House of FI

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    

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.

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.       

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.   

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.   

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    

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 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.   

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    

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.   

In today's show, we are investigating a hot topic in the real estate investing world, we are looking at Airbnb investing and asking the question, "is it still a viable option for short-term rental investing."  You cannot have a conversation about real estate investing without, eventually, having it turn to people wondering if they can take advantage of the popularity of Airbnb and VRBO as options.  Erin has been renting out properties as short-term rentals since 2014.  At that time she and her, now husband, decided to serve the market and become experts in the short-term rental market.  We wanted to know if Erin thought the market is saturated.  She says it really depends.  You have to know your area and it varies from city to city.  One of the reasons for this is due to city codes and ordinances that prohibit short-term rentals (rentals 30 days or less).  If you are considering diving into the short-term rental market Erin suggests the following:   1. Do your due diligence.  Know the law Contact your city planner office  know the HOA and other community requirements  Get insurance quotes for short-term investments Include utilities and other services into the calculations  Know your upfront investment and long term costs 2. Research the Market  Research the vacancy rates Research rental rates  OTHER TIPS If you are going to be a "hands-off" - hire a property manager and KEEP THEM and TREAT THEM WELL if they are good at what they do. Provide a 24/7 way to get in touch with you in case of emergencies  Make sure you have the correct insurance for short-term rentals   OTHER RESOURCES  AirDNA - is a paid service that can give you projections on Airbnbs  Mint - great for tracking your spending Personal Capital - tracks your spending and track your net worth ERIN ON THE FINAL QUESTIONS One Money Lesson Erin Has Carried Over Into Her Financial Journey Erin's Favorite Lifehack That Brings Her Joy  Be engaged with your hobby and if you can find a way to make money doing it - DO IT!  HOW TO REACH ERIN:  James Carlson Real Estate - erin@jamescarlsonrealestate.com  Denver Graffiti Tour - erin@denvergraffititour.com Erin's Favorite Read  7 Habits of Highley Effective People     

Brandon Cunningham has an incredible story of determination, second chances and of finding financial freedom after divorce and two close calls with death. At 27 years old, already a husband and a father, Brandon had a devastating stroke.  His recovery was slow.  But he was still able to finish college without significant delay and then began a career.  Sadly, over the years he and his wife grew apart and the marriage did not survive.  After the divorce, Brandon found himself in debt and raising two children.  It was at about that time that he found Dave Ramsey and he began working very hard, living frugally and making sacrifices and eventually paid off his debt.  He remarried and he and his new wife combined their family and finances.  Unfortunately, his wife was still paying off debt, so Brandon found himself, once again paying off debt.  The fortunate thing was that his wife was on board with becoming debt-free and building a financially independent life.   Brandon suggests, that if at all possible, do not enter a marriage with debt.  At the very least make sure you and your potential spouse are on the same page.  He and his wife worked very hard to become debt-free and invested consistently over the years to become financially free.  Last year, Brandon began feeling a pain in his shoulder that would not go away.  Eventually, he went to the emergency room after some convincing from his wife.  It was a very good thing his wife insisted he go because he passed out in the hospital and it was soon discovered he had a 99% blockage in his arteries.  The blockage was serious, it is commonly referred to as the "widowmaker."  Brandon underwent surgery pretty quickly and thankfully made a full recovery.   Having two significant life-threatening health events, helped Brandon and his wife to understand the importance of having their affairs in order.   It has also given them an appreciation for life and the desire to experience time with their family.  Brandon spent a little time after his surgery getting his coworkers prepared for his departure and after about six months he was able to retire at age 49 - one year prior to a life long dream of retiring by 50. What Bradon savors now are the special moments he is able to spend with his children and grandchildren. He appreciates the importance of being able to spend time with his family.   Financial freedom has given him the ability to spend whatever time he has left with the people that matter the most.  BRANDON ON THE FINAL QUESTIONS:  Lessons he wants his children to carry over into adulthood:  Take risks now while you are young. Be all in.   Time is on your side.  Money lessons from his own childhood that he has carried over into his Financial Independence Journey:  He did not have good financial education growing up. However, he did learn that ignoring finances will not make things better.   Favorite Reads:  Automatic Millionnaire - David Bach The Millionaire Next Door - Thomas Stanley   Where can you find Brandon:   beyondtherut.com    

In this episode, we update listeners on how the sale of our home has added $2800.00 back into our budget and payoff all our consumer debt.  The decision to sell the house was difficult but after much thought and running the numbers, it was the one decision that could super-charge our progress and help us achieve our long term financial goals.  With the proceeds from the sale, we paid off all of our consumer debt.  This included our cars and all of our credit accounts.  The only debt that remains is our student loan debt.  Added back into our budget: $1700.00 The other big decision that came from selling the house was the decision to rent instead of purchasing another home.  Not only would we be paying  $790.00 less in rent, but we would also save on energy costs since the rental has solar and a whole house fan.  Added back into our budget: $1110.00 What remains in a fairly good chunk in our savings account.   Next Steps For this next phase of our journey, we are focusing on two things:  1. Purchasing investment properties that cash flow, and  2. Increasing Wendy's income.  WHAT WE HAVE ACCOMPLISHED IN TWO YEARS In the two years since discovering the FIRE (Financial Independence Retire Early) community, we have eliminated $10,000.00 from our monthly budget.  This has not only helped us increase our savings rate and pay off debt, but it has also allowed me to quit my law practice and be home with my kids.  Giving them the best of us and being able to leave them a legacy is what matters the most.  We are so grateful to this community for giving us hope.   If we can help you on your journey to become Financially Independent, we have several resources to help you.  RESOURCES 7-Step Money Foundations FREE e-mail Course Our no-nonsense workbook, Shut-Up and Budget Downloadable and Printable Workbook, Budgeting Sheets and Saving/Debt Payoff Trackers Our Private Facebook Group    

On this week's show, we have a wonderful conversation with Alan and Katie Donegan, who have reached Financial Independence and are now doing work that brings them happiness and fulfillment.  Alan and Katie tell us steps you can take to find that happiness for yourself. Discovering the FIRE movement….. Alan and Katie initially thought they would achieve financial independence through real estate investments.  They read Rich Dad Poor Dad and began purchasing real estate.   As Alan became more involved in this own personal development, he read  Tony Robbins, Money - Master the Game.  This book introduced to him index investing.  When he mentioned his investment plans to a friend, he introduced him to Mr. Money Mustache and, JL Collins, The Simple Path to Wealth.    Coming together to share a passion for FIRE….   Alan was always more open and entrepreneurial - able to try unchartered ideas.  Whereas Katie needed to learn, digest and understand before coming fully on board with the FIRE concepts.    Likewise, Wendy identified with Katie’s desire to thoroughly dive into learning about new concepts.  Curtis, on the otherhand, is more hands-on and learns by experiencing and doing.    DESIGNING A HAPPY AND FULFILLING LIFE Alan suggests conducting Mini-Experiments.  Try things out before you dive in 100% then it is not really a risk.   SUNSHINE - AVACADOS - AND CREATIVE PROJECTS Now that they have freedom, do they ever worry about wasting time and not doing anything?  Alan says the more scary thing is unlimited choice.  For them - they chose to pursue creative endeavors.  To them, these did not feel like work. They say - "if in doubt - go to L.A."  They find the creative energy and sunshine in Southern California has been very satisfying.    The solution to being overwhelmed by choice once you have reached Financial Independence is to understand, there’s more to be done than you can ever do and it's deciding what’s important and trying some balance of having fun.    The traditional mindset - Work is Work and relaxing is relaxing. For Alan, work is fun.  Now all of their work is projects that they want to do.    HOW DOES FIRE CHANGE THE RELATIONSHIP   It has forced them to confront things. Now there is no distraction - to avoid conflict.  It's learning to communicate better.    Alan gives some great advice - Put your thinking on the outside.  CONDUCTING MINI - EXPERIMENTS   Lots of people view entrepreneurship as a risk.    Alan likes to conduct low-risk experiments instead.    For instance - set up a website, sell a service.  If it sells, you have a business.    If you have an idea - what’s the ZERO financial risk version, ask people to buy and do the experiment to get a result.    What about being perceived as flighty - or as someone who cannot commit to one thing?  Alan suggests changing the language to experiment.    If you endlessly plan without starting - you are going to be stuck forever   With an experiment - you are looking to see the result.  It doesn’t matter whether it is successful or not   It makes failure more palatable - more an UNsuccess.    Getting Your Partner on the Same Page   On subjects that are important - you have to go on the journey together. Go to conferences together. Read books together.    ALAN AND KATIE ON THE FINAL QUESTIONS:    Katie’s one lesson from childhood she has carried over into her FIRE journey, don’t spend everything you have and to pay of your credit cards in full every month.    Alan learned from his father what was possible in business - but also what NOT to do.     Favorite Life Hack:    Being on the same page about projects, creating an action list, doing the action, then coming back after the step is complete.  This has helped their relationship but also their productivity.    FAvorite Read    Katie   Miracle Morning    Six habits to make your life better:    Silence Affirmations Visualization Exercise Reading  Scribing/journaling    Alan    4 Hour Work Week    Simple Path to Wealth    Quit Like a Millionaire  WHERE TO FIND ALAN    Pop-Up Business School  alandonegan.com 

