ChooseFI

In this week's episode, Brad and Jonathan discuss a variety of tools that can help you stay on-top of your budget. Whether you create your own tracking systems or don't have any expense tracking systems in place yet, there likely is a tool mentioned in this episode that can help you get one step closer to your financial goals! Remember, keeping your expenses organized can help you take drastic steps forward in your FI journey!

• 0:56 - Introductions
• 3:57 - Identity Statements and Failure
• 9:55 - The Post Tax Season Check-Up
• 13:33 - The Large Tax Return
• 17:34 - Simplifying Your Financial Life
• 22:34 - Loading Your Financial Tool-belt
• 26:25 - Tracking The Cost Of Your Life
• 34:53 - Tracking Softwares
• 42:17 - Envelope Systems
• 46:44 - Should You Use A Budgeting Template
• 51:56 - Conclusion

• The Stacking Benjamins Podcast
• Wellbeing Monthly Budget Tool
• Vertex42
• Afford Anything With Paula Pant
• Tiller Money
• YNAB
• Do You Need A Budget? | ChooseFI Episode 165
• Intuit Mint
• Dave Ramsey's Envelope System
• EveryDollar
• It's Your Money Excel Deluxe Envelope Check Registrar
• Personal Capital
• Subscribe To The FI Weekly!

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile

In this episode: personal investments, 401k contributions, FI is for everyone, travel rewards, task management, and taxes.

On what is considered a very personal journey, how do you handle changes that feel like setbacks? Whether its spending more when you feel you should be saving, or re-evaluating goals based on what needs immediate attention, do you feel equipped to handle it with confidence? This week we are having a weekly roundup, and are re-joined by Ginger to not only answer listener’s questions, but discuss travel rewards, retirement accounts, and breaking away from the ultra frugal caricature often depicted alongside FI. While saving is an important factor on this journey, the main purpose of FI is to learn and live your life with intention as it relates to your money, goals, and values. Remember that it’s okay if some of your goals and values will change along the way! Allowing yourself to be flexible as it relates to external factors, like market volatility and your investments, will give you more power and control to continue ahead with confidence and optimism!

Timestamps:

• 1:04 - Introduction
• 3:31 - FI Is For Everyone
• 9:16 - Personal Investments
• 14:08 - Paying For Experiences
• 19:09 - An Introduction To FI
• 28:20 - Task Management
• 35:19 - Travel Rewards
• 47:06 - 401k Contribution Question
• 61:00 - Tax Season Hack
• 68:51 - The Content We Are Consuming
• 75:28 - Conclusion

Resources Mentioned In Today’s Episode:

• Four Thousand Weeks | ChooseFI Book Club | ChooseFI Ep 415
• "Dollars and Sense: How We Misthink Money and How to Spend Smarter" by Dr Dan Ariely and Jeff Kreisler
• "Die With Zero: Getting All You Can from Your Money and Your Life" by Bill Perkins
• The Peter Attia Drive
• All The Hacks
• Taking Stock of Your Life | Jordan Grumet | ChooseFI Ep 390
• Playing With FIRE
• Todoist
• Tim Ferriss
• Huberman Lab
• My First Million
• ChooseFI Travel Rewards
• Travel Rewards: How To Travel The World For Almost Free (The Easy Way) | ChooseFI Ep 9
• A Guided Meditation for When the Stock Market Is Dropping
• Go Curry Cracker | Capital Gains, Losses and The Roth Conversion Ladder | ChooseFI Ep 18
• "A Deadly Education" by Naomi Novik
• "The Premonition: A Pandemic Story" by Michael Lewis
• "The New New Thing: A Silicon Valley Story" by Michael Lewis
• "The Undoing Project: A Friendship Th...

In this episode: simplifying your financial life, Jeremy’s journey, dividend versus reinvesting, and automation.

This week we are joined by Jeremy Schneider of Personal Finance Club and co-founder of Nectarine, where we will be discussing the beginnings of his personal investment journey and what that looks like now, striving for simplicity while adding value to your life, as well as discuss the ins and outs of his platform Nectarine. Part of the journey to FI is about finding hacks and ways to make your life a little easier in order to add value, sometimes by keeping it simple. Whether with your finances or in other areas of your life, it is the best option in order for you to thrive!

