My name is Holly Grosvenor and I grew up in a frugal household and was taught at a very young age to save. I remember the day my Dad showed me my savings account statement. I was 4 years old. He explained to me that I earn interest from the bank when I put money on this savings account. It was a basic lesson on compound interest. Of course, this was back in the 80s so the interest rate in that savings account was above 4%, so I was impressed.
My parents growing up taught me to save and they also taught me to spend my money wisely. If there was something I really wanted I should keep an eye out for good prices and save up for that item or experience. When I was 12 years old, I started babysitting as a side time job. I started making $4 an hour and I was thrilled. At that time, I knew if I saved it I could do more with that money later.
The Unexpectant Happens
At the age of 19, I lost my father to a heart attack. My mother and I supported each other by learning as we navigated their way through the family finances. Because my father handled the finances, it wasn’t clear how to even do simple tasks like pay bills. I learned a lot in a short period of time.
Back in 2004, we had under $30,000 of school loans and credit card debt that we managed to pay off by 2008, while saving a high percentage in retirement accounts. We have been debt-free except mortgage since 2008 and continue to have a high savings rate. We live in a high cost of living area so saving isn’t very easy. The cost of housing is very high compared to other parts of the country.
Three Kids later including Twins
In 2011, we decided that I would become a stay-at-home Mom to out three children. Both my husband and I wanted to be stay-at-home parents, and after talking it over we both agreed that I would stay-at-home and I’m so glad I did. It was scary going from two incomes to one income. This was shortly after I had my twin boys. We looked closely at our spending and were able to reduce it dramatically in as many areas as we could. We were able to still max out my husband’s retirement accounts. So glad we did.
I volunteered for several different local groups from 2011 to 2018. From 2016-2018 I have been Treasurer of a local MoMs club managing their budget and expenses.
Working towards Financial Independence
I believe working hard, saving, and being frugal are the keys to Financial Independence. My husband and I are now working towards Financial Independence. My definition of Financial Independence is having enough income from your assets to cover your essential expenses so that you can survive without ever having to work again. I believe that anyone can achieve this goal. Financial Independence means freedom to do what you want to do.
I graduated from George Mason University in 2001 with a degree in Public Administration and minor in Management.
From 2004-2011, I worked for several government contractors in the IT field. I handled the budget of multi-million dollar projects.