Sometimes life can be so hectic and overwhelming.  We get so involved in planning and checking off goals that the WHY of why we do it all anyway can get drowned out.  In today's episode, Wendy and Curtis will be sharing about their week at the FI Chautauqua in Portugal and how being in the quiet of such a beautiful country surrounded by like-minded fellow-FIers helped them come to some hard decisions.  Chautauqua also allowed Wendy and Curtis to look back and see how far they have come in the 365ish days since the last FI Chautauqua in Greece.  In this past year, they have made some pretty out-of the box moves and well as some HUGE progress on their financial goals.   They have paid off all their consumer debt. YES!  They have cut their expenses by about $6500.00 A MONTH.  A MONTH! You read that right.  Wendy was able to close her law practice.  Curtis and Wendy are able to support their 8 family household on one income for the first time in their lives.  They are also under contract on four investment properties which will add another $1,100.00 of cash flow into their monthly budget.  And finally, Curt and Wendy have increased the amount of Curt's contributions to his 403b and his 457.  They are committed to increasing his contributions quarterly until both accounts are maxed out.   What a difference one year makes.  The difference is COMMUNITY.   It has been widely quoted that you are a compilation of the five people you surround yourself with.  YOU are this community and together we can all make a difference in each others lives.  Lastly, Curt and Wendy share a major change for House of FI.  We encourage you to listen to this episode and find out how you can stay informed about the future of the House of FI Podcast.    There are several ways you can stay connected with Curtis and Wendy.   1. Join their Private Facebook Group 2. Join their newsletter

Sometimes life can be so hectic and overwhelming.  We get so involved in planning and checking off goals that the WHY of why we do it all anyway can get drowned out.  In today's episode, Wendy and Curtis will be sharing about their week at the <a href="https://www.fichautauqua.com/" rel="noopener nofollow" target="_blank">FI Chautauqua</a> in Portugal and how being in the quiet of such a beautiful country surrounded by like-minded fellow-FIers helped them come to some hard decisions.  Chautauqua also allowed Wendy and Curtis to look back and see how far they have come in the 365ish days since the last <a href="https://houseoffi.com/how-we-saved-4000-00-on-our-first-international-vacation/" rel="noopener nofollow" target="_blank">FI Chautauqua in Greece</a>.  In this past year, they have made some <a href="https://houseoffi.com/7-unconventional-money-moves/" rel="noopener nofollow" target="_blank">pretty out-of the box moves</a> and well as some HUGE progress on their financial goals.  <ul> <li>They have paid off all their consumer debt. YES! </li> <li>They have cut their expenses by about $6500.00 A MONTH.  A MONTH! You read that right. </li> <li>Wendy was able to close her law practice. </li> <li>Curtis and Wendy are able to support their 8 family household on one income for the first time in their lives. </li> <li>They are also under contract on four investment properties which will add another $1,100.00 of cash flow into their monthly budget. </li> <li>And finally, Curt and Wendy have increased the amount of Curt's contributions to his 403b and his 457.  They are committed to increasing his contributions quarterly until both accounts are maxed out. </li> </ul> What a difference one year makes.  <a href="House%20of%20FI%20-%20Financial%20Independence%20for%20Families" rel="noopener nofollow" target="_blank">The difference is COMMUNITY. </a> It has been widely quoted that you are a compilation of the five people you surround yourself with.  YOU are this community and together we can all make a difference in each others lives.  Lastly, Curt and Wendy share a major change for House of FI.  We encourage you to listen to this episode and find out how you can stay informed about the future of the House of FI Podcast.  There are several ways you can stay connected with Curtis and Wendy.   1. Join their <a href="House%20of%20FI%20-%20Financial%20Independence%20for%20Families" rel="noopener nofollow" target="_blank">Private Facebook Group</a> 2. Join their <a href="https://houseoffi.com/" rel="noopener nofollow" target="_blank">newsletter</a>

You Matter - Prioritizing Your WHY Even When It's Hard

There is no one way to Financial Independence. However, if you want to speed up your timeline to Financial Independence and Early Retirement - one of the best ways to do that is to increase your income via a side-hustle or a small business.  Today we share one of our favorite side-hustler extraordinaires, Julie, from the Millennial Boss blog and The Fire Drill Podcast.  Not only is Julie killing it in her regular jobs, but she blogs, podcasts and has found multiple ways to add income into her budget via other side-business, like an ETSY shop.   We have been SUPER inspired by her story and hope you are too!  AND you are listening just in time to hear that the courses she has mentioned will be opening up again soon in November.  If you would like to get on the list to be notified of when they open, follow the links below.  When you use our links, it is tracked and we get credit for a portion of the sale if you eventually decide to take one of their courses.  SIGN UP WITH OUR LINK HERE The proceeds help you support our show and we thank you in advance for showing us a little love. As a show of our gratitude, when you sign up using one of our links, we will email you a copy of our printable Financial Planner Bundle for FREE.   (You must have a confirmed purchase via the link to receive the download for free.)  If you would like to purchase our Money Foundations Financial Planner Bundle, you can do that HERE.

There is no one way to Financial Independence. However, if you want to speed up your timeline to Financial Independence and Early Retirement - one of the best ways to do that is to increase your income via a side-hustle or a small business.  Today we share one of our favorite side-hustler extraordinaires, Julie, from the Millennial Boss blog and The Fire Drill Podcast.  Not only is Julie killing it in her regular jobs, but she blogs, podcasts and has found multiple ways to add income into her budget via other side-business, like an ETSY shop.  We have been SUPER inspired by her story and hope you are too!  AND you are listening just in time to hear that the courses she has mentioned will be opening up again soon in November.  If you would like to get on the list to be notified of when they open, follow the links below.  When you use our links, it is tracked and we get credit for a portion of the sale if you eventually decide to take one of their courses.  <a href="https://wendymays--gold-city-ventures.thrivecart.com/freelance-toolkit/5d0ac00ccd648/" rel="noopener nofollow" target="_blank">SIGN UP WITH OUR LINK HERE</a> The proceeds help you support our show and we thank you in advance for showing us a little love. As a show of our gratitude, when you sign up using one of our links, we will email you a copy of our printable Financial Planner Bundle for FREE.  (You must have a confirmed purchase via the link to receive the download for free.)  If you would like to purchase our Money Foundations Financial Planner Bundle, you can do that <a href="https://www.etsy.com/listing/721161769/finance-planning-printable-binder-budget?ref=shop_home_active_1" rel="noopener nofollow" target="_blank">HERE.</a>

ENCORE Episode Creating a $45,000 a Year Side-Hustle

Patrick Aime grew up in poverty and unrest in Rwanda but he had a dream of coming to the United States to make his own destiny.  His pathway to the United States was via sports. First, he finished high school in Belgium and then came to the United States to play basketball in college. In this Encore Episode, you will hear how Patrick achieved made his way to America - achieved success, made a lot of money and then lost it all.  It was devastating, but Patrick used the grit and determination that got him to the U.S. to rebuild himself a second time.  This time he understood the value of money and what he needed to do to rebuild his future. He saved and spent well. Now Patrick has retired in his forties, he is Financially Independent and spends his time between one of his residences in Cabo San Lucas and San Diego. 

Patrick Aime grew up in poverty and unrest in Rwanda but he had a dream of coming to the United States to make his own destiny.  His pathway to the United States was via sports. First, he finished high school in Belgium and then came to the United States to play basketball in college. In this Encore Episode, you will hear how Patrick achieved made his way to America - achieved success, made a lot of money and then lost it all.  It was devastating, but Patrick used the grit and determination that got him to the U.S. to rebuild himself a second time.  This time he understood the value of money and what he needed to do to rebuild his future. He saved and spent well. Now Patrick has retired in his forties, he is Financially Independent and spends his time between one of his residences in Cabo San Lucas and San Diego.

1st Generation Immigrant - the Climb from Poverty to Financial Independence

This week, we speak with Dan Shaw.  In this encore episode, we will hear how Dan engineered his retirement in just five years.  He was working 60-70 hours a week and was miserable.  He decided he had had enough and after a particularly hard day at work began executing a plan to become Financially Independent.  He and his wife buckled down on their spending, ramped up their retirement accounts, optimized their taxes and increased their income via rental properties. He and his wife hit their goal in five years! Now Dan is retired and gets to spend most days with his two daughters as manage his rental properties and projects at home.  It's a really great episode to hear some excellent tactics you can apply to your own FI/RE journey. 

This week, we speak with Dan Shaw.  In this encore episode, we will hear how Dan engineered his retirement in just five years.  He was working 60-70 hours a week and was miserable.  He decided he had had enough and after a particularly hard day at work began executing a plan to become Financially Independent.  He and his wife buckled down on their spending, ramped up their retirement accounts, optimized their taxes and increased their income via rental properties. He and his wife hit their goal in five years! Now Dan is retired and gets to spend most days with his two daughters as manage his rental properties and projects at home.  It's a really great episode to hear some excellent tactics you can apply to your own FI/RE journey.

Encore Episode - From 70 Hours a Week to Stay at Home Dad

In today's bonus episode, Wendy and Curtis discuss the fourth tenet of the FIRE (Financial Independence Retire Early) Movement - which is to increase your savings rate.   In previous episodes we discussed the previous three tenets which are:  1. Rejecting Consumerism 2. Redefining Retirement  3. Tax Optimization  A good portion of the United States population has saved less than $200,000.00 towards their retirement.  Many will simply have Social Security as their only means of income upon retirement.  In a recent CNBC article, they state that many experts recommend people save seven times their annual income for retirement.  This is stark contrast to the minimum suggested by the FIRE community, which is at least 25 times your living expenses.  To achieve that number, it is not unusual for members of the community to save upwards of 40%, 50% or even 75%.  If you are not able to save that much, does that mean you are excluded from the FIRE community?  OF COURSE NOT.  The point is to strive to increase your savings rate as much as you are able to.  One step we have taken to increase our savings rate is to allocate all raises and extra income earned to our retirement.  This automatically increases your savings rate.  We hope this episode has been helpful to you.  If you want to help create a solid money foundation and get your financial house in order, we invite you to participate in our FREE 7-step Money Foundations Course. 

In today's bonus episode, Wendy and Curtis discuss the fourth tenet of the FIRE (Financial Independence Retire Early) Movement - which is to increase your savings rate.   In previous episodes we discussed the previous three tenets which are:  1. <a href="https://houseoffi.com/episode-56-bonus-the-tenets-of-fi-re-with-wendy-and-curtis/" rel="noopener nofollow" target="_blank">Rejecting Consumerism</a> 2. <a href="https://houseoffi.com/episode-57-bonus-how-we-plan-to-retire-at-55/" rel="noopener nofollow" target="_blank">Redefining Retirement </a> 3. Tax Optimization  A good portion of the United States population has saved less than $200,000.00 towards their retirement.  Many will simply have Social Security as their only means of income upon retirement.  In a <a href="https://www.cnbc.com/2019/06/26/how-much-americans-have-saved-for-retirement.html" rel="noopener nofollow" target="_blank">recent CNBC article</a>, they state that many experts recommend people save seven times their annual income for retirement.  This is stark contrast to the minimum suggested by the FIRE community, which is at least 25 times your living expenses.  To achieve that number, it is not unusual for members of the community to save upwards of 40%, 50% or even 75%.  If you are not able to save that much, does that mean you are excluded from the FIRE community?  OF COURSE NOT.  The point is to strive to increase your savings rate as much as you are able to.  One step we have taken to increase our savings rate is to allocate all raises and extra income earned to our retirement.  This automatically increases your savings rate.  We hope this episode has been helpful to you.  If you want to help create a solid money foundation and get your financial house in order, we invite you to participate in our <a href="https://houseoffi.com/money-foundations/" rel="noopener nofollow" target="_blank">FREE 7-step Money Foundations Course. </a>

Increase Your Savings Rate the Fourth Tenet of the FIRE Movement

Eleven years ago Dawn Holley found herself single after the unexpected death of her husband.  As anyone can imagine, her world was turned upside down. In this episode, we have a candid discussion with Dawn about the challenges of parenting and picking up the pieces of her life financially unprepared.  With no safety net, Dawn had to make very quick decisions about what items she could sell in her home - just to survive.  She packed up what was left and moved herself and her son into her parents home.  As she and her son attempted to pick up the pieces, Dawn took the first job she could find, but the pay was not much and covered just enough for daycare for her son and for food.  Dawn knew that she needed to increase the income she was earning at the time, of about $20,000.00 to at least six figures.  From there she was very deliberate in deciding what type of career she wanted.  Some of the requirements Dawn decided on were:  1. They had to be within driving distance of her parents so she could continue to live for free.  2. She had to have the ability to earn six figures.  3. The program had to be free - so she would not incur any debt.  Dawn eventually found an accelerated federal program that was one year and was free. (AMAZING RIGHT?)  She then treated every clinic she worked in while she was in the program as a job interview.  Her thought was that she was building relationships that could help her after she graduated.  After several years of hard work and of strategically moving her way up - Dawn reached her goal of six figures.  She is now focusing on creating multiple streams of income as she pursues Financial Independence.  In addition to her income from wages, she is building her rental income portfolio and other business endeavors.   Where Can You Find Dawn:  Stepping Stones to FI  Dawn's Favorite Read:  The One Thing

Eleven years ago Dawn Holley found herself single after the unexpected death of her husband.  As anyone can imagine, her world was turned upside down. In this episode, we have a candid discussion with Dawn about the challenges of parenting and picking up the pieces of her life financially unprepared.  With no safety net, Dawn had to make very quick decisions about what items she could sell in her home - just to survive.  She packed up what was left and moved herself and her son into her parents home.  As she and her son attempted to pick up the pieces, Dawn took the first job she could find, but the pay was not much and covered just enough for daycare for her son and for food.  Dawn knew that she needed to increase the income she was earning at the time, of about $20,000.00 to at least six figures.  From there she was very deliberate in deciding what type of career she wanted.  Some of the requirements Dawn decided on were:  1. They had to be within driving distance of her parents so she could continue to live for free.  2. She had to have the ability to earn six figures.  3. The program had to be free - so she would not incur any debt.  Dawn eventually found an accelerated federal program that was one year and was free. (AMAZING RIGHT?)  She then treated every clinic she worked in while she was in the program as a job interview.  Her thought was that she was building relationships that could help her after she graduated.  After several years of hard work and of strategically moving her way up - Dawn reached her goal of six figures.  She is now focusing on creating multiple streams of income as she pursues Financial Independence.  In addition to her income from wages, she is building her rental income portfolio and other business endeavors.   Where Can You Find Dawn:  <a href="https://steppingstonestofi.com/about-me-stepping-stones-to-fi/" rel="noopener nofollow" target="_blank">Stepping Stones to FI </a> Dawn's Favorite Read:  The One Thing

Suddenly Single - Parenting and Financial Insecurity 

In this encore episode, we discuss how to use real estate investing as a means to Financial Independence.  As we dive into our first go at real estate investing (well, really our second - but that's a whole notha' story), we thought this was a perfect show to come back to as we update you on our progress.   David Greene of Bigger Pockets was our guest on this episode and it is a great overview of the BRRRR method of real estate investing. It's a really great show.  We will see you all back here on Friday!  Where you can find David:  His Website Instagram  Facebook

In this encore episode, we discuss how to use real estate investing as a means to Financial Independence.  As we dive into our first go at real estate investing (well, really our second - but that's a whole notha' story), we thought this was a perfect show to come back to as we update you on our progress.   <a href="http://greeneincome.com/author/davidgreene/" rel="nofollow" target="_blank">David Greene</a> of <a href="https://www.biggerpockets.com/dashboard" rel="nofollow" target="_blank">Bigger Pockets</a> was our guest on this episode and it is a great overview of the BRRRR method of real estate investing. It's a really great show.  We will see you all back here on Friday!  Where you can find David:  His <a href="http://greeneincome.com/" rel="nofollow" target="_blank">Website</a> <a href="https://www.instagram.com/davidgreene24/?hl=en" rel="nofollow" target="_blank">Instagram</a> <a href="https://www.facebook.com/davidgreene24" rel="nofollow" target="_blank">Facebook</a>

Investing in Real Estate to Reach Financial Independence

In today's show, we discuss the Second Tenet of FI which is Redefining Retirement. For some, that means retiring in the traditional sense and not working at all; for others, it simply means choice or freedom to do what you want.  This may mean working on passion projects or just working less.  It also means rejecting the traditional retirement age of between 65 and 75.  Choice, Freedom and Retiring "to" something were the common themes when others were asked what Financial Independence means for them.  Financial Independence means you have enough passive income via investments to cover your living expenses when you choose to retire.  For many, that means they have saved at least 25 times their annual expenses.  Then, based upon a safe withdrawal rate of 4%, you are free to withdraw that amount every year to live on. If you want to get a more in-depth explanation, this article from Kiplinger is one we refer back to often. It is important to remember that the 4% rule is simply a guideline and you may need to adjust up or down depending on a variety of factors. Another way, and the one we plan to use to retire at 55, is to have income properties that generate an annual income at least equal to our living expenses. Our plan is to continue to invest in low-cost index funds but we do not intend to draw upon them if we don't have to.  If all goes as planned,  our index funds will be left as a legacy for our children. 

In today's show, we discuss the Second Tenet of FI which is Redefining Retirement. For some, that means retiring in the traditional sense and not working at all; for others, it simply means choice or freedom to do what you want.  This may mean working on passion projects or just working less.  It also means rejecting the traditional retirement age of between 65 and 75.  Choice, Freedom and Retiring "to" something were the common themes when others were asked what Financial Independence means for them.  Financial Independence means you have enough passive income via investments to cover your living expenses when you choose to retire.  For many, that means they have saved at least 25 times their annual expenses.  Then, based upon a safe withdrawal rate of 4%, you are free to withdraw that amount every year to live on. If you want to get a more in-depth explanation, <a href="https://www.kiplinger.com/article/retirement/T037-C032-S014-is-4-withdrawal-rate-still-a-good-retirement-rule.html" rel="noopener nofollow" target="_blank">this article from Kiplinger</a> is one we refer back to often. It is important to remember that the 4% rule is simply a guideline and you may need to adjust up or down depending on a variety of factors. Another way, and the one we plan to use to retire at 55, is to have income properties that generate an annual income at least equal to our living expenses. Our plan is to continue to invest in low-cost index funds but we do not intend to draw upon them if we don't have to.  If all goes as planned,  our index funds will be left as a legacy for our children.

BONUS Episode - Redefining Retirement, How We Plan to Retire at 55

Is it your dream to travel the world, but the one thing that prevents you is that you have children? In today's episode, we talk to Vicki Van Essen, who has traveled the world full time with her husband and children for the past year.  When asked if it was everything she dreamed of, she responded... ...you'll have to listen to the full episode to hear her response!  IT BEGAN WITH AN IDEA The dream began percolating several years ago before Vicki's second son was born.  She and her husband, who is from Morocco, each had family ties to other countries and really wanted to travel more. The more the desire grew, Vicki began researching whether or not it was even possible.  GETTING CONNECTED One of the first things Vicki did was to get connected with other people who were traveling the world or who wanted to travel the world with children.  She connected with other parents in a Facebook group. It was through this group that she began to develop the idea and really begin to think of what it would take to implement such a wild plan.  Would her husband truly be on board?  DEVELOPING A PLAN To her elated surprise, her husband very quickly was on board with the idea. They would need to think about several things:   Income Cost Housing  Visa/other travel restrictions Healthcare and other insurance Schooling  Lack of family friends  Alone time  In the episode, you'll hear how Vicki and her husband tackled each one of these issues.  We also discuss the most family-friendly countries as well as whether or not they had any cause for concern as a multi-cultural family.  VICKI'S TIP FOR MAKING THIS LIFESTYLE WORK:  It is important to check-in with every family member to make sure they are ok with the arrangement.  Because if it's not working for one family member, it's not working for anybody.  STAGES OF FI  Before leaving to travel the world, Vicki and her husband were "Coast FI" this gave her and her husband assurances that they would be OK financially.    DO YOU WANT TO TRAVEL THE WORLD AS A FAMILY?  Vicki suggested checking off some of these boxes first:   Passports Where you want to go and how long you can stay there Health insurance and/or travel insurance  Know your budget and expected budget while traveling    VICKI ON THE FINAL QUESTIONS Money lessons from childhood?  Vicki remembers her mother asking, "do you really need that?"  This has helped her in life and during travel.    Lessons she would like to pass on to her children:  Money translates into freedom.   WHERE TO FIND VICKI Instagram - onewayticketfamily Onewayticketfamily.com  Other Resources Mentioned: Worldschoolers Facebook Group   VICKI'S FAVORITE READ Blog: Our Next Life

Is it your dream to travel the world, but the one thing that prevents you is that you have children? In today's episode, we talk to Vicki Van Essen, who has traveled the world full time with her husband and children for the past year.  When asked if it was everything she dreamed of, she responded... ...you'll have to listen to the full episode to hear her response!  IT BEGAN WITH AN IDEA The dream began percolating several years ago before Vicki's second son was born.  She and her husband, who is from Morocco, each had family ties to other countries and really wanted to travel more. The more the desire grew, Vicki began researching whether or not it was even possible.  GETTING CONNECTED One of the first things Vicki did was to get connected with other people who were traveling the world or who wanted to travel the world with children.  She connected with other parents in a Facebook group. It was through this group that she began to develop the idea and really begin to think of what it would take to implement such a wild plan.  Would her husband truly be on board?  DEVELOPING A PLAN To her elated surprise, her husband very quickly was on board with the idea. They would need to think about several things:  <ul> <li>Income</li> <li>Cost</li> <li>Housing </li> <li>Visa/other travel restrictions</li> <li>Healthcare and other insurance</li> <li>Schooling </li> <li>Lack of family friends </li> <li>Alone time</li> </ul> In the episode, you'll hear how Vicki and her husband tackled each one of these issues.  We also discuss the most family-friendly countries as well as whether or not they had any cause for concern as a multi-cultural family.  VICKI'S TIP FOR MAKING THIS LIFESTYLE WORK:  It is important to check-in with every family member to make sure they are ok with the arrangement.  Because if it's not working for one family member, it's not working for anybody.  STAGES OF FI  Before leaving to travel the world, Vicki and her husband were "Coast FI" this gave her and her husband assurances that they would be OK financially.  DO YOU WANT TO TRAVEL THE WORLD AS A FAMILY?  Vicki suggested checking off some of these boxes first:  <ul> <li>Passports</li> <li>Where you want to go and how long you can stay there</li> <li>Health insurance and/or travel insurance </li> <li>Know your budget and expected budget while traveling</li> </ul> VICKI ON THE FINAL QUESTIONS Money lessons from childhood?  Vicki remembers her mother asking, "do you really need that?"  This has helped her in life and during travel.  Lessons she would like to pass on to her children:  Money translates into freedom.   WHERE TO FIND VICKI <a href="https://www.instagram.com/onewayticketfamily/" rel="noopener nofollow" target="_blank">Instagram - onewayticketfamily</a> <a href="https://www.onewayticketfamily.com/" rel="noopener nofollow" target="_blank">Onewayticketfamily.com </a> Other Resources Mentioned: <a href="https://www.facebook.com/groups/worldschoolers/" rel="noopener nofollow" target="_blank">Worldschoolers Facebook Group</a> VICKI'S FAVORITE READ Blog: <a href="https://ournextlife.com/" rel="noopener nofollow" target="_blank">Our Next Life</a>

How to Travel the World with Kids

As the FI/RE movement becomes more mainstream, explaining what the core values and beliefs are can be daunting.  In this episode, Wendy and Curtis explain six of the core tenets of the community.  Each tenet also embraces specific actions, mindsets, and strategies that flow from the core tenet.  THE SIX FI/RE TENETS 1. Rejection of Consumerism 2. Redefining Retirement  3. Tax Optimization  4. Increased Savings Rate 5. Community  6. Life-Optimization    In this episode, we discuss the first tenet,  REJECTION OF CONSUMERISM   Embracing frugality - but not at the expense of things that bring value or joy (not deprivation) Not keeping up with the Joneses Minimalism Materialism does not equate to happiness Elimination of Debt Reduction of Spending (cutting cable, reducing housing costs, buying used cars, cutting grocery/food  expenses)    YOUR WHY  One of the first steps to embracing this journey is to really understand WHY you want to obtain Financial Independence.  What is your reason?   For us - it is Legacy and creating a different future for our children.  We are doing that by saving more, spending less and increasing our income. 

As the FI/RE movement becomes more mainstream, explaining what the core values and beliefs are can be daunting.  In this episode, Wendy and Curtis explain six of the core tenets of the community.  Each tenet also embraces specific actions, mindsets, and strategies that flow from the core tenet.  THE SIX FI/RE TENETS 1. Rejection of Consumerism 2. Redefining Retirement  3. Tax Optimization  4. Increased Savings Rate 5. Community  6. Life-Optimization  In this episode, we discuss the first tenet,  REJECTION OF CONSUMERISM  <ul> <li>Embracing frugality - but not at the expense of things that bring value or joy (not deprivation)</li> <li>Not keeping up with the Joneses</li> <li>Minimalism</li> <li>Materialism does not equate to happiness</li> <li>Elimination of Debt</li> <li>Reduction of Spending (cutting cable, reducing housing costs, buying used cars, cutting grocery/food  expenses)</li> </ul> YOUR WHY  One of the first steps to embracing this journey is to really understand WHY you want to obtain Financial Independence.  What is your reason?   For us - it is Legacy and creating a different future for our children.  We are doing that by saving more, spending less and increasing our income.

BONUS Episode - The Tenets of FI/RE

Welcome to House of FI!  We are glad you're here.  Our mission is to help other families on the road to financial independence.  If you dream of retiring early but are unsure how to do that AND raise your family, you are in the right place.  Our guests will share their journey to financial independence, early retirement and debt freedom.  Our guest experts will share valuable information that will help you get to your financial goals sooner. Come on in!

Good guests with value add perspective from the hosts

Great material

Wonderful show with diversity in types of families making it to financial independence.

House of FI

Meet your co-host Wendy!  In this episode we learn how Wendy went from not knowing anything about money, and having made some pretty big, like "YUGE", financial mistakes to finding the Financial Independence community and building a 38% savings rate in just one year.   Like you, she is a busy parent, trying to do the best she can at working and raising her family - all the while trying to get her finances in order, so she can achieve her dream of financial independence. Our current favorite read:  Kids Money Habits – Amy Koit Please leave us a review to be entered into a weekly drawing to receive one copy of our current favorite read. Our website: houseoffi.com Our email: info@houseoffi.com

Meet your co-host Wendy!  In this episode we learn how Wendy went from not knowing anything about money, and having made some pretty big, like "YUGE", financial mistakes to finding the Financial Independence community and building a 38% savings rate in just one year.   Like you, she is a busy parent, trying to do the best she can at working and raising her family - all the while trying to get her finances in order, so she can achieve her dream of financial independence. Our current favorite read:  Kids Money Habits – Amy Koit Please leave us a review to be entered into a weekly drawing to receive one copy of our current favorite read. Our website: <a href="http://houseoffi.com" rel="nofollow" target="_blank">houseoffi.com</a> Our email: info@houseoffi.com

Episode 3 - Money Mistakes and Finding FI in Your Forties 

It’s not every day you get to talk to one of the few people that supports so many of the great personal finance podcasts that we all gain insight from each week.  Steve Stewart is a podcast editor, hater of debt, believer and a family man! His story spans from being burdened by debt, to massively shifting his net worth to more than a million dollars, with over $500,000 in liquid assets and a paid off home. Today he shares his story with our House of FI family, and we couldn’t be happier.   Money Story   Steve doesn’t recall any significant family lessons surrounding money when he was a child.  However, he does remember always being relatively good with money. By the time he married his now wife at 33 years old, they were what he calls “average Americans”. They made money, they spent money and they paid on debt as they drifted along.   Marriage and Finances   The dreaded long commute gets such a bad wrap, but for many of us, it was the long commute that introduced us to either Dave Ramsey and/or the world of podcasting.  In Steve’s case, traveling around for his day job led him to Dave - and things were not “love at first sight”.   While he disagreed with Ramsey at first, Steve soon started to realize that he and his wife weren’t actually doing as well as he thought they were.  With a young daughter and wife he began making financial changes, but still didn’t have a light bulb moment until much later.   One example of sub-par financial decision making was in 2006 when Steve and his wife, though he listened to Dave Ramsey preach about the negatives of debt, financed a new car.   Steve felt an immediate, dreadful sense of buyer’s remorse as soon as he drove out of the dealership lot.  It was that light bulb moment that he decided to get serious about managing his money. To right this wrong, and break the financial cycle, Steve and his wife proceeded to pay off the car in full by the end of 2007.     Finding a Calling   Much like many of us in the personal finance space, the power and freedom you feel once you gain control of your money led Steve to want to help and teach others.  Long before he became a podcast editor, Steve started his own podcast. Money Plan SOS was a side project that grew out of Steve’s Financial Coaching side business.     At first, he freely helped others.  But it was his always helpful approach and a stroke of luck that led to the formation of his podcast editing business. During his attendance of FinCon in 2015, Steve overheard Paula Pant - now owner of the Afford Anything Podcast -  saying that she wanted to try her voice (hand) at podcasting. Steve offered to help. It was that podcast that opened the door to a never-ending source of referral traffic for Steve.   Today he is the podcast editor for ChooseFI, Afford Anything and many others.  In fact, within 6 months of launching that first edited podcast, Steve was so busy that he had to retire everything else!     Preparing the Next Generation   As a family man and a knowledgeable personal finance expert, I was interested in knowing how Steve decided to pass his financial knowledge and his entrepreneurial spirit to his now 18-year-old daughter.     While she has not started a podcast, nor learned to edit podcasts like her dad, Steve’s daughter does have a cool YouTube channel!  There she showcases her talent for drawing in a cool program called SAI. Check out her video here:    Steve On The Final Questions:   Money Lesson:   Listening to Dave Ramsey - “you make too much money to be this broke” - hit him to his core.   Life Hack:   Put everything in google calendar, tasks, podcasts, dates, birthdays anniversary, travel plan, painting the basement.   Favorite or Current Read:   On Writing by Stephen King   Dr. Thomas Stanley the Millionaire next door  - reads every year.   You can find Steve primarily on twitter or on his website, Steve Stewart, or his twitter handle by the same name.

It’s not every day you get to talk to one of the few people that supports so many of the great personal finance podcasts that we all gain insight from each week.  Steve Stewart is a podcast editor, hater of debt, believer and a family man! His story spans from being burdened by debt, to massively shifting his net worth to more than a million dollars, with over $500,000 in liquid assets and a paid off home. Today he shares his story with our House of FI family, and we couldn’t be happier. Money Story Steve doesn’t recall any significant family lessons surrounding money when he was a child.  However, he does remember always being relatively good with money. By the time he married his now wife at 33 years old, they were what he calls “average Americans”. They made money, they spent money and they paid on debt as they drifted along. Marriage and Finances The dreaded long commute gets such a bad wrap, but for many of us, it was the long commute that introduced us to either Dave Ramsey and/or the world of podcasting.  In Steve’s case, traveling around for his day job led him to Dave - and things were not “love at first sight”. While he disagreed with Ramsey at first, Steve soon started to realize that he and his wife weren’t actually doing as well as he thought they were.  With a young daughter and wife he began making financial changes, but still didn’t have a light bulb moment until much later. One example of sub-par financial decision making was in 2006 when Steve and his wife, though he listened to Dave Ramsey preach about the negatives of debt, financed a new car. Steve felt an immediate, dreadful sense of buyer’s remorse as soon as he drove out of the dealership lot.  It was that light bulb moment that he decided to get serious about managing his money. To right this wrong, and break the financial cycle, Steve and his wife proceeded to pay off the car in full by the end of 2007.   Finding a Calling Much like many of us in the personal finance space, the power and freedom you feel once you gain control of your money led Steve to want to help and teach others.  Long before he became a podcast editor, Steve started his own podcast. <a href="https://moneyplansos.com/" rel="noreferrer noopener nofollow" target="_blank">Money Plan SOS</a> was a side project that grew out of Steve’s Financial Coaching side business.   At first, he freely helped others.  But it was his always helpful approach and a stroke of luck that led to the formation of his podcast editing business. During his attendance of FinCon in 2015, Steve overheard Paula Pant - now owner of the Afford Anything Podcast -  saying that she wanted to try her voice (hand) at podcasting. Steve offered to help. It was that podcast that opened the door to a never-ending source of referral traffic for Steve. Today he is the podcast editor for ChooseFI, Afford Anything and many others.  In fact, within 6 months of launching that first edited podcast, Steve was so busy that he had to retire everything else!   Preparing the Next Generation As a family man and a knowledgeable personal finance expert, I was interested in knowing how Steve decided to pass his financial knowledge and his entrepreneurial spirit to his now 18-year-old daughter.   While she has not started a podcast, nor learned to edit podcasts like her dad, Steve’s daughter does have a cool YouTube channel!  There she showcases her talent for drawing in a cool program called SAI. Check out her video here: Steve On The Final Questions: Money Lesson: Listening to Dave Ramsey - “you make too much money to be this broke” - hit him to his core. Life Hack: Put everything in google calendar, tasks, podcasts, dates, birthdays anniversary, travel plan, painting the basement. Favorite or Current Read: On Writing by Stephen King Dr. Thomas Stanley the Millionaire next door  - reads every year. You can find Steve primarily on twitter or on his website, <a href="https://stevestewart.me/" rel="nofollow" target="_blank">Steve Stewart,</a> or his twitter handle by the same name.

Episode 30: Frustrated and Feeling Broke, to a Million in Net Worth 

In this Bonus FinCon Friday episode, Wendy sits down with Dustin Heiner from the MasterPassiveIncome.com.  Dustin reveals his real estate investing business and rental property strategies that he used to quit his job at the age of 37. With passive income and monthly cash flow, Dustin is now successfully unemployed and is financially independent having enough money, time, and control to live the life he wants. Dustin is just a normal person who found the secret to support his family, travels all over the world, and lives in Financial Freedom with the income his real estate rental business provides. The systems Dustin has created allows him to travel the world, including a 6-week vacation in Japan, as well as 6-week vacation all throughout Europe, road trips around the United States.  He wants others to know that they can quit their jobs, retire early, and live the dream life with passive income and rental property investing too! Dustin teaches his business as well and interviews other successful real estate investors on his at masterpassiveincom.com and a podcast of the same name.  Dustin shares the money lessons he is teaching his kids, starting with teaching them to save 50% of their "income!"  If you want to check out Dustin's coaching programs, you can find him at masterpassiveincome.com or his podcast, of the same name on iTunes at https://itunes.apple.com/us/podcast/master-passive-income-real-estate-investing-rental/id1374007222?mt=2. 

In this Bonus FinCon Friday episode, Wendy sits down with Dustin Heiner from the <a href="http://MasterPassiveIncome.com" rel="nofollow" target="_blank">MasterPassiveIncome.com</a>.  Dustin reveals his real estate investing business and rental property strategies that he used to quit his job at the age of 37. With passive income and monthly cash flow, Dustin is now successfully unemployed and is financially independent having enough money, time, and control to live the life he wants. Dustin is just a normal person who found the secret to support his family, travels all over the world, and lives in Financial Freedom with the income his real estate rental business provides. The systems Dustin has created allows him to travel the world, including a 6-week vacation in Japan, as well as 6-week vacation all throughout Europe, road trips around the United States.  He wants others to know that they can quit their jobs, retire early, and live the dream life with passive income and rental property investing too! Dustin teaches his business as well and interviews other successful real estate investors on his at <a href="http://masterpassiveincom.com" rel="nofollow" target="_blank">masterpassiveincom.com</a> and a podcast of the same name.  Dustin shares the money lessons he is teaching his kids, starting with teaching them to save 50% of their "income!"  If you want to check out Dustin's coaching programs, you can find him at <a href="http://masterpassiveincome.com" rel="nofollow" target="_blank">masterpassiveincome.com</a> or his podcast, of the same name on iTunes at <a href="https://itunes.apple.com/us/podcast/master-passive-income-real-estate-investing-rental/id1374007222?mt=2" rel="nofollow" target="_blank">https://itunes.apple.com/us/podcast/master-passive-income-real-estate-investing-rental/id1374007222?mt=2</a>.

Episode 24 Bonus  - Retiring at 37 With Passive Real Estate Income

As a new immigrant to America, Mark Perry - who will be the first to say it, was clueless about money.  He describes coming to the states from South Africa with $200 in his pocket, the most money he ever had in his life, and blowing it all quite quickly, on hockey skates, winter jacket and a carton of cigarettes. MARK'S EARLY JOURNEY  He was very fortunate that he had been able to secure a scholarship that paid for the bulk of his education and so he started off on the right foot in that area.  Unlike so many students, he later graduated college with no student loan debt.  As his life progressed, he was married for a short time, then divorced but later, through some match-making and lucky coincidences he found and married his wife.  Together they have four children and reside in San Diego.   THE FIRST FINANCIAL SPARK Mark recalls that there were several "moments" that set him on his current financial path.  Shortly after his divorce, and still very young, he was stuck in his apartment, very sick.  This was during the time before remotes.  The T.V. was stuck on PBS and he was forced to watch a show on finances by David Chilton, the Wealthy Barber.  Mark says the information ignited something in him and he shortly thereafter met with a financial advisor.   Though he regrets the investment vehicle he was sold, a life insurance policy, it did start him on the path to regularly saving for his retirement.  THE BEST HOUSEHACK EVER Fast forward several years later and Mark had remarried and he and his wife were on fairly solid footing, but were still not optimizing their retirement savings.  The opportunity arose for Mark to pastor a church in San Diego.  During the course of negotiating the position, Mark was able to secure housing as part of his compensation.  For the past 17 years, Mark has been able to live in San Diego, on a pator's salary, rent free.  FINANCIAL SUPER-POWERS: SAVINGS RATE AND COMPOUND INTEREST  What Mark's story shows is the immense power of savings rate combined with compound interest.  In 10 years, saving a minimal amount, Mark was able to save $25,000.00.  By increasing his savings rate to between 40-50%, in the next 20 years, he was able to accumulate $800,000.00 in retirement accounts.  What this means for Mark and his family is that he is now LEANFI.  LEAN FI equates to 20 times your annual living expenses.  In this case.... 20 x $40,000 = $800,000.00  THE NEXT PHASE OF INVESTING: REAL ESTATE Mark is now branching out into real estate investing.  He has opened a Roth IRA that allows him to purchase real estate through his Roth IRA.  He now owns two investment properties, he owns outright in the Roth.  One was purchased for $20,000 (including repairs) and the other $17,000 (with repairs) - together they are cash-flowing $750 a month, which is incredible!   MARK ON THE FINAL QUESTIONS Mark's one lesson from childhood that he has carried over is to save something!  It doesn't matter how much, just begin with something.  The two lessons he would like to pass on to his children are to increase your savings rate as much as possible and the incredible power of compound interest.  MARK'S FAVORITE READ The Wealthy Barber, by David Chilton  WHERE YOU CAN FIND MARK On Facebook, C.Mark Perry  or pastorfi.com 

As a new immigrant to America, Mark Perry - who will be the first to say it, was clueless about money.  He describes coming to the states from South Africa with $200 in his pocket, the most money he ever had in his life, and blowing it all quite quickly, on hockey skates, winter jacket and a carton of cigarettes. MARK'S EARLY JOURNEY  He was very fortunate that he had been able to secure a scholarship that paid for the bulk of his education and so he started off on the right foot in that area.  Unlike so many students, he later graduated college with no student loan debt.  As his life progressed, he was married for a short time, then divorced but later, through some match-making and lucky coincidences he found and married his wife.  Together they have four children and reside in San Diego.   THE FIRST FINANCIAL SPARK Mark recalls that there were several "moments" that set him on his current financial path.  Shortly after his divorce, and still very young, he was stuck in his apartment, very sick.  This was during the time before remotes.  The T.V. was stuck on PBS and he was forced to watch a show on finances by David Chilton, the Wealthy Barber.  Mark says the information ignited something in him and he shortly thereafter met with a financial advisor.   Though he regrets the investment vehicle he was sold, a life insurance policy, it did start him on the path to regularly saving for his retirement.  THE BEST HOUSEHACK EVER Fast forward several years later and Mark had remarried and he and his wife were on fairly solid footing, but were still not optimizing their retirement savings.  The opportunity arose for Mark to pastor a church in San Diego.  During the course of negotiating the position, Mark was able to secure housing as part of his compensation.  For the past 17 years, Mark has been able to live in San Diego, on a pator's salary, rent free.  FINANCIAL SUPER-POWERS: SAVINGS RATE AND COMPOUND INTEREST  What Mark's story shows is the immense power of savings rate combined with compound interest.  In 10 years, saving a minimal amount, Mark was able to save $25,000.00.  By increasing his savings rate to between 40-50%, in the next 20 years, he was able to accumulate $800,000.00 in retirement accounts.  What this means for Mark and his family is that he is now LEANFI.  LEAN FI equates to 20 times your annual living expenses.  In this case.... 20 x $40,000 = $800,000.00  THE NEXT PHASE OF INVESTING: REAL ESTATE Mark is now branching out into real estate investing.  He has opened a Roth IRA that allows him to purchase real estate through his Roth IRA.  He now owns two investment properties, he owns outright in the Roth.  One was purchased for $20,000 (including repairs) and the other $17,000 (with repairs) - together they are cash-flowing $750 a month, which is incredible!   MARK ON THE FINAL QUESTIONS Mark's one lesson from childhood that he has carried over is to save something!  It doesn't matter how much, just begin with something.  The two lessons he would like to pass on to his children are to increase your savings rate as much as possible and the incredible power of compound interest.  MARK'S FAVORITE READ The Wealthy Barber, by David Chilton  WHERE YOU CAN FIND MARK On Facebook, C.Mark Perry  or <a href="https://www.pastorfi.com/" rel="noopener nofollow" target="_blank">pastorfi.com</a>

The Power of Savings Rate and Compound Interest - Reduce Your Retirement Timeline by 20 Years

Naseema McElroy

Welcome to our house! We are glad you are here.  Today we are chatting with Naseema McElroy of Financially Intentional.  Naseema is a busy single mom as well as labor and delivery nurse - she was once drowning in debt but decided to take control, change her mindset and turn things around.  By doing so she was able to eliminate almost one million dollars of debt in under three years. Ah-mazing! Her story is incredibly inspiring and we know you will learn some invaluable insight from her. Come on in! If you are interested in joining Naseema's live training, you can do that here.  On the show you may have heard us mention several other blogs and/or podcasts, they can be found here:  daveramsey.com  chooseFI.com (with Brad and Jonathan) journeytolaunch.com (by Jamila Souffrant)  Our current favorite read is:  Kids Money Habits, but Amy Koit  If you would like the opportunity to win Amy's book, simply leave us a review.  For every five reviews we will pick a listener to receive a copy.  Don't forget to email us with your screen name to let us know you have left us a review.  Thank you for joining us! We'll see you here at our house, next week! 

Welcome to our house! We are glad you are here.  Today we are chatting with Naseema McElroy of Financially Intentional.  Naseema is a busy single mom as well as labor and delivery nurse - she was once drowning in debt but decided to take control, change her mindset and turn things around.  By doing so she was able to eliminate almost one million dollars of debt in under three years. Ah-mazing! Her story is incredibly inspiring and we know you will learn some invaluable insight from her. Come on in! If you are interested in joining Naseema's live training, you can do that <a href="financiallyintentional.com/live" rel="noopener nofollow" target="_blank">here.</a> On the show you may have heard us mention several other blogs and/or podcasts, they can be found here:  <a href="http://daveramsey.com" rel="nofollow" target="_blank">daveramsey.com</a> <a href="http://chooseFI.com" rel="nofollow" target="_blank">chooseFI.com</a> (with Brad and Jonathan) <a href="http://journeytolaunch.com" rel="nofollow" target="_blank">journeytolaunch.com</a> (by Jamila Souffrant)  Our current favorite read is:  Kids Money Habits, but Amy Koit  If you would like the opportunity to win Amy's book, simply leave us a review.  For every five reviews we will pick a listener to receive a copy.  Don't forget to email us with your screen name to let us know you have left us a review.  Thank you for joining us! We'll see you here at our house, next week!

Episode 4 - Naseema McElroy - Financially Intentional

Today’s guests Tim and Amy Rutherford - currently live a life that embraces travel, a healthy lifestyle and living with purpose.  They host a successful YouTube Channel that follows their journey across the globe.  And they are doing it all as early retirees, in their 40's! THEIR MONEY STORY This wasn’t always their life... In 2014 while traveling - they had an awakening - a realization they were spending their money mindlessly and if they could stop spending so much money - they could realize their dream of retiring early and traveling more.   When they took a really hard look at their spending they found they were wasting over $115,000.00  a year with not much to show for it.  So, they took action.  They reigned in their spending significantly - ramped up their savings...and the result was that Both Tim and Amy were able to retire in their forties!   We are so excited to chat with them today and have them share some of their adventures - but also share with our House of FI Families - some of the actionable ways to get to Financial Independence faster! KEEPING THEIR BUDGET IN CHECK Amy and Tim have become super-savers and one of the best ways they shave money off of their expenses is to drastically cut their food budget.  Tim's tip:  He uses the FLIPP APP This APP is a repository for the grocery ads so you know what is on sale.   The next thing Tim and Amy do is to "shop what's on sale."  They tailor their budget and weekly menus to what is on sale.  From there Amy suggests cooking from home and from scratch as much as possible.   She also suggests subbing in ingredients based upon what is on sale in your recipes.  For example, if a recipe calls for broccoli, but asparagus is on sale - use asparagus instead.  TRAVEL HACKING Tim and Amy host a popular YouTube Channel, GoWithLess. There, they chronical their journeys and the steps they have taken to get to early retirement.  But also, they share their travel tips.  One of the ways Tim and Amy are able to travel so much is that they travel hack, using air miles and hotel/travel miles.  One of the other cool things they are known for is that they use house-sitting and/or pet sitting as a way to minimize their lodging expenses when they travel.   Amy suggests if house sitting or pet sitting is something you are interested in, to start sitting in your area first to build up good reviews and then try out of state and/or country jobs.  The site she uses to find sitting jobs is Trusted House Sitters.  Tim and Amy have a ton of great travel videos on their channel. Two of our favorite videos are a video on packing - Curt and I both need some serious help in this department - and this video has some great tips on packing light.  The other documents a recent trip they took to try out a Dentist in Mexico.  TIM AND AMY ON THE FINAL QUESTIONS Favorite financial lesson, growing up:  Amy shared the lesson she learned was to treasure the experiences. It doesn't take money to build memories.  Tim's favorite life hack is to live as much of their home life as possible when you travel.  For instance, cooking in, instead of eating out.  WHERE CAN YOU FIND TIM AND AMY IF YOU WANT TO LEARN MORE ABOUT THEIR JOURNEY..... THEIR YOUTUBE CHANNEL - GO WITH LESS

Today’s guests Tim and Amy Rutherford - currently live a life that embraces travel, a healthy lifestyle and living with purpose.  They host a successful YouTube Channel that follows their journey across the globe.  And they are doing it all as early retirees, in their 40's! THEIR MONEY STORY This wasn’t always their life... In 2014 while traveling - they had an awakening - a realization they were spending their money mindlessly and if they could stop spending so much money - they could realize their dream of retiring early and traveling more.   When they took a really hard look at their spending they found they were wasting over $115,000.00  a year with not much to show for it.  So, they took action.  They reigned in their spending significantly - ramped up their savings...and the result was that Both Tim and Amy were able to retire in their forties!   We are so excited to chat with them today and have them share some of their adventures - but also share with our House of FI Families - some of the actionable ways to get to Financial Independence faster! KEEPING THEIR BUDGET IN CHECK Amy and Tim have become super-savers and one of the best ways they shave money off of their expenses is to drastically cut their food budget.  Tim's tip:  He uses the FLIPP APP This APP is a repository for the grocery ads so you know what is on sale.   The next thing Tim and Amy do is to "shop what's on sale."  They tailor their budget and weekly menus to what is on sale.  From there Amy suggests cooking from home and from scratch as much as possible.   She also suggests subbing in ingredients based upon what is on sale in your recipes.  For example, if a recipe calls for broccoli, but asparagus is on sale - use asparagus instead.  TRAVEL HACKING Tim and Amy host a popular YouTube Channel, GoWithLess. There, they chronical their journeys and the steps they have taken to get to early retirement.  But also, they share their travel tips.  One of the ways Tim and Amy are able to travel so much is that they travel hack, using air miles and hotel/travel miles.  One of the other cool things they are known for is that they use house-sitting and/or pet sitting as a way to minimize their lodging expenses when they travel.   Amy suggests if house sitting or pet sitting is something you are interested in, to start sitting in your area first to build up good reviews and then try out of state and/or country jobs.  The site she uses to find sitting jobs is <a href="https://www.trustedhousesitters.com/us/" rel="noopener nofollow" target="_blank">Trusted House Sitters</a>.  Tim and Amy have a ton of great travel videos on their channel. Two of our favorite videos are a video on packing - Curt and I both need some serious help in this department - and this video has some great tips on packing light.  The other documents a recent trip they took to try out a Dentist in Mexico.  TIM AND AMY ON THE FINAL QUESTIONS Favorite financial lesson, growing up:  Amy shared the lesson she learned was to treasure the experiences. It doesn't take money to build memories.  Tim's favorite life hack is to live as much of their home life as possible when you travel.  For instance, cooking in, instead of eating out.  WHERE CAN YOU FIND TIM AND AMY IF YOU WANT TO LEARN MORE ABOUT THEIR JOURNEY..... THEIR YOUTUBE CHANNEL - GO WITH LESS

Retired by 46 and Traveling the World

Eric Patrick

What Can Hip Hop Teach Us About Money? If you take the time to listen to the lyrics, you can learn about real estate, property appreciation, interest growth, investing and much more from modern hip-hop music.  While I always take note of these nuggets of info, I never had the idea to combine hip-hop with money lessons. It was Eric Patrick that had that brilliant idea, and I have to say kudos to him, because he does a great job combining the two areas!     Side Hustling to Financial Independence    Dr. Eric Patrick is a practicing pharmacist by day, but is also the Founder and Chief Investment Educator of Black Market Exchange, LLC.  He is also the Founder of Doc Designs - a social media marketing company that helps to grow social followings for brands, and boasts a 5 figure annual income.  Erik loves to use hip-hop and urban media to make investing fun and easy to understand.   Dr. Eric started The BMEX in 2014 after receiving investment questions from many of his friends and family members.     “I knew that if I could link a rapper like Future to explanations on how to dominate the market, but still provide professional and valuable content, people would ride the wave to financial success.”   Through his educational site, BMEX, he covers everything from basic financial education like “what is a stock?” to expanding on the definition of REITS.   Eric does this through the use of his funny Youtube videos, but he also blogs about trendy investing apps, how to mix travel with investing (financial pleasure), and trends in the market that even the great Warren Buffett would take notice of. He has written for Acorns, BankMobile, Blavity, and Magnify Money.    Eric’s Money Philosophy   Eric confidently states that money is a tool, and he is here to show you how to use it to its full capacity.  But his relationship with money wasn’t always so great. After attending Howard University for Pharmacy School, he was buried under credit card, and student loan debt.     We all know that college is expensive, but pharmacy is one of the most expensive programs to pursue in the nation. Eric has made it a goal to keep tackling his student loan debt, but not at the expense of his investing strategy.   Eric loves using the snowball method for paying off debt.  His debt has grown, after he gave in to pressures to buy a home soon after college. However, he has plans to grow his income through side hustles, which will help with his debt pay off journey.   Find out more about the Snow Ball Method by reading this book:     Growing Up - Money Story   Unlike many of our past guests, Eric’s parents work in the financial industry - both being bankers.  He was able to learn about interest from his dad, and about balancing a checkbook from his mom. He had to learn about investing and about other areas of money through curiosity and self-teaching.   He continues learning about money now that he has a family of his own!   Money and Family   Eric has always tried to make money in unique ways.  When he was in college at  Howard University, he used to sell lunch coupons in the cafeteria!     As a couple, his wife is the money manager at home and he is the offensive player - going out and making money moves. Every quarter they come together and adjust their spending, but they do quick check-ins as needed.   In terms of their two little girls, saving for them has become a big household goal as they try to teach their kids about saving money.     One thing Eric does for the girls every year is the 52-week challenge.  Starting at week one and increasing for 52 weeks, you transfer a dollar amount that matches the week number to a savings account.  He counts up to 52 for one child, and down from 52 for the other! This makes it easier on the wallet.  Week one you would send $1. Week 30 $30, week 52 $52. Essentially, he is sending a combination of $53 every week into two accounts - one for each girl (around $1400 each).     All About Pharmacy Careers   Dr. Eric Patrick lets us know a little more about pharmacy as a career path!  A pharmacy degree is a doctoral degree, which means that when you complete the training, you are a doctor!  Pharmacy school requires immense amounts of memorization - as you are learning drug classes, interactions, side effects and systems of the body.  You have to be able to learn at a quick pace, and retain all of the knowledge.   Once completed, you can expect to make a starting salary of $85k - 105k depending on the area of pharmacy you work in, and your location within the United States.   Eric’s goal is not to tread water with a “decent” salary in a middle-class lifestyle - keeping [only] his nose above water.  He wants to lives very comfortably, with both his nose and mouth above water.      Listen to our episode where he explains more about this concept.    Money Prescriptions from Dr. Eric    Pay tithe each and every month - you have the ability - the average person has hundreds of dollars in “change” per month - seeping from their budget. Adjust your taxes so that you have more money for everything else - not just a lump sum at tax time. Be committed - you don’t have to be perfect you just have to be committed - like his 52-week rule for his kids.  Once he adds a few weeks to the “chain” of payments, he becomes committed to “not breaking the chain!” Don’t break the chain!  Stay focused and don’t stop! Most of his followers are actually women. Through working with other women he has learned that “Women tribes are powerful” Make more money - if three different people ask him three times about a topic, he finds a way to sell it.  (Can we drop one of Clue’s Bombs?)       Eric Patrick on the final questions:   Money Lesson:   Money is a tool, use it as such and ask yourself, what can it allow me to do.     Reading Right Now:   Ask, by Ryan Levesque - uses surveys to affect copy and content creation so that you can make something truly valuable. Profit First, By Mike Michalowicz  The best way for people to find you: On his site, www.thebmex.com    Listen to our previous episode!   Stay tuned for Fin Con Fridays!  Wendy had the awesome opportunity to attend Fin Con in September.  In addition to learning a whole bunch about this industry, she was able to talk to several popular bloggers and podcasters.  On Friday, we will release the first of five live recordings from the floor of Fin Con.  These are fun and unedited amidst the hustle and bustle of 5000 other money nerds.  We hope you enjoy them. 

What Can Hip Hop Teach Us About Money? If you take the time to listen to the lyrics, you can learn about real estate, property appreciation, interest growth, investing and much more from modern hip-hop music.  While I always take note of these nuggets of info, I never had the idea to combine hip-hop with money lessons. It was Eric Patrick that had that brilliant idea, and I have to say kudos to him, because he does a great job combining the two areas!   Side Hustling to Financial Independence Dr. Eric Patrick is a practicing pharmacist by day, but is also the Founder and Chief Investment Educator of Black Market Exchange, LLC.  He is also the Founder of Doc Designs - a social media marketing company that helps to grow social followings for brands, and boasts a 5 figure annual income.  Erik loves to use hip-hop and urban media to make investing fun and easy to understand. Dr. Eric started The BMEX in 2014 after receiving investment questions from many of his friends and family members.   “I knew that if I could link a rapper like Future to explanations on how to dominate the market, but still provide professional and valuable content, people would ride the wave to financial success.” Through his educational site, BMEX, he covers everything from basic financial education like “what is a stock?” to expanding on the definition of REITS. Eric does this through the use of his funny Youtube videos, but he also blogs about trendy investing apps, how to mix travel with investing (financial pleasure), and trends in the market that even the great Warren Buffett would take notice of. He has written for Acorns, BankMobile, Blavity, and Magnify Money.  Eric’s Money Philosophy Eric confidently states that money is a tool, and he is here to show you how to use it to its full capacity.  But his relationship with money wasn’t always so great. After attending Howard University for Pharmacy School, he was buried under credit card, and student loan debt.   We all know that college is expensive, but pharmacy is one of the most expensive programs to pursue in the nation. Eric has made it a goal to keep tackling his student loan debt, but not at the expense of his investing strategy. Eric loves using the snowball method for paying off debt.  His debt has grown, after he gave in to pressures to buy a home soon after college. However, he has plans to grow his income through side hustles, which will help with his debt pay off journey. Find out more about the Snow Ball Method by reading this book:  <a href="https://www.amazon.com/Total-Money-Makeover-Classic-Financial/dp/1595555277/ref=as_li_ss_il?ie=UTF8&amp;qid=1544326339&amp;sr=8-1&amp;keywords=total+money+makeover&amp;linkCode=li2&amp;tag=houseoffi-20&amp;linkId=a7b9940cafdb4714b429d819be45b381&amp;language=en_US" rel="noopener nofollow" target="_blank"></a> Growing Up - Money Story Unlike many of our past guests, Eric’s parents work in the financial industry - both being bankers.  He was able to learn about interest from his dad, and about balancing a checkbook from his mom. He had to learn about investing and about other areas of money through curiosity and self-teaching. He continues learning about money now that he has a family of his own! Money and Family Eric has always tried to make money in unique ways.  When he was in college at <a href="https://www2.howard.edu/" rel="noreferrer noopener nofollow" target="_blank"> Howard University</a>, he used to sell lunch coupons in the cafeteria!   As a couple, his wife is the money manager at home and he is the offensive player - going out and making money moves. Every quarter they come together and adjust their spending, but they do quick check-ins as needed. In terms of their two little girls, saving for them has become a big household goal as they try to teach their kids about saving money.   One thing Eric does for the girls every year is the 52-week challenge.  Starting at week one and increasing for 52 weeks, you transfer a dollar amount that matches the week number to a savings account.  He counts up to 52 for one child, and down from 52 for the other! This makes it easier on the wallet.  Week one you would send $1. Week 30 $30, week 52 $52. Essentially, he is sending a combination of $53 every week into two accounts - one for each girl (around $1400 each). All About Pharmacy Careers Dr. Eric Patrick lets us know a little more about pharmacy as a career path!  A pharmacy degree is a doctoral degree, which means that when you complete the training, you are a doctor!  Pharmacy school requires immense amounts of memorization - as you are learning drug classes, interactions, side effects and systems of the body.  You have to be able to learn at a quick pace, and retain all of the knowledge. Once completed, you can expect to make a starting salary of $85k - 105k depending on the area of pharmacy you work in, and your location within the United States. Eric’s goal is not to tread water with a “decent” salary in a middle-class lifestyle - keeping [only] his nose above water.  He wants to lives very comfortably, with both his nose and mouth above water.    Listen to our episode where he explains more about this concept.  Money Prescriptions from Dr. Eric <ol> <li>Pay tithe each and every month - you have the ability - the average person has hundreds of dollars in “change” per month - seeping from their budget.</li> <li>Adjust your taxes so that you have more money for everything else - not just a lump sum at tax time.</li> <li>Be committed - you don’t have to be perfect you just have to be committed - like his 52-week rule for his kids.  Once he adds a few weeks to the “chain” of payments, he becomes committed to “not breaking the chain!” Don’t break the chain!  Stay focused and don’t stop!</li> <li>Most of his followers are actually women. Through working with other women he has learned that “Women tribes are powerful”</li> <li>Make more money - if three different people ask him three times about a topic, he finds a way to sell it.  (Can we drop one of Clue’s Bombs?)   </li> </ol> Eric Patrick on the final questions: Money Lesson: Money is a tool, use it as such and ask yourself, what can it allow me to do.   Reading Right Now: Ask, by Ryan Levesque - uses surveys to affect copy and content creation so that you can make something truly valuable. Profit First, By Mike Michalowicz The best way for people to find you: On his site, <a href="http://www.thebmex.com" rel="nofollow" target="_blank">www.thebmex.com</a> Listen to our <a href="https://houseoffi.com/2018/12/05/episode-20-learn-hustle-grow/" rel="nofollow" target="_blank">previous episode</a>! Stay tuned for Fin Con Fridays!  Wendy had the awesome opportunity to attend Fin Con in September.  In addition to learning a whole bunch about this industry, she was able to talk to several popular bloggers and podcasters.  On Friday, we will release the first of five live recordings from the floor of Fin Con.  These are fun and unedited amidst the hustle and bustle of 5000 other money nerds.  We hope you enjoy them.

Episode 21  - Dr. Eric Patrick of the Black Market Exchange

Today's guest at the House of FI is Liz Thames, also known to most as Mrs. Frugalwoods. In this conversation we talk about frugality, sustainability, smart money moves for kids in college, and well as a moment of bonding for Curt and Liz over their mutual hatred of dirt.  LIZ GROWING UP Like so many of us, money was not discussed in Liz's home growing up.  Even so, she was able to learn from her parent's frugality. She grew to appreciate that something does not have to be new to experience both its utility and ability to bring you joy.  She admits that when she and her husband first began pursuing their dream of leaving the city and purchasing a home-stead they did not know much about finances beyond a savings account.  The first financial book she purchased was Personal Finance for Dummies.   A JOYFUL FRUGAL-FAIL Recently Liz, the despiser of dirt, purchased a $260 Roomba.  She explains the decision-making process for the purchase and how the purchase brings her joy. She also explains that she believes it is important to spend on the things that matter - while always asking if there is a long-term benefit.  She advises to always be mindful of the following:  1. knowing where you need to be in the long term 2. knowing what you need to do with your money to get there  3. calibrate all your purchases against that long-term goal   FINANCIAL INDEPENDENCE IS FOR EVERYONE One of the points Liz has made ongoing efforts to acknowledge is that she did not have some of the hurdles others may have had due to some of the privileges she enjoyed growing up. However, Liz also believes, that financial independence is for everyone.  You can review some of the case studies on her site where she offers advice to people of diverse backgrounds and circumstances to help them on the financial independence journey.  LIVING A LIFE OF ONGOING LEARNING  Liz and her husband purchased their homestead and decided to approach their life from a viewpoint of learning.  Since moving out into the country they have learned many new skills via building and discovering.  Wild fun things, like making maple syrup with maple sap found on their property.  She cautions - that DIY does not always mean less expensive both in time and dollars.  Another fun DIY project Liz's husband tackled was a "fizzy water" machine by attaching a tank to a soda-stream machine.  You can see how he did that  here.   LIZ ON THE FINAL QUESTIONS:   Liz's Life Hacks:  1. Her Roomba! Of course.  2. But also the Seltzer Water   LIZ'S FAVORITE READS 1. The Simple Path to Wealth - J.L. Collins 2. Becoming - Michelle Obama 3. Simplicity Parenting - Kim John Payne WHERE CAN YOU FIND LIZ:  Would you like to know more about Liz and the life she and her husband have created for themselves?  You can get her book, Meet the Frugalwoods.  She can also be found on the website-  frugalwoods.com As well as all social media under the same name as well. 

Today's guest at the House of FI is Liz Thames, also known to most as Mrs. Frugalwoods. In this conversation we talk about frugality, sustainability, smart money moves for kids in college, and well as a moment of bonding for Curt and Liz over their mutual hatred of dirt.  LIZ GROWING UP Like so many of us, money was not discussed in Liz's home growing up.  Even so, she was able to learn from her parent's frugality. She grew to appreciate that something does not have to be new to experience both its utility and ability to bring you joy.  She admits that when she and her husband first began pursuing their dream of leaving the city and purchasing a home-stead they did not know much about finances beyond a savings account.  The first financial book she purchased was Personal Finance for Dummies. A JOYFUL FRUGAL-FAIL Recently Liz, the despiser of dirt, purchased a $260 Roomba.  She explains the decision-making process for the purchase and how the purchase brings her joy. She also explains that she believes it is important to spend on the things that matter - while always asking if there is a long-term benefit.  She advises to always be mindful of the following:  1. knowing where you need to be in the long term 2. knowing what you need to do with your money to get there  3. calibrate all your purchases against that long-term goal FINANCIAL INDEPENDENCE IS FOR EVERYONE One of the points Liz has made ongoing efforts to acknowledge is that she did not have some of the hurdles others may have had due to some of the privileges she enjoyed growing up. However, Liz also believes, that financial independence is for everyone.  You can review some of the case studies on her site where she offers advice to people of diverse backgrounds and circumstances to help them on the financial independence journey.  LIVING A LIFE OF ONGOING LEARNING  Liz and her husband purchased their homestead and decided to approach their life from a viewpoint of learning.  Since moving out into the country they have learned many new skills via building and discovering.  Wild fun things, like making maple syrup with maple sap found on their property.  She cautions - that DIY does not always mean less expensive both in time and dollars.  Another fun DIY project Liz's husband tackled was a "fizzy water" machine by attaching a tank to a soda-stream machine.  You can see how he did that <a href="https://www.frugalwoods.com/2019/01/25/hacked-sodastream-seltzer-reload-and-other-december-2018-expenditures/" rel="nofollow" target="_blank"> here</a>.   LIZ ON THE FINAL QUESTIONS:   Liz's Life Hacks:  1. Her Roomba! Of course.  2. But also the Seltzer Water LIZ'S FAVORITE READS 1. The Simple Path to Wealth - J.L. Collins 2. Becoming - Michelle Obama 3. Simplicity Parenting - Kim John Payne WHERE CAN YOU FIND LIZ:  Would you like to know more about Liz and the life she and her husband have created for themselves?  You can get her book, Meet the Frugalwoods.  She can also be found on the website-  <a href="https://www.frugalwoods.com/" rel="nofollow" target="_blank">frugalwoods.com</a> As well as all social media under the same name as well.

Finding a Balance Between Frugality and Happiness

MONEY OBSTACLES One of the biggest barriers to beginning your Financial Independence journey is NOT MONEY! (Gasp)  Do you want to guess what it is.... It's your mindset.  It's buying into the broken tapes we play in our heads -  "I am not good with money." "I don't make enough." "But I live in a high cost of living area - there's no way I can afford to pay less for housing." "We owe SO MUCH - we will never be able to pay it all off."  Do any of those ring true for you? These beliefs can be overwhelming and lead to a feeling of hopelessness.  And guess what?  I believed a lot of those broken tapes for a long time too.  Until... Until we found the FIRE Community. (I like "community" much better than calling it a Movement - because that is really what this is - a community of people encouraging each other to reach their dreams.) But I digress... When we found out other people, normal people, with normal jobs, living in every city all over the county - were financially independent in their 30's and 40's - it was as if we had found the hidden Fountain of Youth.  It was that big of a discovery.  Did you have a similar moment? MONEY FOUNDATIONS If you can get past those old limiting believe and believe in what IS POSSIBLE - then you are ready to begin building your future. So, where are you in your FIRE journey?  We hear a lot of people talk about being in the "accumulation phase"  and that is WONDERFUL.  The accumulation phase is when you are saving for retirement.  But I would like to talk about the phase before that and that is what I am going to call the Foundations phase.  Before you can begin building a solid financial foundation, you have to have a proper foundation laid.  A solid financial foundation requires 4 things:  1. Debt Free (at a minimum - consumer debt free)  2. Earning More Than You Are Spending 3. Money Master Plan (A fortified budget)  4. Contingency Fund (for emergencies only) We offer a FREE 7-Step Money Foundations Course to help get you started.  You can sign up for it HERE.   LAYING YOUR MONEY FOUNDATIONS If you are deficient in 1, 2, or 4 - then the reality is YOU NEED CASH.  Curt and I would like to give you several ideas of how we have given our budget quick infusions of cash over the years.  In the past, we have used these methods to pay down debt, build up our contingency fund as well as save for big purchases. Now, we have not tried all of these, but we have used many of them (and continue to do so).  We would not list them here if we did not believe they were not a good way to put money in your pocket within a very short period of time.   We go over about fifteen ways to earn quick cash in the podcast, so if you want to hear all of them, click on the player above to hear them.  (And if there are some we have missed - let us know.  Send us a quick message on our voicemail line on the right.) 