• Website: personalfinanceclub.com
• Instagram: @personalfinanceclub

• The pitfalls of overcomplicating personal finance and investment strategies
• The power of simplicity in financial management and investing
• Mistakes made in early investing: complex ETFs vs. simple index funds
• Jeremy’s journey from selling his company to managing a $2M windfall
• The surprising truth about target date funds and why simplicity often wins
• The concept of “the more I tinker, the worse it gets” in investment strategies
• Personal finance habits that persist from childhood and their impact on adult financial decisions
• Dividends vs. reinvesting: pros, cons, and psychological aspects
• Understanding the differences between fiduciary financial advisors and those incentivized to sell products
• Why financial simplicity and automation can lead to better outcomes

• 00:00 – Introduction to Jeremy Schneider
• 02:00 – Simplicity vs. Complexity in Financial Decisions
• 03:30 – Jeremy’s $2M Windfall and Early Investing Mistakes
• 06:00 – Complex ETFs vs. Target Date Funds
• 08:00 – How Tinkering Can Lead to Worse Financial Outcomes
• 12:00 – Personal Finance Habits from Childhood
• 14:00 – Dividend Reinvestment: To Reinvest or Not?
• 18:00 – Simplifying Financial Life: Automating Investments
• 22:00 – The Dangers of Chasing Dividends
• 26:00 – Real-Life Examples of Bad Financial Advice
• 33:00 – The World of Financial Advisors: Fiduciary vs. Salespeople
• 39:00 – The Importance of Finding Unbiased, Advice-Only Financial Guidance
• 46:00 – Jeremy’s Key Takeaways on Simplicity and Financial Independence

• The 7 Sins of Investing
• Nectarine
• Subscribe to The FI Weekly!

• Top 10 Recommended Travel Rewards Credit Cards
• Empower: Free Dashboard to Track Your Finances
• CIT Bank Platinum Savings Account
• M1 Finance: Commission-Free Investing, 1-click rebalancing
• CashFreely: Maximize Your Cash Back Rewards
• Travel Freely: Track all your rewards cards and points
• Emergency Binder: For Your Family’s Essential Info (code ‘CHOOSEFI’ for 20% off)
• Student Loan Planner: Custom Consult (with $100 Discount)
• Get a cheaper phone plan with Mint Mobile

In this episode: finding your why, creating space, deprivation, board games, lesson learning, and decision making.

Whether you’re years into your FI journey or just beginning, evaluating your finances and spending, you may feel like you have to make some cuts into your favorite hobbies in order to reach your goal quicker. However, deprivation and cutting out the things that bring enjoyment into your life should never be the only option. This week we are joined by friend of the podcast Chris Terell to talk frugal hobbies, new experiences, and the parallels between strategies in board games and the strategies employed while on the journey to FI. While trying to optimize your experiences may mean changing hobbies and evolving, while doing so you may find new enjoyment, new communities, and values that come with these changes. Not everyone may have the same approach to a game, just as not everyone will have the same approach to achieving FI, but as long as you remember that being open to changes will allow you to not only optimize your experiences on that journey but optimize your FI.

Timestamps:

• 1:14 - Introduction
• 3:02 - FI And Pickleball
• 7:54 - Finding Your Why
• 12:50 - Happiness Is How You Fill Your Time
• 18:40 - It's Not About Deprivation
• 25:28 - Creating Space
• 35:46 - Strategy Board Games And Why They Are Great
• 45:54 - Strategy Boards Games, Decision Making, And Life
• 54:38 - The Top Four Concepts Of Strategy Board Games
• 72:58 - Starting Strategy Board Games
• 82:28 - Conclusion

Resources Mentioned In Today’s Episode:

• Mr Money Mustache
• The Motley Fool
• Board Game Geek
• Board Game Arena
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance

In this episode: early financial conversations, what you truly value, house hacking, and the psychology of FI.

It can be scary to have to acknowledge the reality of your financial situation, especially if you feel you do not have the financial literacy to proceed with confidence. However, setbacks and failures can often be blessings in disguise. This week we are joined by The FI Couple to discuss the importance of perseverance and flexibility in the face of uncertainty, as well as the strength that can come from a united front. The journey to FI is deeply nuanced, and never perfect. While you may find yourself wanting to make your journey as optimal and expedited as you can, we know that life sometimes happens and your journey can be far from perfect. However, sometimes when we find ourselves at “rock bottom” and it seems like everything in our world is against us. Rather than feel defeated, allow the setbacks to act as momentum to charge ahead as you re-align and re-adjust!

The FI Couple:

• Website: theficouple.com
• Socials: @theficouple

Timestamps:

• 0:49 - Introduction/The Early Days
• 2:05 - Early Financial Conversations
• 11:03 - Discovering What You Truly Value
• 21:28 - Bouncing Back After A Layoff
• 26:06 - Entrepreneurship
• 30:10 - House Hacking
• 38:34 - The Off Market/Solving Problems
• 43:13 - The Single Family Home/The Psychology Of FI
• 48:29 - The Season Of Hustle
• 51:56 - Conclusion

Resources Mentioned In Today’s Episode:

• Dominick Quartuccio
• Scott Trench
• Subscribe to The FI Weekly!

More Helpful Links and Resources:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Keep learning or start a new side hustle with one of our educational courses
• Commission-Free Investing with M1 Finance