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• Layla Renner's current business started out as a side hustle but quickly realized it was lucrative.
• She decided to pursue it as a full-time business instead of seeking a career in law.
• This felt financially scary at first, but she believes this will build her more long-term wealth ultimately.
• Read more from Personal Finance Insider.

Less than two years ago, 22-year-old Layla Renner began her candle-making business, Calm and Scents, out of her dorm room. She planned to use her new side hustle as a way to pay for her future law school tuition.

She would quickly realize that she loved making and selling candles much more than the field she was studying to eventually be in.

"I did a couple of law internships and to be truthful, I didn't really enjoy them," said Renner. "I wasn't as happy as I was running my business."

Even so, she felt that couldn't justify giving up the potential lawyer salary at first. It was simply too risky — and despite being passionate, she knew passion alone couldn't dictate her future financial decisions.

However, she would discover within a few months that her side hustle had the potential to become a six-figure business. So, after finishing her undergraduate degree, Renner decided to pursue Calm and Scents full-time rather than attend law school.

She said that wasn't an easy decision for her, and there were many factors to consider while weighing the risks with potential rewards. However, once the business started making real money, she realized that she could both have stability and follow her dreams.

"The numbers spoke to me so it was a practical option, but it was also the option that made me happiest," said Renner.

There are three reasons she gave when explaining why pursuing her business was the better choice for her wallet.

1. The earning potential dwarfed earnings she could make as a lawyer

When Renner's business hit six-figures in just a few months, she was doing it part-time, fully online, and out of her dorm room with zero employees.

Her earnings were comparable to the yearly starting salary for lawyers in her area, and she realized that candle-making didn't have to fund her future — it could be her future. 

She also realized she could have immeasurably more success by focusing on her business full-time and investing in a better workspace. 

2. She's helping her family financially and creating generational wealth

Renner comes from a family that struggled financially, and she was the first to attend college. So a huge factor in choosing careers for her was financial stability.

Through her current business, Renner not only has financial stability, but has become the main earner in her family, who she helps financially. 

"In the months that my family experienced unemployment due to the pandemic my business was able to supplement that and provide for everyone," Renner said. 

She's also hoping that her earning plus the lack of student loan debt from law school will help her build generational wealth.

"I realized the amount of debt I'd go into over law school and the amount of years I'd have to work to earn a high salary wasn't worth it," said Renner. "With my business, I feel that the sky's the limit. Within law, I felt there was a cap with what I could do."

3. Living frugally helps her business grow even more

Renner has been able to grow her business by continuing to live frugally. Currently, her business averages between $12,500 and $13,000 in profits every month, and because of her frugality, she is able to save an average of 20% of her income.

For Renner, it's been worth it to prioritize the long-term future of her business by living below her means. This allows her to invest in resources to grow her business, like having a physical shop space, as well as have an emergency fund. 

Rebecca VanderKooi Rebecca VanderKooi is a journalist, author, playwright, and screenwriter who is passionate about amplyfying diverse voices. Her book, "Still in There," is published on Amazon. Read more Read less

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