MONEY OBSTACLES One of the biggest barriers to beginning your Financial Independence journey is NOT MONEY! (Gasp)  Do you want to guess what it is.... It's your mindset.  It's buying into the broken tapes we play in our heads -  "I am not good with money." "I don't make enough." "But I live in a high cost of living area - there's no way I can afford to pay less for housing." "We owe SO MUCH - we will never be able to pay it all off."  Do any of those ring true for you? These beliefs can be overwhelming and lead to a feeling of hopelessness.  And guess what?  I believed a lot of those broken tapes for a long time too.  Until... Until we found the FIRE Community. (I like "community" much better than calling it a Movement - because that is really what this is - a community of people encouraging each other to reach their dreams.) But I digress... When we found out other people, normal people, with normal jobs, living in every city all over the county - were financially independent in their 30's and 40's - it was as if we had found the hidden Fountain of Youth.  It was that big of a discovery.  Did you have a similar moment? MONEY FOUNDATIONS If you can get past those old limiting believe and believe in what IS POSSIBLE - then you are ready to begin building your future. So, where are you in your FIRE journey?  We hear a lot of people talk about being in the "accumulation phase"  and that is WONDERFUL.  The accumulation phase is when you are saving for retirement.  But I would like to talk about the phase before that and that is what I am going to call the Foundations phase.  Before you can begin building a solid financial foundation, you have to have a proper foundation laid.  A solid financial foundation requires 4 things:  1. Debt Free (at a minimum - consumer debt free)  2. Earning More Than You Are Spending 3. Money Master Plan (A fortified budget)  4. Contingency Fund (for emergencies only) We offer a FREE 7-Step Money Foundations Course to help get you started.  You can sign up for it <a href="https://houseoffi.com/money-foundations/" rel="nofollow" target="_blank">HERE</a>. LAYING YOUR MONEY FOUNDATIONS If you are deficient in 1, 2, or 4 - then the reality is YOU NEED CASH.  Curt and I would like to give you several ideas of how we have given our budget quick infusions of cash over the years.  In the past, we have used these methods to pay down debt, build up our contingency fund as well as save for big purchases. Now, we have not tried all of these, but we have used many of them (and continue to do so).  We would not list them here if we did not believe they were not a good way to put money in your pocket within a very short period of time.   We go over about fifteen ways to earn quick cash in the podcast, so if you want to hear all of them, click on the player above to hear them.  (And if there are some we have missed - let us know.  Send us a quick message on our voicemail line on the right.)

Wendy and Curtis Share 15 Ways to Make Quick Cash

House of FI, it’s time to get back to the basics of money management.  The first month of 2019 is behind us. We’ve set our personal and financial goals but the newness of the New Year has worn off, and now it’s time to renew our commitment to the changes we know will inspire huge wins for our families.    This is the reason we spoke to Dan Shaw in the previous episode, and it’s why we are speaking to Tess Wicks in this episode.  Tess Wicks is a personal finance coach and educator who breaks down the journey to financial independence into key action steps and makes the connection between our priorities, the things we acquire, and our life vision.  Tess has a vibrant online community, and she is also the host of the Wander Wealthy Podcast.  Tess aims to empower her clients to get smart about their money while still being able to spend it on the things that bring them joy.  In this episode, we touch on her money story, her views on the cost of education, entrepreneurship and the concept of the Anti-Budget.  Money Story  Who we are and why we end up doing the things we do as adults can often be traced back to early memories and experiences we had along the way.  Tess Wicks is no different.    Tess grew up with parents that owned a very successful business.  She was the fourth child, and because of her place in the birthline, Tess had the unique experience of growing up on the other side of their initial business struggles.  Before she was born, they lived in a tiny house in another part of town. By the time she came around, they’d seen business success, they achieved a more stable money position and they lived in a nicer home.  What we loved the most about Tess’ experience of their increased financial stability was that her parents often drove back to the smaller home and revisited the way things were along the path to their success.  Sometimes, in order to teach your kids where you are headed, you have to show them where you have been.  Charting Her Own Path!  Originally Tess was less than thrilled about following in the business ownership footsteps of her parents.  At first, she planned to be a forensic pathologist. However, when college was all said and done, Tess actually excelled in the area of Actuarial Science.    While working as a pension consultant - valuing the pension plans of various agencies - it became clear to her that her time in actuarial work was limited.  She needed something more and began to imagine a different future for herself.  She found a creative outlet in podcasting.    The corporate structure was repetitive, so while completing all of her data-driven work, Tess began listening to personal development podcasts.  At the time, the podcasts were all male owned, and because of that, there were very few female guests for their interviews. So, Tess and a friend, in an effort to elevate the female voice started their own podcast together.  Today Tess owns the Wander Wealthy company, where she helps young people take control of their money, and grow their investments.  Tess On The Cost Of College  College costs are front of mind for many parents. The subject of how to avoid college costs, and also whether Tess felt college was helpful now that she is an entrepreneur came up. In the end, Tess was pretty torn about whether college (all costs included) is actually worth the money.  Reasons Why Tess is Torn on The Need to Pursue College:   The rising cost of college is crushing its participants. Parents and families don’t always understand the implications of chasing the higher education dream. Most people are going to get a higher salary by attending school, but sometimes it doesn’t happen this way.   To determine the need for college, Tess suggests that families sit down and map out their goals. After writing down everything you want to achieve through college, break down the math to see how much the goal is really going to cost you.  First Steps of Financial Stability  List your goals - this ties your starting place to your ending place.  Emergency savings fund - Starting with a foundation of an emergency fund help ward off budget problems later.  Create your strategy next - for this you may need help, but the key is to create a strategy that fits your personal experience  Live a little - it is important to give yourself some buffer to breathe and live. If you can't reward yourself for doing such good financial planning, what are you doing it for?  Tess has an awesome new course called the Invested Plan, where she teaches you how to save and invest for the future - something that can be so daunting for many of us.  Tess on the Final Questions:  Money Lesson :  Work with people and hire professionals that can make your life easier. Tess' parents had very smart people on their team that they were able to invest in. This pays off early and easily.  Life Hack:  Pursuing a more minimal lifestyle with additional spending on the items that positively affect her lifestyle.  It’s good to be frugal and save money, but have an area of your life that you are able to spend in.  Be very specific about what you allow into your life and spend a little more for good quality items.  Book:  Breaking the Habit of Being Yourself by Joe Defenza    The Secrets of the Millionaire Mind  How to Find Tess:  Wanderwealthy.com where you can find free training on the site and a free investment training!

House of FI, it’s time to get back to the basics of money management.  The first month of 2019 is behind us. We’ve set our personal and financial goals but the newness of the New Year has worn off, and now it’s time to renew our commitment to the changes we know will inspire huge wins for our families.   This is the reason we spoke to Dan Shaw in the previous episode, and it’s why we are speaking to Tess Wicks in this episode.  Tess Wicks is a personal finance coach and educator who breaks down the journey to financial independence into key action steps and makes the connection between our priorities, the things we acquire, and our life vision.  Tess has a vibrant online community, and she is also the host of the Wander Wealthy Podcast. Tess aims to empower her clients to get smart about their money while still being able to spend it on the things that bring them joy. In this episode, we touch on her money story, her views on the cost of education, entrepreneurship and the concept of the Anti-Budget. Money Story Who we are and why we end up doing the things we do as adults can often be traced back to early memories and experiences we had along the way. Tess Wicks is no different.   Tess grew up with parents that owned a very successful business.  She was the fourth child, and because of her place in the birthline, Tess had the unique experience of growing up on the other side of their initial business struggles.  Before she was born, they lived in a tiny house in another part of town. By the time she came around, they’d seen business success, they achieved a more stable money position and they lived in a nicer home. What we loved the most about Tess’ experience of their increased financial stability was that her parents often drove back to the smaller home and revisited the way things were along the path to their success.  Sometimes, in order to teach your kids where you are headed, you have to show them where you have been. Charting Her Own Path! Originally Tess was less than thrilled about following in the business ownership footsteps of her parents.  At first, she planned to be a forensic pathologist. However, when college was all said and done, Tess actually excelled in the area of Actuarial Science.   While working as a pension consultant - valuing the pension plans of various agencies - it became clear to her that her time in actuarial work was limited.  She needed something more and began to imagine a different future for herself. She found a creative outlet in podcasting.   The corporate structure was repetitive, so while completing all of her data-driven work, Tess began listening to personal development podcasts.  At the time, the podcasts were all male owned, and because of that, there were very few female guests for their interviews. So, Tess and a friend, in an effort to elevate the female voice started their own podcast together. Today Tess owns the <a href="https://www.wanderwealthy.com/" rel="noreferrer noopener nofollow" target="_blank">Wander Wealthy company</a>, where she helps young people take control of their money, and grow their investments. Tess On The Cost Of College College costs are front of mind for many parents. The subject of how to avoid college costs, and also whether Tess felt college was helpful now that she is an entrepreneur came up. In the end, Tess was pretty torn about whether college (all costs included) is actually worth the money. Reasons Why Tess is Torn on The Need to Pursue College: <ol> <li>The rising cost of college is crushing its participants.</li> <li>Parents and families don’t always understand the implications of chasing the higher education dream.</li> <li>Most people are going to get a higher salary by attending school, but sometimes it doesn’t happen this way.</li> </ol> To determine the need for college, Tess suggests that families sit down and map out their goals. After writing down everything you want to achieve through college, break down the math to see how much the goal is really going to cost you. First Steps of Financial Stability List your goals - this ties your starting place to your ending place. Emergency savings fund - Starting with a foundation of an emergency fund help ward off budget problems later. Create your strategy next - for this you may need help, but the key is to create a strategy that fits your personal experience Live a little - it is important to give yourself some buffer to breathe and live. If you can't reward yourself for doing such good financial planning, what are you doing it for? Tess has an awesome new course called the Invested Plan, where she teaches you how to save and invest for the future - something that can be so daunting for many of us. Tess on the Final Questions: Money Lesson : Work with people and hire professionals that can make your life easier. Tess' parents had very smart people on their team that they were able to invest in. This pays off early and easily. Life Hack: Pursuing a more minimal lifestyle with additional spending on the items that positively affect her lifestyle. It’s good to be frugal and save money, but have an area of your life that you are able to spend in.  Be very specific about what you allow into your life and spend a little more for good quality items. Book: Breaking the Habit of Being Yourself by Joe Defenza   The Secrets of the Millionaire Mind How to Find Tess: <a href="http://Wanderwealthy.com" rel="nofollow" target="_blank">Wanderwealthy.com</a> where you can find free training on the site and a free investment training!

Episode 29: Casting a Vision for Your Financial Future

A quick search about Whitney Hansen will reveal that she is a millennial money coach, an adjunct professor and a content creator.  But today spoke with her about her upbringing, her experiences with money growing up, and how she turned those experiences into a thriving business and a flexible lifestyle.     Three things we discussed in today's interview:   How Whitney managed to pay off $30,000 of debt in 10 months - that’s 3,000 in payments a month!   What steps she took to buy her first home at 19 years old - but also, how she found the inner drive to do that!   And we are hoping to learn something we can replicate from the fact that she only paid $472 for her master's degree.   From Trauma to Winning   In her own words, Whitney openly describes the trauma she experienced while growing up. The trauma related to her mother's dependence on financial support was something Whitney witnessed first hand. This dependence allowed for verbal and physical abuse to thrive within their family. In the end, Whitney vowed to pursue her own independence by using the money she earned to access the life she knew she deserved.   What were some of the ways that she took back control?    Whitney refused to accept her environment, and she adopted a money mindset where she took control of her financial future She bought her first home in her teens - at 19 she took a leap and she participated in a first time home buyer program that allowed her to reach her home ownership dreams Whitney actively pursued money knowledge - Whitney listened to financial and personal development gurus on CDs in her car while traveling to and from her job as a nail tech.    Developing a Positive Mindset   Carol Dweck, is often cited for her work on the importance of developing a growth mindset. Whitney's story is a prime example of how developing a growth mindset, as opposed to a fixed mindset, allows us to push past our inhibitions and achieve our goals.   Statistically speaking, Whitney should have continued down a path of financial dependence instead of financial freedom. Her environment and her lack of a personal financial mentor would normally lead to a cycle of financial ruin.   But due to her growth mindset - something we can all learn to develop - Whitney was able to make incremental changes and stay focused on her goals until they were achieved. Instead of accepting preconceived limitations, she moved passed limiting beliefs to reach beyond the obvious path.   Whitney on the final questions:   Money Lesson:  Never finance a car! From first-hand experience, Whitney learned that cars can break down soon after you buy them. The worst part is that you still have to pay for something that doesn’t work if this happens!   Life Hacks: Whitney swears by using the Pomodoro technique to increase her productivity. To use this technique, you begin by setting a timer for a preset period of time - and working with focus during that period. She does this process 4 times a day, and reports that if you use it, you will be overly productive. Start with 25 minutes, and take a 5 minute break in between. Try to increase from there until you find your sweet spot.

A quick search about Whitney Hansen will reveal that she is a millennial money coach, an adjunct professor and a content creator.  But today spoke with her about her upbringing, her experiences with money growing up, and how she turned those experiences into a thriving business and a flexible lifestyle.   Three things we discussed in today's interview: How Whitney managed to pay off $30,000 of debt in 10 months - that’s 3,000 in payments a month! What steps she took to buy her first home at 19 years old - but also, how she found the inner drive to do that! And we are hoping to learn something we can replicate from the fact that she only paid $472 for her master's degree.   From Trauma to Winning In her own words, Whitney openly describes the trauma she experienced while growing up. The trauma related to her mother's dependence on financial support was something Whitney witnessed first hand. This dependence allowed for verbal and physical abuse to thrive within their family. In the end, Whitney vowed to pursue her own independence by using the money she earned to access the life she knew she deserved. What were some of the ways that she took back control? <ol> <li>Whitney refused to accept her environment, and she adopted a money mindset where she took control of her financial future</li> <li>She bought her first home in her teens - at 19 she took a leap and she participated in a first time home buyer program that allowed her to reach her home ownership dreams</li> <li>Whitney actively pursued money knowledge - Whitney listened to financial and personal development gurus on CDs in her car while traveling to and from her job as a nail tech.</li> </ol>   Developing a Positive Mindset Carol Dweck, is often cited for her work on the importance of developing a <a href="https://amzn.to/2s0ABL2" rel="nofollow" target="_blank">growth mindse</a><a href="https://amzn.to/2s0ABL2" rel="noreferrer noopener nofollow" target="_blank">t</a>. Whitney's story is a prime example of how developing a growth mindset, as opposed to a fixed mindset, allows us to push past our inhibitions and achieve our goals. Statistically speaking, Whitney should have continued down a path of financial dependence instead of financial freedom. Her environment and her lack of a personal financial mentor would normally lead to a cycle of financial ruin. But due to her growth mindset - something we can all learn to develop - Whitney was able to make incremental changes and stay focused on her goals until they were achieved. Instead of accepting preconceived limitations, she moved passed limiting beliefs to reach beyond the obvious path.   Whitney on the final questions: Money Lesson:  Never finance a car! From first-hand experience, Whitney learned that cars can break down soon after you buy them. The worst part is that you still have to pay for something that doesn’t work if this happens! Life Hacks: Whitney swears by using the <a href="https://amzn.to/2VlhOrb" rel="noreferrer noopener nofollow" target="_blank">Pomodoro technique</a> to increase her productivity. To use this technique, you begin by setting a timer for a preset period of time - and working with focus during that period. She does this process 4 times a day, and reports that if you use it, you will be overly productive. Start with 25 minutes, and take a 5 minute break in between. Try to increase from there until you find your sweet spot.

Episode 24 - Childhood Trauma and Making Smart Money Moves

The Scars of the Great Recession Many of those that graduated into the Great Recession of 2008 have been forever scarred, financially speaking.  Many of us experienced the pain of that era, but in case you avoided it, take a moment to consider what it must have felt like.  Think about the fear, anxiety and uneasiness that would come from facing a mountain of debt in one direction, and a jobless desert in the other. Who Is Kara Perez?  The first time I saw Kara Perez in action, she was supporting another person in figuring out a financial question in a Facebook group.   At the time I didn’t realize that she was the co-host of the Fairer Cents Podcast - a series based podcast that focuses on the sociological and economic aspects of money and how women on average are affected by these external systems. As I learned more about her, I realized that  Kara Perez is also founder of the financial education company Bravely. Through Bravely, Kara has created a community that gives self-identified women the financial tools needed to bridge the gaps between their dreams and their realities. So, a single woman without children - how does this tie into our mission as a Financial Independence Podcast for Families? Wendy and I thought a lot about this, and these are the reasons we were so interested in exploring Kara’s views on the show.  Kara Perez brings the Millennial perspective on money  - one that neither Wendy nor I can give.  Alright, yes, technically I am a Millennial. However, Kara is able to share a Millennial experience that I did not experience. Her fascinating money story includes graduating directly into the thick of the recession, being unable to find work for months, taking to side hustling, and eventually stepping out of a place of self pity and into a place of self affirmation. Her story is unmistakably inspiring. Kara has studied the dismal statistics that highlight the gap between gender and money.  House of FI Family, it’s so important to know the potential obstacles in your path before you are faced with them.  By knowing what others are facing in terms of gender inequality, you have the opportunity to avoid the same pitfalls.  We hope these concepts help you to prepare yourselves, or your daughters, wives and loved ones for potential obstacles. Kara has created tools to master money - something Wendy and I hope to do someday.  These tools can be helpful to some of you as you try to figure your financial situation out. By creating the tools Kara offers support to her followers as they navigate this money journey.    “We’re all for cheering each other on, but we want to go deeper and look behind those happy epithets at what really makes money such a complicated subject, especially for women.” -Bravely  Kara’s Money Story: A Millennial Perspective Kara (1 of 3 kids) revealed through her money story that she grew up a New England native.  Kara spent all of her younger years in a single parent household, supported by food stamps. When she finished college she was unemployable, given it was the start of the Great Recession.  Armed with an English degree, a desire to work and a ton of student loan debt, Kara tried her hardest to find a position.    Nothing salaried panned out, and Kara's resolve was tested as she often panicked under the weight of the stress, and the negative cycle of her scarcity mindset.  After reaching rock bottom, she realized she needed to create positive momentum in order to escape her negative money script.   So she got to work. She paid off $25,302 in student loan debt while never making more than $32,000 per year and only using gig economy jobs!  No full time salaried positions.  She HUSTLED! What is BravelyGo.Co? Men Lie, Women Lie, Numbers Don't -Jay Z  Bravely is a financial literacy pop up event company.  Bravely focuses on everything financial, with pop ups about debt repayment, buying homes, and everything in between.  According the the numbers women have lower income levels and retirement savings rates. Knowing this, we can adjust our paths, and begin a different relationship with money.   Bravely looks at our privilege, our privileges, our obstacles, and wage ceilings. It also aims to educate learners to move past these social constructs. The company is as powerful as it's owner.  It places an emphasis on creating agency within the individual while preparing them for potential financial pitfalls. Links in this episode: Bravely Financial Company Fairer Cents Podcast   Kara on the final questions:  Always save something - his grandfather taught her this as a young girl and she always followed his advice Currently, Kara is reading "Spinning Silver", Shout out to Uncle Jack!  The best way to contact Kara is through Instagram @webravelygo!  Also, you can find her through her website, bravelygo.co or email her at info@bravelygo.co. 

The Scars of the Great Recession Many of those that graduated into the Great Recession of 2008 have been forever <a href="https://www.marketwatch.com/story/the-great-recession-may-affect-this-lost-generation-for-years-to-come-2018-05-24" rel="noopener nofollow" target="_blank">scarred, financially speaking</a>.  Many of us experienced the pain of that era, but in case you avoided it, take a moment to consider what it must have felt like.  Think about the fear, anxiety and uneasiness that would come from facing a mountain of debt in one direction, and a jobless desert in the other. Who Is Kara Perez? The first time I saw Kara Perez in action, she was supporting another person in figuring out a financial question in a <a href="https://www.facebook.com/webravelygo/" rel="noopener nofollow" target="_blank">Facebook group</a>.   At the time I didn’t realize that she was the co-host of the <a href="https://thefairercents.com/" rel="noopener nofollow" target="_blank">Fairer Cents Podcast</a> - a series based podcast that focuses on the sociological and economic aspects of money and how women on average are affected by these external systems. As I learned more about her, I realized that  Kara Perez is also founder of the financial education company Bravely. Through Bravely, Kara has created a community that gives self-identified women the financial tools needed to bridge the gaps between their dreams and their realities. So, a single woman without children - how does this tie into our mission as a Financial Independence Podcast for Families? Wendy and I thought a lot about this, and these are the reasons we were so interested in exploring Kara’s views on the show. <ol> <li>Kara Perez brings the Millennial perspective on money  - one that neither Wendy nor I can give.  Alright, yes, technically I am a Millennial. However, Kara is able to share a Millennial experience that I did not experience. Her fascinating money story includes graduating directly into the thick of the recession, being unable to find work for months, taking to side hustling, and eventually stepping out of a place of self pity and into a place of self affirmation. Her story is unmistakably inspiring.</li> <li>Kara has studied the dismal statistics that highlight the gap between gender and money.  House of FI Family, it’s so important to know the potential obstacles in your path before you are faced with them.  By knowing what others are facing in terms of gender inequality, you have the opportunity to avoid the same pitfalls.  We hope these concepts help you to prepare yourselves, or your daughters, wives and loved ones for potential obstacles.</li> <li>Kara has created tools to master money - something Wendy and I hope to do someday.  These tools can be helpful to some of you as you try to figure your financial situation out. By creating the tools Kara offers support to her followers as they navigate this money journey.  </li> </ol> “We’re all for cheering each other on, but we want to go deeper and look behind those happy epithets at what really makes money such a complicated subject, especially for women.” -Bravely Kara’s Money Story: A Millennial Perspective Kara (1 of 3 kids) revealed through her <a href="https://thefinancialdiet.com/author/kara-perez/" rel="noopener nofollow" target="_blank">money story</a> that she grew up a New England native.  Kara spent all of her younger years in a single parent household, supported by food stamps. When she finished college she was unemployable, given it was the start of the Great Recession.  Armed with an English degree, a desire to work and a ton of student loan debt, Kara tried her hardest to find a position.    Nothing salaried panned out, and Kara's resolve was tested as she often panicked under the weight of the stress, and the negative cycle of her scarcity mindset.  After reaching rock bottom, she realized she needed to create positive momentum in order to escape her negative money script.   So she got to work. She paid off $25,302 in student loan debt while never making more than $32,000 per year and only using gig economy jobs!  No full time salaried positions.  She <a href="https://houseoffi.com/2018/08/08/episode-2-meet-your-co-host-timika-side-hustling-her-way-to-financial-independence-the-six-figure-side-hustle/" rel="noopener nofollow" target="_blank">HUSTLED</a>! What is <a href="http://BravelyGo.Co?" rel="nofollow" target="_blank">BravelyGo.Co?</a> Men Lie, Women Lie, Numbers Don't -Jay Z Bravely is a financial literacy pop up event company.  Bravely focuses on everything financial, with pop ups about debt repayment, buying homes, and everything in between.  According the the numbers women have lower income levels and retirement savings rates. Knowing this, we can adjust our paths, and begin a different relationship with money.   Bravely looks at our privilege, our privileges, our obstacles, and wage ceilings. It also aims to educate learners to move past these social constructs. The company is as powerful as it's owner.  It places an emphasis on creating agency within the individual while preparing them for potential financial pitfalls. Links in this episode: <a href="https://www.bravelygo.co/" rel="noopener nofollow" target="_blank">Bravely Financial Company</a> <a href="https://thefairercents.com/" rel="noopener nofollow" target="_blank">Fairer Cents Podcast</a> Kara on the final questions: <ul> <li>Always save something - his grandfather taught her this as a young girl and she always followed his advice</li> <li>Currently, Kara is reading "Spinning Silver", Shout out to Uncle Jack! <a href="https://www.amazon.com/Spinning-Silver-Novel-Naomi-Novik/dp/0399180982/ref=as_li_ss_il?ie=UTF8&amp;qid=1542154943&amp;sr=8-1&amp;keywords=spinning+silver&amp;linkCode=li2&amp;tag=houseoffi-20&amp;linkId=cc1c42e7a07dc56918512cbc0fd32341&amp;language=en_US" rel="noopener nofollow" target="_blank"></a></li> <li>The best way to contact Kara is through Instagram @webravelygo!  Also, you can find her through her website, <a href="http://bravelygo.co" rel="nofollow" target="_blank">bravelygo.co</a> or email her at info@bravelygo.co.</li> </ul>

Episode 17 - Paying Off $25,000.00 in Student Loans,Without a  Full-Time Job and the Leveling the Playing Field for Women 

Curtis Mays

Episode 32 So many times we get asked, "how did you get your spouse on board with FI?"  Finances are one of those areas where a couple should really be on the same page.  But it's hard enough to get on the same page about finances, but to then agree on such a radical concept as FI.  In this episode, Curtis discusses the evolution of his "FI" epiphany and how he transformed from a Reluctant Spouse to being "on FIRE" about FI.  He discusses how he watched his mom struggle as a single mom when he was growing up and not really ever having more than enough to put more than a roof over their head and foot on the table.  In college, after he and Wendy met, he still didn't have any real knowledge of money. But he knew how to work and to be a provider and for many years - he simply accepted that was his role.  Struggle was a common occurrence during the early years of their marriage and he and Wendy had many years of ups and downs after that.  So, when Wendy came to him several years ago he, at first, just thought this was another one of her crazy plans.  But it wasn't.  It took a while, but after Curtis decided to listen to a podcast on his own, he began to understand.  Along the way, there were a few other moments for Curtis where things began to click for him. He was inspired after meeting JL Collins in Greece for Chautauqua last year. It was an incredible time being surrounded by others who all were on the same path.  Listen in to see how Curtis finally came around and is now 100% on board with the plan to achieve Financial Independence by age 55.    Mentioned in this episode:  Choose Fi - Pillars of FI  JL Collins -  The Simple Path to Wealth  Christy and Bryce - Millennial Revolution Alan and Katie Donegan - Pop-Up Business School

Episode 32 So many times we get asked, "how did you get your spouse on board with FI?"  Finances are one of those areas where a couple should really be on the same page.  But it's hard enough to get on the same page about finances, but to then agree on such a radical concept as FI.  In this episode, Curtis discusses the evolution of his "FI" epiphany and how he transformed from a Reluctant Spouse to being "on FIRE" about FI.  He discusses how he watched his mom struggle as a single mom when he was growing up and not really ever having more than enough to put more than a roof over their head and foot on the table.  In college, after he and Wendy met, he still didn't have any real knowledge of money. But he knew how to work and to be a provider and for many years - he simply accepted that was his role.  Struggle was a common occurrence during the early years of their marriage and he and Wendy had many years of ups and downs after that.  So, when Wendy came to him several years ago he, at first, just thought this was another one of her crazy plans.  But it wasn't.  It took a while, but after Curtis decided to listen to a podcast on his own, he began to understand.  Along the way, there were a few other moments for Curtis where things began to click for him. He was inspired after meeting JL Collins in Greece for Chautauqua last year. It was an incredible time being surrounded by others who all were on the same path.  Listen in to see how Curtis finally came around and is now 100% on board with the plan to achieve Financial Independence by age 55.  Mentioned in this episode:  Choose Fi - <a href="https://www.choosefi.com/021-pillars-of-fi/" rel="nofollow" target="_blank">Pillars of FI</a> JL Collins - <a href="https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926" rel="nofollow" target="_blank"> The Simple Path to Wealth</a> Christy and Bryce - <a href="https://www.millennial-revolution.com/" rel="nofollow" target="_blank">Millennial Revolution</a> Alan and Katie Donegan - <a href="https://www.popupbusinessschool.co.uk/" rel="nofollow" target="_blank">Pop-Up Business School</a>

The Reluctant Spouse - Getting Your Partner on Board with FIRE with Curtis Mays

Imagine living paycheck to paycheck and swimming in $100,000.00 of debt and working yourself into exhaustion - not seeing any way out of your situation.  No matter how hard you have worked - you just can't seem to make any progress.  What do you do?  The reality is that this scenario is not uncommon in the United States.  It can be overwhelming and feel hopeless. In 2015, Kyle Renke and his wife were a young family and had become slaves to their jobs - not making any financial progress. They decided they had to do something different - they needed to make a big move and do something about their situation.  They decided to analyze a few different ways that they could begin designing a life that works better and more in line with the life they wanted to live.  One of the first moves Kyle and his wife made was to look at his wife's job and seeing if there was a way for her to work less.  What they found that if she worked per diem as opposed to regular hours - she could earn more per hour.  This allowed her to work less for the same amount of money.  This one move allowed her to work several days less a week to be home with their children, without losing income. This also saved a big amount in daycare expenses.  Kyle made a similar choice and reduced his hours slightly which gave him the mental bandwidth to become a part-time Realtor in addition to his job as a speech pathologist.   The final thing they did was they decided to sell their house and rent instead.  By selling their home they were able to unlock their equity and pay off a big portion of their debt.  By renting they ended up saving $1000.00 a month.   With the savings they have made by renting, reduced daycare costs, and the real estate income - Kyle and his wife have paid off $100,000.00! In just three years they have gone from a negative $15,000.00 net worth to over $100,000.00.  Their plans for their future include saving money to pay cash for an out of state rental property and employ the BRRR method to Buy, Rehab, Rent and Refinance.  If you would like to learn more about that you can listen to Episode 40 with David Greene.  Kyle on the Final Questions:  Kyle's favorite lesson he learned as a child was learning to know what he is worth and to not be timid when it comes to asking for a raise.   Favorite Read:  Kyle's most recent favorite read is Mastery by Robert Greene Where Can You Find Kyle:  Instagram -  @kylerenke @relentlessfi Or on Facebook Kyle Renke  You can also take a look at his blog RelentlessFI HERE

Imagine living paycheck to paycheck and swimming in $100,000.00 of debt and working yourself into exhaustion - not seeing any way out of your situation.  No matter how hard you have worked - you just can't seem to make any progress.  What do you do?  The reality is that this scenario is not uncommon in the United States.  It can be overwhelming and feel hopeless. In 2015, Kyle Renke and his wife were a young family and had become slaves to their jobs - not making any financial progress. They decided they had to do something different - they needed to make a big move and do something about their situation.  They decided to analyze a few different ways that they could begin designing a life that works better and more in line with the life they wanted to live.  One of the first moves Kyle and his wife made was to look at his wife's job and seeing if there was a way for her to work less.  What they found that if she worked per diem as opposed to regular hours - she could earn more per hour.  This allowed her to work less for the same amount of money.  This one move allowed her to work several days less a week to be home with their children, without losing income. This also saved a big amount in daycare expenses.  Kyle made a similar choice and reduced his hours slightly which gave him the mental bandwidth to become a part-time Realtor in addition to his job as a speech pathologist.   The final thing they did was they decided to sell their house and rent instead.  By selling their home they were able to unlock their equity and pay off a big portion of their debt.  By renting they ended up saving $1000.00 a month.   With the savings they have made by renting, reduced daycare costs, and the real estate income - Kyle and his wife have paid off $100,000.00! In just three years they have gone from a negative $15,000.00 net worth to over $100,000.00.  Their plans for their future include saving money to pay cash for an out of state rental property and employ the BRRR method to Buy, Rehab, Rent and Refinance.  If you would like to learn more about that you can listen to Episode 40 with David Greene.  Kyle on the Final Questions:  Kyle's favorite lesson he learned as a child was learning to know what he is worth and to not be timid when it comes to asking for a raise.   Favorite Read:  Kyle's most recent favorite read is Mastery by Robert Greene Where Can You Find Kyle:  Instagram -  <a href="https://www.instagram.com/kylerenke/" rel="noopener nofollow" target="_blank">@kylerenke</a> <a href="https://www.instagram.com/relentlessfi/" rel="noopener nofollow" target="_blank">@relentlessfi</a> Or on Facebook <a href="https://www.facebook.com/kylerenke" rel="noopener nofollow" target="_blank">Kyle Renke </a> You can also take a look at his blog RelentlessFI <a href="https://relentlessfi.com/" rel="noopener nofollow" target="_blank">HERE</a>

Making Unconvential Moves to Pay Off $100,000.00 In Debt

Military FI Today on the podcast we spoke to Grumpus Maximus, a blogger and active member of the Financial Independence community, who takes a special interest in teaching his followers about pensions and retirement accounts.  The thing about today’s episode that was so striking, was that we spent a good portion of it talking about the psychological difficulties of staying at work when you are no longer interested or it is affecting your mental health.  Have you ever felt this way? Stuck in a job where everyday feels like a repeat of the day before? Both Wendy and I have had moments in our careers where we’ve felt the urge to break free of a job that weighed on us.  Grumpus has felt this way too, but there is added pressure from his job because unfortunately (fortunately?) he is inches away from crossing a Military Pension finish line!     Today we learned so much more about Grumpus’ interesting back story, and we discovered tips that will help us to more deeply assess our retirement planning options. Who Is Grumpus Maximus Grumpus is a natural storyteller.  He took us back through his life, highlighting the major financial turning points along the way.  We were able to fully explore each windfall and/or decision, and gathered some great tips for parents or individuals that find themselves in similar situations today.   Timeline: The Financial History of Grumpus  Financial “Windfall” at an early age (but at a major cost) Entering the military as a Master’s Degree Level Officer The Mental Breakdown that changed everything The Birth of Grumpus Maximus and The Golden Albatross Blog  The Grumpus Approach to Retirement Accounts Military members have so much to consider when maneuvering their way through their financial benefits, and much of the time they are not provided with adequate personal finance education.  This is something many non military members can also relate to. In both instances we are faced with making potentially life altering money decisions from a place quite close to ignorance. Grumpus defined the “High Three Pension Benefit” open to military members before a certain date, and he also defined various retirement accounts for us.  He talked a little about 403bs, 457s, federal/state and military pensions, defined contribution pension, and other accounts. Grumpus also discussed the key steps a person needs to take to figure out what accounts they have access to within their jobs, and also, how to value a pension!  In order to know whether or not you should  walk away from a job or stay is to see exactly what you are walking away from.  Figuring out the true value of the pension is part of that decision making process.   The true definition of a pension    defined benefit pension (paid in perpetuity) declining in the private sector (under 8%), more in the union benefits.  Become more powerful when connected with life insurance, health care benefits, cola adjustments. Defined contribution pension plans (public schools, etc) - access to a 403b and 457 plan usually the case as well. These come with some perks as well, such as being able to access the money prior to normal retirement dates. Thrift savings program - savings vehicle within the military. New development is a potential for a match, but this is a new blended program. The previous plan was the High 3s plan.  There are trade offs, including the reduction of the multiplier from 2.5 to 1.5, but there is not a match component.  Your contributions are matched by the federal government to a certain percentage. This means that if you don’t make it to 20 years, which represents the majority of military members,  you will at least leave the military with the matched contributions! This is a huge change, and will serve as a benefit for most. Roth options vs. Traditional options generally affect taxes. Health Savings accounts can act like a retirement vehicle the way they are currently written.  The Grumpus Approach to Gutting It Out Grumpus talked openly about the juxtaposition of mental health vs staying in a career. In fact, he wrote an awesome post about “gutting it out”.  After reading the post, I wrote a  direct response blog.  It was a fun exercise because it showed that there are things within our control that we can do to make the best of the work situations that we find ourselves in.   It is key to note, if you are truly feeling depressed within your current situation, you may need to speak with a mental health professional to tease out whether you are just going through an emotional lull or if you are facing real depression.  True depression requires additional support and possibly a change of environment. Please find professional help if you feel that you are in need of professional support. Military Benefits Let’s talk about Military Benefits.  Did you know about the GI Bill? Did you know that you can “give” your Gi Bill proceeds to a dependent or spouse?  Did you know that you can split the GI bill between multiple dependents? Did you know that as soon as you decide to pass the GI bill along, you should sign the paperwork?!  This is important because once you sign you incur a 4 year commitment starting on that day. Listen to find out the mistake that Grumpus made related to this GI Bill assignment! Also, check out the Yellow Ribbon Program to figure out which schools will cover educational costs above and beyond the GI Bill Maximums. There are other benefits too!  COLA, or cost of living adjustments are baked into the military pensions.  Health care access is extensive and healthcare coverage is one of the biggest FI issues facing those that want to retire early.  In America, health care coverage is tightly linked to work. You work, you get coverage. You don’t work and coverage is expensive to obtain.   Knowing the value of your benefits are the very first step to figuring out if you should stay or you should go.   Topic Overview For This Episode  Grumpus Maximus about pensions and the military Where the name Grumpus Maximus comes from The Golden Albatross Grumpus Maximus’ backstory How he discovered the FI movement How he wanted to quit the military but would then lose all the benefits His relationship with Mrs Grumpus about money How to manage finances as a couple the non Grumpus way What FI looks like now for Grumpus How Grumpus got through the mental breakdown His top resources for learning about FI How to understand the pension How the military retirement system is changing for the younger generation Grumpus presented FI to his colleagues in the military  Grumpus on the Final Questions:  Learn to live within your means, Learn to save money, and the earlier the better!  Grow and compound your savings before you potentially hit that “Golden Albatross Moment”  High Cost of Living Area Hacks - Menu planning is a huge benefit for their family.  Mrs. Grumpus is buying meals with a specific intent, thereby saving their family thousands of dollars over time.  They also use the big box stores like Costco and Sam’s Club - but you must “do it right” so as to not overspend. Shop from your pantry first, and then meal plan.  Find Grumpus at www.grumpusmaximus.com , via email at grumpusmaximus@grumpusmaximus.com or on twitter @maximusgrumpus.  Join Grumpus’ facebook group to grump about any topic related to retirement!   Stay Tuned For Our Next Episode…  Join us in the next episode when we talk to the most fun couple, Amon and Christina Browning of the Youtube Channel Our Rich Journey!  This family of four travels to foreign places to work, and they share their experience of traveling with a family. This episode with Amon and Christina was SO GOOD that Wendy is now secretly plotting out ways to convince her hubby to move abroad!   What was one thing you learned by listening to Grumpus? Let us know in the comment section below or continue the discussion in Our Facebook Group! Please take a moment to subscribe to the podcast via  iTunes or Stitcher so you don’t miss the next episode! While you’re at it, give us a rating and Tweet the podcast to your friends. We are having a Free 4 week Money Bootcamp aimed at helping you get control of your finances, save more and spend less.  Space is limited, so send us a message via Facebook or through our website contact form today. If you’d like to be a guest on the show, please contact us on HouseOfFi.com

Military FI Today on the podcast we spoke to <a href="http://grumpusmaximus.com" rel="nofollow" target="_blank">Grumpus Maximus</a>, a blogger and active member of the Financial Independence community, who takes a special interest in teaching his followers about pensions and retirement accounts.  The thing about today’s episode that was so striking, was that we spent a good portion of it talking about the psychological difficulties of staying at work when you are no longer interested or it is affecting your mental health.  Have you ever felt this way? Stuck in a job where everyday feels like a repeat of the day before? Both Wendy and I have had moments in our careers where we’ve felt the urge to break free of a job that weighed on us.  Grumpus has felt this way too, but there is added pressure from his job because unfortunately (fortunately?) he is inches away from crossing a Military Pension finish line!     Today we learned so much more about Grumpus’ interesting back story, and we discovered tips that will help us to more deeply assess our retirement planning options. Who Is Grumpus Maximus Grumpus is a natural storyteller.  He took us back through his life, highlighting the major financial turning points along the way.  We were able to fully explore each windfall and/or decision, and gathered some great tips for parents or individuals that find themselves in similar situations today.   Timeline: The Financial History of Grumpus <ul> <li>Financial “Windfall” at an early age (but at a major cost)</li> <li>Entering the military as a Master’s Degree Level Officer</li> <li>The Mental Breakdown that changed everything</li> <li>The Birth of Grumpus Maximus and The Golden Albatross Blog</li> </ul> The Grumpus Approach to Retirement Accounts Military members have so much to consider when maneuvering their way through their financial benefits, and much of the time they are not provided with adequate personal finance education.  This is something many non military members can also relate to. In both instances we are faced with making potentially life altering money decisions from a place quite close to ignorance. Grumpus defined the “High Three Pension Benefit” open to military members before a certain date, and he also defined various retirement accounts for us.  He talked a little about 403bs, 457s, federal/state and military pensions, defined contribution pension, and other accounts. Grumpus also discussed the key steps a person needs to take to figure out what accounts they have access to within their jobs, and also, how to value a pension!  In order to know whether or not you should  walk away from a job or stay is to see exactly what you are walking away from.  Figuring out the true value of the pension is part of that decision making process.   The true definition of a pension   <ul> <li>defined benefit pension (paid in perpetuity) declining in the private sector (under 8%), more in the union benefits.  Become more powerful when connected with life insurance, health care benefits, cola adjustments.</li> <li>Defined contribution pension plans (public schools, etc) - access to a 403b and 457 plan usually the case as well. These come with some perks as well, such as being able to access the money prior to normal retirement dates.</li> <li>Thrift savings program - savings vehicle within the military. New development is a potential for a match, but this is a new blended program. The previous plan was the High 3s plan.  There are trade offs, including the reduction of the multiplier from 2.5 to 1.5, but there is not a match component.  Your contributions are matched by the federal government to a certain percentage. This means that if you don’t make it to 20 years, which represents the majority of military members,  you will at least leave the military with the matched contributions! This is a huge change, and will serve as a benefit for most.</li> <li>Roth options vs. Traditional options generally affect taxes.</li> <li>Health Savings accounts can act like a retirement vehicle the way they are currently written.</li> </ul> The Grumpus Approach to Gutting It Out Grumpus talked openly about the juxtaposition of mental health vs staying in a career. In fact, he wrote an awesome post about “<a href="https://grumpusmaximus.com/gutting-it-out-whats-worked-for-me-so-far/" rel="nofollow" target="_blank">gutting it out</a>”.  After reading the post, I wrote a <a href="https://reluctantfrugalist.com/the-road-to-retirement-relearning-to-love-work/" rel="nofollow" target="_blank"> direct response</a> blog.  It was a fun exercise because it showed that there are things within our control that we can do to make the best of the work situations that we find ourselves in.   It is key to note, if you are truly feeling depressed within your current situation, you may need to speak with a mental health professional to tease out whether you are just going through an emotional lull or if you are facing real depression.  True depression requires additional support and possibly a change of environment. Please find professional help if you feel that you are in need of professional support. Military Benefits Let’s talk about Military Benefits.  Did you know about the GI Bill? Did you know that you can “give” your Gi Bill proceeds to a dependent or spouse?  Did you know that you can split the GI bill between multiple dependents? Did you know that as soon as you decide to pass the GI bill along, you should sign the paperwork?!  This is important because once you sign you incur a 4 year commitment starting on that day. Listen to find out the mistake that Grumpus made related to this GI Bill assignment! Also, check out the <a href="https://www.benefits.va.gov/gibill/yellow_ribbon.asp" rel="nofollow" target="_blank">Yellow Ribbon Program</a> to figure out which schools will cover educational costs above and beyond the GI Bill Maximums. There are other benefits too!  COLA, or cost of living adjustments are baked into the military pensions.  Health care access is extensive and healthcare coverage is one of the biggest FI issues facing those that want to retire early.  In America, health care coverage is tightly linked to work. You work, you get coverage. You don’t work and coverage is expensive to obtain.   Knowing the value of your benefits are the very first step to figuring out if you should stay or you should go.   Topic Overview For This Episode <ul> <li>Grumpus Maximus about pensions and the military</li> <li>Where the name Grumpus Maximus comes from</li> <li>The Golden Albatross</li> <li>Grumpus Maximus’ backstory</li> <li>How he discovered the FI movement</li> <li>How he wanted to quit the military but would then lose all the benefits</li> <li>His relationship with Mrs Grumpus about money</li> <li>How to manage finances as a couple the non Grumpus way</li> <li>What FI looks like now for Grumpus</li> <li>How Grumpus got through the mental breakdown</li> <li>His top resources for learning about FI</li> <li>How to understand the pension</li> <li>How the military retirement system is changing for the younger generation</li> <li>Grumpus presented FI to his colleagues in the military</li> </ul> Grumpus on the Final Questions: <ul> <li>Learn to live within your means, Learn to save money, and the earlier the better!  Grow and compound your savings before you potentially hit that “Golden Albatross Moment” </li> <li>High Cost of Living Area Hacks - Menu planning is a huge benefit for their family.  Mrs. Grumpus is buying meals with a specific intent, thereby saving their family thousands of dollars over time.  They also use the big box stores like Costco and Sam’s Club - but you must “do it right” so as to not overspend. Shop from your pantry first, and then meal plan. </li> <li>Find Grumpus at <a href="http://www.grumpusmaximus.com" rel="nofollow" target="_blank">www.grumpusmaximus.com</a> , via email at <a href="mailto:grumpusmaximus@grumpusmaximus.com">grumpusmaximus@grumpusmaximus.com</a> or on twitter @maximusgrumpus.  Join Grumpus’ <a href="https://www.facebook.com/groups/2147646148795314/" rel="nofollow" target="_blank">facebook group</a> to grump about any topic related to retirement!  </li> <li>Stay Tuned For Our Next Episode…</li> </ul> Join us in the next episode when we talk to the most fun couple, Amon and Christina Browning of the Youtube Channel Our Rich Journey!  This family of four travels to foreign places to work, and they share their experience of traveling with a family. This episode with Amon and Christina was SO GOOD that Wendy is now secretly plotting out ways to convince her hubby to move abroad!   What was one thing you learned by listening to Grumpus? Let us know in the comment section below or continue the discussion in <a href="https://www.facebook.com/Houseoffi/" rel="noopener nofollow" target="_blank">Our Facebook Group</a>! Please take a moment to subscribe to the podcast via <a href="https://itunes.apple.com/us/podcast/house-fi-financial-independence-for-families-dave-ramsey/id1423279880?mt=2" rel="nofollow" target="_blank"> iTunes</a> or <a href="https://www.stitcher.com/podcast/house-of-fi" rel="nofollow" target="_blank">Stitcher</a> so you don’t miss the next episode! While you’re at it, give us a rating and Tweet the podcast to your friends. We are having a Free 4 week Money Bootcamp aimed at helping you get control of your finances, save more and spend less.  Space is limited, so send us a message via Facebook or through our website contact form today. If you’d like to be a guest on the show, please contact us on <a href="http://houseoffi.com" rel="nofollow" target="_blank">HouseOfFi.com</a>

Episode 12 - Military, Public Service and Pensions - Should I Stay or Should I Go?

Like a lot of people, Travis didn't always have money growing up.  In fact, there were times when there just wasn't enough to go around.  Even so, Travis took in the many lessons and stories his grandfather told him about the hardships his generation endured during the Great Depression.  It was through his grandfather's vivid story-telling that Travis gleaned the importance of saving and of frugality.  College and Career After college, Travis entered corporate America as a bond trader.  Because he followed the wisdom of his grandfather - he didn't let lifestyle creep take over but saved religiously and lived well below his means.  He experienced tremendous success as a bond trader. The problem was - he was not fulfilled.  He grappled with the thought, before coming to the conclusion that the corporate world was not for him.  Deeply unsatisfied with his career - he took two years off, to his parents chagrin, and travelled Europe.  But this wasn't a time of purposeless wandering for Travis; instead, he used this time to really think of the future he wanted for himself and getting rid of old thought patterns and beliefs that were holding him back.  Finding His Calling Sometimes we find our calling by accident.  That is what happened to Travis.  He was helping his wife figure out the best possible scenarios to pay off her student loans and put a plan in place for her.  Soon, her friends wanted to help too, and the seed was planted.  Student Loan Planner was born. To date, he’s consulted on over $300 million in student debt personally, more than anyone else in the country. He is a Chartered Financial Analyst and brings his background as a former bond trader trading billions of dollars with him. Where To Get Help For Your Student Loans If you think you could benefit from looking at your options. Travis has provided the following resources:  If you're curious about refinancing student loans           Or if you need a plan for handling your student debt   Here's details on consolidation:    Consolidate your loans by logging into studentloans.gov. Click on the "consolidate my loans" section. You should see a long list of your loans. Check all the ones you want to include. You can see the titles of each individual loan by hovering over the question mark box with your mouse and the name should pop up. Any loans that don't say "Direct" should be consolidated. FFEL loans are the most commonly consolidated.   You'll also be able to send your new consolidation loan to the servicer of your choice. Check what payment plan you want (REPAYE), and the whole process should take about 2 months at most for everything to transition over.    You can call the Dept of Ed's Student Loan Support Center at 18005577394 if you have any questions or want help doing the consolidation.

Like a lot of people, Travis didn't always have money growing up.  In fact, there were times when there just wasn't enough to go around.  Even so, Travis took in the many lessons and stories his grandfather told him about the hardships his generation endured during the Great Depression.  It was through his grandfather's vivid story-telling that Travis gleaned the importance of saving and of frugality.  College and Career After college, Travis entered corporate America as a bond trader.  Because he followed the wisdom of his grandfather - he didn't let lifestyle creep take over but saved religiously and lived well below his means.  He experienced tremendous success as a bond trader. The problem was - he was not fulfilled.  He grappled with the thought, before coming to the conclusion that the corporate world was not for him.  Deeply unsatisfied with his career - he took two years off, to his parents chagrin, and travelled Europe.  But this wasn't a time of purposeless wandering for Travis; instead, he used this time to really think of the future he wanted for himself and getting rid of old thought patterns and beliefs that were holding him back.  Finding His Calling Sometimes we find our calling by accident.  That is what happened to Travis.  He was helping his wife figure out the best possible scenarios to pay off her student loans and put a plan in place for her.  Soon, her friends wanted to help too, and the seed was planted.  Student Loan Planner was born. To date, he’s consulted on over $300 million in student debt personally, more than anyone else in the country. He is a Chartered Financial Analyst and brings his background as a former bond trader trading billions of dollars with him. Where To Get Help For Your Student Loans If you think you could benefit from looking at your options. Travis has provided the following resources:  If you're <a href="https://studentloanplanner.com/refinance-student-loans/" rel="noopener nofollow" target="_blank">curious about refinancing student loans</a>    Or if you <a href="https://studentloanplanner.com/hire-student-loan-help/" rel="noopener nofollow" target="_blank">need a plan</a> for handling your student debt   Here's details on consolidation:   Consolidate your loans by logging into <a href="http://studentloans.gov/" rel="noopener nofollow" target="_blank">studentloans.gov</a>. Click on the "consolidate my loans" section. You should see a long list of your loans. Check all the ones you want to include. You can see the titles of each individual loan by hovering over the question mark box with your mouse and the name should pop up. Any loans that don't say "Direct" should be consolidated. FFEL loans are the most commonly consolidated.   You'll also be able to send your new consolidation loan to the servicer of your choice. Check what payment plan you want (REPAYE), and the whole process should take about 2 months at most for everything to transition over.    You can call the Dept of Ed's Student Loan Support Center at 18005577394 if you have any questions or want help doing the consolidation.

Episode 31: Wanna Crush Your Student Loan Debt?

Popcorn and Finance I guess you could call me boring, but my favorite type of popcorn is totally movie butter with salt!  Why am I telling you all this? Well, today’s House of FI guest is Chris Browning of the awesome show Popcorn Finance!  The theme of his show is discussing finance in about the time it takes to make a bag of popcorn. The show is quick and you can get through a bunch of episodes on a commute to work, which makes it a nice choice to add to your rotation.     Today in the episode we talked to the man behind the mic, Chris Browning, a finance and accounting professional that loved educating others about money.  Some interesting facts about Chris include that he started college as an Art Major due to his love of Dragon Ball-Z as a child.  When Chris made it to college, things changed.  For a few reasons, he decided not to stick with Art as a major, but his art skills continued to develop.    This is a concept that I talk about often in my posts and discussions on the Talent Stack, so it was awesome to see it clearly in his experience.  So, how does Talent Stacking play a roll in Chris' podcasting business?  Well, he designs the graphics and website for much if not all of Popcorn Finance!  He is awesome at design and it shows.   The takeaway for YOU, House of FI, is definitely to use the talent stack you have cultivated to this point to pursue the stuff you love.  Combining his art skills with his finance degree has led to a very successful and fun themed podcast.  What could your talent stack lead to for you? Sign up for the 50 Side Hustle Idea Guide here if you are looking to put your own talents to work!  Chris' Big Personal Finance Mistake So, when you major in finance, you never make personal finance mistakes, right?  Not so fast - we have heard it time and again that people in accounting, finance, banking, the credit industry, fall into the same financial traps as everyone else because of the lack of financial education. Chris was no exception.   We take a deep dive into the stressful pressure Chris felt with he realized the true weight of the debt he and his wife found themselves under.   Listen to find out how they got rid of the debt, AND the method they use to this day that KEEPS THEM OUT OF THE DEBT.   College For Free!?! It's arguably the Holy Grail of the FI world:  Going to college without student loan debt!  We all know the story of how Wendy and I took on major student loan debt in order to secure our employment in Law, Nursing and Accounting.  If you don't remember our stories, you can hear Wendy's here and mine here.  What a different time we would have right now had we avoided the 6 figures in student loan debt?  Well, Chris was smart and or lucky enough to do just that.  Listen to his episode to find out how he made his way through undergrad without student loan debt to speak of by listening to his episode.     Chris Browning on the Final Questions:  Buy something that is more quality than cheap so that it lasts.  His most recent purchase - mobile podcast gear such as zoom h6 - can record on a sd card but can add 6 mics.   It’s your money, you don’t have to impress everyone.  Nice cars, fancy restaurants, big house - you don’t have to impress anyone - you are both ending up outspending each other to impress each other - endless cycle. Live within your means, at the end of the day you will have what’s in your bank account. The BEST way to find Chris?  popcornfinance.com    Stay Tuned For Our Next Episode…   What is something you learned about developing a talent stack like Chris’ today? Let us know in the comment section below or continue the discussion in Our Facebook Group! Please take a moment to subscribe to the podcast via  iTunes or Stitcher so you don’t miss the next episode! While you’re at it, give us a 5-star rating and share the podcast to your friends.   If you’d like to be a guest on the show, please contact us on HouseOfFi.com

Popcorn and Finance I guess you could call me boring, but my favorite type of popcorn is totally movie butter with salt!  Why am I telling you all this? Well, today’s House of FI guest is Chris Browning of the awesome show Popcorn Finance!  The theme of his show is discussing finance in about the time it takes to make a bag of popcorn. The show is quick and you can get through a bunch of episodes on a commute to work, which makes it a nice choice to add to your rotation.   Today in the episode we talked to the man behind the mic, Chris Browning, a finance and accounting professional that loved educating others about money.  Some interesting facts about Chris include that he started college as an Art Major due to his love of Dragon Ball-Z as a child.  When Chris made it to college, things changed.  For a few reasons, he decided not to stick with Art as a major, but his art skills continued to develop.  This is a concept that I talk about often in my posts and discussions on the <a href="https://houseoffi.com/2018/10/26/parenting-fi-kids-the-talent-stack/" rel="noopener nofollow" target="_blank">Talent Stack</a>, so it was awesome to see it clearly in his experience.  So, how does Talent Stacking play a roll in Chris' podcasting business?  Well, he designs the graphics and website for much if not all of Popcorn Finance!  He is awesome at design and it shows.   The takeaway for YOU, House of FI, is definitely to use the talent stack you have cultivated to this point to pursue the stuff you love.  Combining his art skills with his finance degree has led to a very successful and fun themed podcast.  What could your talent stack lead to for you? Sign up for the 50 Side Hustle Idea Guide <a href="https://reluctantfrugalist.com/" rel="noopener nofollow" target="_blank">here</a> if you are looking to put your own talents to work!  Chris' Big Personal Finance Mistake So, when you major in finance, you never make personal finance mistakes, right?  Not so fast - we have heard it time and again that people in accounting, finance, banking, the credit industry, fall into the same financial traps as everyone else because of the lack of financial education. Chris was no exception.   We take a deep dive into the stressful pressure Chris felt with he realized the true weight of the debt he and his wife found themselves under.   Listen to find out how they got rid of the debt, AND the method they use to this day that KEEPS THEM OUT OF THE DEBT.   College For Free!?! It's arguably the Holy Grail of the FI world:  Going to college without student loan debt!  We all know the story of how Wendy and I took on major student loan debt in order to secure our employment in Law, Nursing and Accounting.  If you don't remember our stories, you can hear Wendy's <a href="https://houseoffi.com/2018/08/08/episode-3-meet-your-co-host-wendy-the-long-road-to-finding-fi/" rel="noopener nofollow" target="_blank">here</a> and mine <a href="https://houseoffi.com/2018/08/08/episode-2-meet-your-co-host-timika-side-hustling-her-way-to-financial-independence-the-six-figure-side-hustle/" rel="noopener nofollow" target="_blank">here</a>.  What a different time we would have right now had we avoided the 6 figures in student loan debt?  Well, Chris was smart and or lucky enough to do just that.  Listen to his episode to find out how he made his way through undergrad without student loan debt to speak of by listening to his episode.     Chris Browning on the Final Questions: <ul> <li>Buy something that is more quality than cheap so that it lasts.  His most recent purchase - mobile podcast gear such as zoom h6 - can record on a sd card but can add 6 mics.  </li> <li>It’s your money, you don’t have to impress everyone.  Nice cars, fancy restaurants, big house - you don’t have to impress anyone - you are both ending up outspending each other to impress each other - endless cycle.</li> <li>Live within your means, at the end of the day you will have what’s in your bank account.</li> <li>The BEST way to find Chris?  <a href="http://popcornfinance.com" rel="nofollow" target="_blank">popcornfinance.com</a></li> </ul>   Stay Tuned For Our Next Episode… What is something you learned about developing a talent stack like Chris’ today? Let us know in the comment section below or continue the discussion in <a href="https://www.facebook.com/Houseoffi/" rel="nofollow" target="_blank">Our Facebook Group</a>! Please take a moment to subscribe to the podcast via <a href="https://itunes.apple.com/us/podcast/house-fi-financial-independence-for-families-dave-ramsey/id1423279880?mt=2" rel="nofollow" target="_blank"> iTunes</a> or <a href="https://www.stitcher.com/podcast/house-of-fi" rel="nofollow" target="_blank">Stitcher</a> so you don’t miss the next episode! While you’re at it, give us a 5-star rating and share the podcast to your friends. If you’d like to be a guest on the show, please contact us on <a href="http://houseoffi.com/" rel="nofollow" target="_blank">HouseOfFi.com</a>

Episode 15 Getting Honest About Your Debt  and Then Crushing It Side-Hustles and Career Change

THAT'S A WRAP! HOUSE OF FI 2018 A END OF THE YEAR REVIEW   What an incredible year it has been. We started a podcast ya'all! We can barely believe it ourselves. What motivated two busy moms, with nine kids between them, with no training or experience to step outside their comfort zone? Well, we both saw a need. We saw a void in the FIRE movement. What we saw lacking was a voice and sufficient resources for moms and dads who were on their journey to FI. But not just traditional moms an dads - the full spectrum of parenthood. So we decided to do something about it!   We launched our show in August of 2018, but prior to launching there were eight months of preparation behind the scenes. Not just interviewing people, but learning equipment, working out kinks, figuring out how to edit. It was more work than we could have ever anticipated, which was probably a good thing, because had we know the level of difficulty when we started, we may never have begun.   Our Vision   Some of you may not know this, but we did all of this while getting to know one another. Timika and I were strangers one year ago. We knew each other's names from a common facebook group, but that was the extent of it. But there was a common desire - we wanted to help others and it was this common ground that has been fertile soil for not just this podcast partnership, but an amazing friendship.   We Could Not Have Done This Without You!   We have had some great guests on the show. They have been so gracious in agreeing to come on a show that was growing. Without them, there would be no show. So, to all of our guests, many who have become fast friends, we send a big HUGE virtual hug. We love you guys and are so thankful to know you.   Your money advice has been incredible...here are some of the highlights.    10 BEST Money Lessons of 2018   And to our listeners...you are simply the BEST. You have helped us grow and have truly humbled us. We seriously began this journey having NO IDEA what we were doing. But, we knew there was a need and we knew that as two busy moms, with careers, and all the stuff that comes with running a household - that if we could bring on guests that would help OUR financial independence journey - they would help yours too! So, thank you for stopping by our house; we're glad you were here. Our house is your house.    Top 100....whaaaat?!?!   Because of your support, we have reached some pretty big goals.    TOP 20% OF ALL PODCASTS. (Whaaat! That is just amazing guys.) We have been in the top 100 of two of our categories, business and investing several  times Our weekly listeners have grown more than 10 times since we first started     We reached 11,000 downloads in November in record time ....we can't wait to update you when we reach 25,000.   Our commitment to you is to continue to bring on guests that serve your needs and to provide inspiration and practical tools to blow your 2019 Money Goals out of the water! We'd love to help you do that...   If you would like to be part of our 2019 Money Coaching Program, shoot us a PM on Facebook, email us at info@houseoffi.com, or send us a message via our contact page and simply let us know you want in! We are taking pre-registrations now.     https://houseoffi.com/contact/   2018 LISTENER READS   One of our favorite questions we have asked our listeners this year is to ask what they are reading. Who doesn’t love a good read, right? Especially this time of year when we can cozy up under a blanket.     You would think a bunch of Money Nerds would only be reading a bunch of financial books, WRONG. Lots of interesting picks in the mix, including a couple written by our amazing guests.   The Hole in Our Gospel   Profit First   Total Money Makeover   Ask   Cruise Confidential   Money Letters 2 My Daughter   Spinning Silver   Naked and Unashamed   Wendy and Timika Have Their Own Picks   Becoming by Michelle Obama   Girl Wash Your Face by Rachel Hollis   Profit First   and, The Next Millionaire Next Door   IT'S BEEN AN AMAZING YEAR!  WE CANNOT WAIT TO SEE WHAT 2019 BRINGS!

THAT'S A WRAP! HOUSE OF FI 2018 A END OF THE YEAR REVIEW What an incredible year it has been. We started a podcast ya'all! We can barely believe it ourselves. What motivated two busy moms, with nine kids between them, with no training or experience to step outside their comfort zone? Well, we both saw a need. We saw a void in the FIRE movement. What we saw lacking was a voice and sufficient resources for moms and dads who were on their journey to FI. But not just traditional moms an dads - the full spectrum of parenthood. So we decided to do something about it! We launched our show in August of 2018, but prior to launching there were eight months of preparation behind the scenes. Not just interviewing people, but learning equipment, working out kinks, figuring out how to edit. It was more work than we could have ever anticipated, which was probably a good thing, because had we know the level of difficulty when we started, we may never have begun. Our Vision Some of you may not know this, but we did all of this while getting to know one another. Timika and I were strangers one year ago. We knew each other's names from a common facebook group, but that was the extent of it. But there was a common desire - we wanted to help others and it was this common ground that has been fertile soil for not just this podcast partnership, but an amazing friendship. We Could Not Have Done This Without You! We have had some great guests on the show. They have been so gracious in agreeing to come on a show that was growing. Without them, there would be no show. So, to all of our guests, many who have become fast friends, we send a big HUGE virtual hug. We love you guys and are so thankful to know you. Your money advice has been incredible...here are some of the highlights. 10 BEST Money Lessons of 2018 And to our listeners...you are simply the BEST. You have helped us grow and have truly humbled us. We seriously began this journey having NO IDEA what we were doing. But, we knew there was a need and we knew that as two busy moms, with careers, and all the stuff that comes with running a household - that if we could bring on guests that would help OUR financial independence journey - they would help yours too! So, thank you for stopping by our house; we're glad you were here. Our house is your house. Top 100....whaaaat?!?! Because of your support, we have reached some pretty big goals. <ul> <li>TOP 20% OF ALL PODCASTS. (Whaaat! That is just amazing guys.)</li> <li>We have been in the top 100 of two of our categories, business and investing several  times</li> <li>Our weekly listeners have grown more than 10 times since we first started</li> </ul> We reached 11,000 downloads in November in record time ....we can't wait to update you when we reach 25,000. Our commitment to you is to continue to bring on guests that serve your needs and to provide inspiration and practical tools to blow your 2019 Money Goals out of the water! We'd love to help you do that... If you would like to be part of our 2019 Money Coaching Program, shoot us a PM on Facebook, email us at info@houseoffi.com, or send us a message via our contact page and simply let us know you want in! We are taking pre-registrations now.   <a href="https://houseoffi.com/contact/" rel="nofollow" target="_blank">https://houseoffi.com/contact/</a> 2018 LISTENER READS One of our favorite questions we have asked our listeners this year is to ask what they are reading. Who doesn’t love a good read, right? Especially this time of year when we can cozy up under a blanket.   You would think a bunch of Money Nerds would only be reading a bunch of financial books, WRONG. Lots of interesting picks in the mix, including a couple written by our amazing guests. The Hole in Our Gospel Profit First Total Money Makeover Ask Cruise Confidential Money Letters 2 My Daughter Spinning Silver Naked and Unashamed Wendy and Timika Have Their Own Picks Becoming by Michelle Obama Girl Wash Your Face by Rachel Hollis Profit First and, The Next Millionaire Next Door IT'S BEEN AN AMAZING YEAR!  WE CANNOT WAIT TO SEE WHAT 2019 BRINGS!

Episode 23 - 2018 End of the Year Wrap Up

The best podcast episodes on non-current politics. Covering topics such as universal basic income, democracy, poverty & justice and more. For anyone interested in learning more about politics that affect that world, not just now, but in the longer term. Add episodes you're interested into your queue below!

Best Non-Current Politics Podcasts

The best podcast episodes of the most interesting stories and things. From skyping someone while they're in space, to tracking down and meeting a telephone scammer in person, to the story of a Galapagos. These episodes will keep you and all your friends entertained and captivated for hours. Learn something new in every episode! Add episodes you're interested into your queue below!