Hello House of FI Family!  As you know we are on the move this week and beginning a new adventure as renters again. So, we are taking a week off. But, don't go anywhere!  We are excited to come back next week as we celebrate our One Year Anniversary!  Woo Hoo!  In the meantime, we have several great episodes to go back and listen to - or if you have not, to give them a try.  Episode 32 with Curtis and I as we discussed his journey from Reluctant to Spouse to On Fire Fully Committed FIRE-walker.  Episode 39 with Tim and Amy Rutherford who travel the world just about FREE! And finally, get some inspiration on your journey in Episode 41 with Patrick Aime.  He is an immigrant - lost it all - and is now living the FI - life.  This conversation was a lot of fun.  Patrick is the nicest guy you'll ever meet.    HAVE A WONDERFUL WEEK!  WE WILL SEE YOU BACK HERE NEXT WEDNESDAY! 

In today's Bonus show, we hear again from Chelsea Brennan of Smart Money Mamas and about the Mamas Talk Money Summit coming on October.  To stay in the loop about the summit, you can get on the waitlist for the here.  It's going to be an AMAZING event, so keep yourself informed about it!  WE HAVE SOME AWESOME NEWS!  We hit a HUGE milestone..... WE CELEBRATED 100,000 DOWNLOADS!   ....and we want to say Thank you!  We could not have hit this milestone without all of YOU.  So to all of our listeners and guests - you get a huge sloppy hug from both Curt and I.  KNOW YOUR WHY!  The road to FIRE can be long.  There will be hiccups.  That's why it is so important to Know Your Why.... Why are you on this journey?  Where do you want to be in five years?  You can sit down and go through the process of finding your WHY in our FREE course, HERE.  AND ANNOUNCING OUR NEW ETSY STORE.... In our ETSY store, we have additional resources available to you to help you on this FIRE journey.  The materials complement the 7-Step Money Challenge as well as our book, Shut Up and Budget.  Check it out HERE. 

