Lemire ignited a fierce online debate recently following a TikTok admitting that she’s expecting to make over $150,000 (about Shs554 million) this year, having earned $20,000 (about Shs73 million) in April alone.
Young entrepreneurs looking to establish financial independence should be willing to stay with their parents for a while longer and not rush to move out. This is according to 24-year-old TikToker, entrepreneur and personal finance influencer Grace Lemire. Despite her over Shs500 million income forecast this year, she maintains that living rent-free at home is one of her top financial savvy moves.
TikToker who makes Shs73 monthly has a financial tip for young entrepreneurs/Pexels/Cotton Bro Studios
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Although that is a good account balance, it is the fact that she still lives with her parents rent-free despite her high income, that set off the heated debate. The debate was between those calling her a "freeloader" and those calling it a smart move.
But here's why Lemire argues this move is a financial booster and keeps her focused on her finances.
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It all comes down to the money
Grace Lemire claims to make over Shs500 million a year while living rent-free with her parents
Pulse
The first reason is she gets a huge financial advantage amid a nationwide housing crisis which is steadily getting worse (rent prices in the US are already up 3% this year and are projected to rise another 3% to 4% in 2024 and 2025).
The second reason is the high financial risk of entrepreneurial ventures that she gets her income from. These ventures are unpredictable yet are the root of her financial well-being.
“I could go and get an apartment for $4,000 a month and then things could totally change two months into it,” she says.
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She added that her student loans are also an influential factor in her staying home with her parents. However, her parents are happy to help. In another video uploaded to her channel, she asks her dad if he wanted her to start paying rent after she revealed how much she makes. “No, I don’t see any reason to,” he says off-camera.
A strategy
Not all comments on her videos were negative, however. Some TikTok users applauded her entrepreneurial and financially savvy spirit. Her income stems from writing content for financial tech start-ups and giving advice to her 73,000 TikTok followers.
Final thoughts
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Entrepreneurial lifestyle should not be synonymous with cutting oneself off of support especially when it is available. Although the TikToker still lives with her parents, it doesn't stop her from pursuing her financial goals and establishing her career.
While she risks public scrutiny, isn't that just one of the risks many entrepreneurs face?
