ChooseFI - 429 | FI Frugal Hobbies | Chris Terrell

429 | FI Frugal Hobbies | Chris Terrell

03/20/23 • 84 min

1 Listener

ChooseFI

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:

Previous Episode

428 | Fees, Frugality, and 401K Fears

1 Recommendations

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:

Next Episode

430 | Mindset, Financial Independence, and Real Estate | The FI Couple

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: