priyanka lives in Bangalore, India. She was raised in a household where every penny counted, so she was taught from a young age to be conservative with expenses — and to save up for rainy days.

She took this teaching to heart and created habits that allowed her to quit her job and pursue her indie-hacking dreams.

"I've been instilled with values of financial prudence and resourcefulness, which guide my approach to managing finances. These habits have not only provided a sense of security, but also empowered me by giving me the peace of mind to pursue my dreams."

Now, in both business and life, she only spends money where it counts.

But “where it counts” is subjective.

Why experiences matter most

Priyanka's mantra is, "Experiences over possessions". She says experiences are what makes life rich and fulfilling, so she's happy to spend money on them. She says that in the end, they're all that really matters.

But that doesn’t mean she never spends on things. Shopping is her guilty pleasure.

"It's a little treat to lift the spirits without breaking the bank. A woman has her needs."

She just keeps it in check by limiting each spree to $25.

How Priyanka spends her money

Given what we've learned so far about Priyanka, it's not surprising that her costs are low — only $286 per month. And they're largely focused on experiences.

Here's the spread:

• Housing: $0 (provided by her husband's work)

• Food: $37.5/mo

• Movies: $18.75/mo

• Travel: $30/mo

• Essentials: $25/mo

• Car Loan: $125/mo

• Gym: $10/mo

• Activities: $40/mo

She says she spends a lot on travel. And while most of us wouldn't call $30 per month "a lot", it's actually over 10% of her expenditures.

And she's okay with that. She says, “It's an investment in personal growth and inspiration,” and it ultimately benefits her business.

"Traveling is my secret sauce for inspiration. It's where I go to recharge and get those lightbulb moments. Stepping out of my daily routine, meeting new people, and experiencing different cultures always sparks fresh ideas that I can bring back to the business."

In other words, it pays for itself.

Priyanka's business spending

Priyanka is meticulous about budgeting, particularly in her business. She says it’s, “Especially important at this early stage.” So she knows exactly where every penny of her $182 goes each month:

• Webflow: $29/mo

• Digital Ocean: $35/mo

• BigRock (hosting): $12/mo

• Notion (project management): $16/mo

• Twitter: $9/mo

• Ubersuggest (SEO research and optimization): $17/mo

• GitHub Copilot: $10/mo

• BigRock Gsuites: $9/mo

• Zoom: $19/mo

• GMASS (marketing automation): $26/mo

Revenue via lifetime deals

Let’s talk about revenue. Priyanka is working on ProductLogz full time. She has some revenue coming in from lifetime deals, but she's still trying to find product-market fit. Once she finds it, she'll transition to recurring revenue.

Here’s what she’s bringing in.

• Revenue: $2051 to date

• Funding: Savings

• Savings: About 1.5 years of runway

• Founder pay: $0

Creating "comfortable" runway

Priyanka started indie hacking in July of 2023 with a solid 2.5 years of "comfortable" runway.

She managed this by putting away a little bit from every single paycheck when she was a lawyer. It was her "rainy day" fund, just like her parents taught her.

Now she's down to 1.5 years of runway and she says it'll be plenty.

Business savings via DIY

She's a firm believer in balancing savings with expenses. This means she always tries to save or invest a significant portion of her income — at least as much as her expenses.

"It's all about living comfortably without going overboard."

To save money in her business, she has become a do-it-yourselfer. She prefers to learn the necessary skills instead of outsourcing. It’s a great way to level up, and she says it’s necessary, considering the financial constraints of early-stage businesses.

Thanks to this mentality, she has grown some decent chops in design, marketing, and web development, all of which come in handy as an indie hacker.

Systematic investment plans

She uses a systematic investment plan (SIP) where she invests $187 every month, without fail — even now, with no income. In total, she has invested about $4.5k across her investments.

Those investments are PGIM India Midcap Opportunity, SBI Focused Equity Fund, and Mirae Asset Large Cap Fund. Her goal is slow-and-steady growth over time.

She uses Wealthy to manage her investments.

Focus on profitability before funding

Priyanka believes in bootstrapping — at least in the early stages, while she tries to find product-market fit and organic growth. But she isn’t opposed to VC funding.

Before even considering it, though, she’ll need her business to be profitable.

"Profitability before funding is my golden rule. The business needs to stand on its own two feet. This keeps the pressure off and gives me more control over the direction of the business."

This focus on profitability keeps her honest — it encourages her to be as efficient with resource allocation as possible. And it ensures long-term sustainability.

Diversify your projects

In addition to ProductLogz, Priyanka has several side hustles, including her newsletter, Prohance, and podcast, Founder Stories with Priyanka.

Why spread herself thin?

Diversification. She isn’t making anything off of them yet, but they’re an investment in future income. And in the meantime, they support her primary business goal by serving as additional marketing channels.

"Don't underestimate the potential of smaller projects to generate income and support your main venture. Persistence and financial prudence are key to long-term success."

You can find Prinyanka on X and LinkedIn. And check out her podcast, newsletter, and ProductLogz.

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

And if you'd like to be featured as a guest in a future interview for this series, let me know in the comments!

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