Hello there! Welcome to my blog, The Financial Freewill! My name is Saurabh Lodaria, and I go by “Sam”
If you:
- Aim to be Financially Independent
- Wish to leave the 9-5 routine for good
- Hope to escape the rush hour traffic
- No longer want to be trapped in your cubicle or workplace
- Dream about being your own boss
- Crave more flexibility in your life
- Live life on your OWN terms
Then, Welcome to the CLUB! We will be going on a fun-filled journey together and explore the world of Personal Finance.
I wish, when I was in my 20s, that I had access to all the tools and information that are available today, especially when it came to managing personal finances and different ways to grow your money. I created this blog to help, share my experiences and lessons learned with people (like you!) and to inspire you to take charge of your finances as early as possible (It’s never late to get your finances in order!)
Here’s more about me:
In 2008, I left my birth country (India), traveled approximately 9,000 miles and came to the United States (US) in pursuit of the American dream.
I had student loans from my post-graduation, no money and had borrowed $5,000 from my parents. Also, I was far away from the only home I knew at the time, alone, had no family in the US and had to build a life from scratch.
Coming to an unknown land, I was excited and scared at the same time. I had no idea what was in stored, and all I had was a dream that I set out to chase. There were a lot of voices inside my head trying to voice their respective opinions.
In other words, I was dealing with negativity, self-doubt if this was the right decision or not, what people would say if I fail, fear of letting down my parents and a million other self-deprecating thoughts.
Not a good situation to be in, isn’t it?
You see, I had just completed my 2-year full-time Post Graduate degree in Finance and Entrepreneurship, achieved good grades and had three lucrative job offers. The world tried to convince me to take up the option of corporate success.
But, I was neither convinced about it nor excited about the job offers.
Why?
Because I like to be different and think outside the box, I wanted to pursue a path that not a lot of folks would think about, especially after post-graduation. Also, I was more interested in something that involved risk, that challenged me, pushed me out of my comfort zone but at the same time, gave me happiness and satisfaction.
After multiple conversations with my mentors, family, close friends and some serious soul searching, I decided to come to the United States for further education and pursue my professional career. It’s like choosing to dive into the deep end of the pool and learning to swim.
Pretty nerve-wracking and scary, right?
And, guess what?
As soon as the word got out about my plans, within a few days, I learned that there were a lot of naysayers talking behind me back. The general thought was that I was foolish, naive and an irresponsible person to take such a massive risk (and say adios to those job offers!).
Now, I’m sure most of you would recall that 2008 was one of the most challenging times in United States history after the Great Depression!
The dire economic situation of 2008 further added fuel to the fire in my family, and I had a tough time convincing my parents about my chosen path. I have always been (still am :)) my momma’s boy and so she was really sad and concerned about my well-being.
When I first landed in the US, I had no cell phone, no social security, no job and for the first time, I felt the ground underneath my feet tearing apart ready to suck me in.
To be honest, I was extremely nervous and scared.
In the first month, I was homesick, lonely and had no idea how I was going to build my career and life in the land of opportunities.
I had about $11,000 in student loans when I first came to the United States and along with building my professional career, pursued an MBA Finance degree. In early 2011, I graduated and finally, all the hard work, sacrifices
I had managed to pay a good portion of tuition for my Master’s degree through my first couple jobs, and after everything was said and done, I had close to $35,000 in loans racked up.
It was exhilarating that I had completed my Master’s degree, but the very next day that feeling subsided. The fact that I now have $35,000 in loans to repay quickly kicked in and my mind was off to the races to chart an action plan.
The plan was to save as much as I could and quickly repay my loans. On average, I saved around 40% of my income. Of that 40%, 10% was strictly for emergency purposes. Through those jobs and being laser focused on executing the plan, I paid off my student loans in 2013, less than 3 years after graduating.
As with so many experiences in life, there is no gain without pain. One thing I knew for sure is that if I put in the effort, be dedicated and disciplined; I could achieve my goals and all that this beautiful country has to offer (no matter where you come from or how you look)
I feel incredibly grateful and blessed to have the opportunity to pursue my dreams in the land of opportunities. Along the way, I’ve made some meaningful and valuable connections, both personal and professional (Mentors, friends, family friends, work colleagues) and would have never met them, had I not stepped out of my comfort zone. I will cherish this till my last day on this planet.
Key Takeaways:
> Think outside of the box (consistently) – P
> Face your fears – If you don’t, then it will continuously rule your life and force you to make decisions that you do not want to make
> Build an action plan – Do not skip this. It is essential to put a plan in place, so you march in the right direction.
> Execute the plan – Be focused and disciplined enough to achieve what you want to. As you know, there are no shortcuts to success!
> Build a support network – This is a crucial element in your journey. Build meaningful, long term relationships that will come in handy when you need them the most.
> Enjoy the journey – Needless to say, none of the above matters if you are not having fun along the way!
Hard to believe it has been over a decade since I first came to the United States – I am a Financial Analyst by profession, have worked in many industries (Technology, Healthcare, Financial Services, Retail, Medical Devices to name a few), a homeowner, have a loving and caring wife, blessed with a beautiful daughter (she is almost 3 but talks like a teenager :)) and consider myself financially stable.
Also, I push myself hard not to have any credit card debt; even though, nearly all my transactions are through credit cards. All my cards are paid in full every 30 days (this is key), and I get to use the benefits and rewards that they offer.
So far, there have been couple instances where I did not pay the balance in full; the first time, I was lazy and forgot the due date and second, made the payment through a checking account that did not have enough balance (duh!!)
I come from a middle-class family, raised in a one income household. My dad had 60-70 hour work weeks (Monday-Saturday) and supported my brother and me through graduation. My mom, a homemaker provided private coaching lessons and made some side income to support the family.
As a family, we’ve seen tough times, and my parents always lead by example to show us that through hard work, dedication and the will to reach your goals, you can achieve anything.
There is always a light at the end of the tunnel (at least that’s my belief) and through hard work, dedication, discipline, planning, and precise execution, you can achieve your goals.
I hope that you find the content on this blog helpful and can implement the insights in your personal life.
For my interests, I like to socialize, play golf and cricket, enjoy movie time with my wife, playtime with my daughter, travel, invest in stock markets, find solutions to problems and be creative. Also, I
I am excited about my blogging journey with you, and I hope you have fun along the way!