The Myth of the Modern-day Superparent. No BECKY, you cannot do it all.  Today on the show we have an in-depth panel discussion between three busy ladies who tackle the question of how do we have it all? Is it even possible?   Likely possible - but not without some collateral damage.  WHAT ARE YOUR PRIORITIES The first key to finding a balance is to first know what your priorities are as well as having an understanding that there are going to be "seasons" to each priority you may have in your life.  Also key is to make sure these priorities are communicated and there is an agreement reached between you and your spouse and/or your partner.   For single parents - these questions are still worth considering so that you can set expectations and allowances for yourself as you navigate through the important areas in your life.  Becoming clear about expectations was not easy.  It was a process for Carla.  She and her husband had to realize when things were not working.  This allowed them to come together and to figure out what could be negotiated and to set deadlines for when the chaos will end. WHAT IF THE ROLES WHERE REVERSED? It is important to recognize and be aware of our own biases and gender-stereotypes.  As more women are tackling balancing careers and motherhood and the idea that we can do it all - it is worth noting that our male counterparts don't always have the same societal demands.   For instance, how are these two situations looked upon differently?  A male executive who must travel often for work versus a female.  For the male, his absence may simply be perceived as "he is working hard to provide for his family."  On the other hand, the female may be seen as over-extending herself and neglecting her family.  Of course, this is not always the case, but it is important to note that these biases are still prevalent.  At the same time, we also need to cut our stay-at-home dads some slack when they are carrying a bigger load in the household. An imprudent response would be to simply state they should, "deal with it" since traditionally, women have been bearing that load for generations.   Instead, if our spouse or partner has concerns or needs that are being neglected because we are being pulled in several different directions, it behooves the relationship to meet them halfway and come together to find common ground.   SELF-CARE Self-care is a tough one when you are the breadwinner or if you spend a lot of time on a "passion projects." Sometimes, because we find so much value in our identities in these areas, we feel guilty taking additional time to exercise true self-care (like exercise, for instance).  Figure out what fills you up and renews your mind.  Taking this time allows you to be a better parent, spouse, partner, friend and worker.  One way to make sure you take this time out for yourself is to build it into your schedule.  WHAT DOES THIS MEAN FOR SINGLE PARENTS That depends somewhat upon what is being defined as a single parent.  For a parent who shares custody.  The time that their ex has their parenting time with the children can be used to focus on work.  For parents without the support of another parent, it becomes very important to lean on community; outsourcing, using family and friends to fill in the gap, childcare swaps.  It's OK to be vulnerable enough to ask for help and lean on each other.   Don't forget local community groups and work-play cafes.  It is also worth checking out your employer resources - see all of the benefits your employer offers.  You may be surprised.  Since it is so hard to ask...don't wait for someone to ask for help.  Be aware.  Make gestures before being asked.  AN EXERCISE IN PERCEPTION There is so much invisible work done on both sides.  A great exercise to help each other see things from another perspective is to write down individually all the work that you do and then swap and compare.  SOME THINGS ARE WORTH EXCHANGING TIME FOR MONEY For Carla, it was hiring someone to clean her toilets.  She eventually realized she COULD do it herself, but it would take away time she had with her son.   Sometimes it means extending your FIRE timeline so that you can buy back time and experiences for your family.  That's the choice both Wendy and Chelsea made.  Sacrificing a few years to get to FIRE but getting back time with their children CARLA AND CHELSEA ON THE FINAL QUESTIONS Biggest money lessons: Carla - The importance of saving. Chelsea - It's not how much you make, but how much you save. Lessons to pass on to their children: Carla - Knowing the rules of the game, money management, tax codes and run a business. If you have the knowledge you can create the future you want. Chelsea - They get to define what success looks like for them.   WHERE CAN YOU FIND CARLA AND CHELSEA Carla can be found at wealthworhtwithin.com    Chelsea is at smartmoneymamas.com       

This week we focus on one of the steps in our 7-Step Money Foundations Course - we are talking about your fully-funded emergency fund. We cover these steps in both our FREE online course as well as our new workbook, Shut Up and Budget.   On today's show, we are just going to hit some of the high points. YOUR SAFETY NET One of the most important steps in laying a proper money foundation is to have safety nets.  YOUR FULLY FUNDED EMERGENCY FUND IS YOUR SAFETY NET.  So what is a fully-funded emergency fund?   A fully-funded emergency fund is, at a minimum, 3-6 months worth of living expenses.  Notice we said EXPENSES.  Not income. It is how much it takes for you to support your 4 walls in one month.  What you need to live on.  3-6 months is just a ballpark and, my recommendation, if you are self-employed or expecting a lay-off or your income in sporadic - is to have 12-24 months saved.  This fund is for TRUE emergencies: Job loss Illness Natural disaster   It is not for your family cruise to Cabo San Lucas or your daughter’s wedding…. WHICH ONLINE BANK ACCOUNTS ARE THE BEST So where do you park this money?   The accounts should be accessible - not too accessible. Lots of banks out there right now are advertising “high-yield” savings accounts.  The interest given is typically over 2.%   Curt and I decided to see if we could find the one with the highest interest rate and the best overall features…. OUR TOP PICKS  Curt’s Pick:  Discover Online Savings Account Rate offered: 2.05% Balance Required: $25,000.00 for $200.00 bonus                             $15,000.00 for $150.00 bonus (Bonus credited in Sept 2019 and you must have the balance in the account when it credits)  No monthly fee For Comparision:  Interest earned on $25,000.00 at one year $517.34 + $200 = $717.34   Wendy’s Pick   Wealth Front Online Banking Interest Rate: 2.57% Int  No fees  $1.00 minimum to open   For Comparison:  Interest earned on $25,000.00 after one year = $650.12 YOU CAN FIND OUT MORE HERE:  BANKRATE NERD WALLET   RESOURCES:  7-Step Money Challenge  Book - Shut-up and Budget  Etsy Store - downloads and printables.  Workbooks, worksheets, budgets, debt and savings trackers….based on our 7-steps and a great companion to the book.  NEXT WEEK - WE HAVE A SPECIAL SHOW!!!    Join our Round table discussion with Chelsea Brennen of Smart Money Mamas and Carla Titus from Wealthworthwithin…..it's awesome conversation about balancing it all as we journey to Financial Independence.

This week we speak with Tarra "Madam Money" Jackson, author of The Four Financial Languages.  Do you know what your money language is?  Tarra describes that we all have a financial language.  It's important to know what they are to communicate with each other.  The dominant languages are below.   How do you know which one you are? Saving - do you get anxious when your bank account gets below a certain dollar amount? Spending - are you chasing after a deal or get a rush after a purchase? Investing - do you chase the return on the investment? Giving - is your sole purpose in life to help other people?    Each language has its own dialect, triggers, and pleasure principles.    1. It's very important to first know your own dominant financial language.  2. Then, learn the financial language of your partner. If you are having difficulty in communicating about money in your relationship, it may be that you are both speaking a different language.  That miscommunication will continue until you learn to speak and understand each other's money language.  For example, don't use the word "budget" with a Spender.  Call it a Spending Plan, because that is what they enjoy doing is spending. The word "budget" however, communicates control and can influence a negative reaction. Use words that will serve you in the conversations you are having with your significant other.  The goal is to eventually be multi-lingual.  In thinking about our future selves, we need to learn the languages that will serve our future selves.  Tarra provides the example of her future self (whom she has named Juanita). She doesn't want 70-year old Juanita to have to work.  If that is true, then she will need to learn the language of investing, because saving alone will not provide Juanita with the life she wants her to have.  BIG IDEA:  Immerse yourself in the Financial Independence community if you want to learn how to become Financially Independent.    Three Steps to Overcome Fears as You Are Moving Into a New Financial Culture:  Educate Yourself  Execute In Small Increments (the scariest is the first time)  Elevate or Expand ...and Bonus Step (Thank you Curtis!) - Enjoy it! OUR FAVORITE QUOTE FROM THIS EPISODE: Retirement is no longer an age, it is a dollar amount.  TARRA ON THE FINAL QUESTIONS:  One money lesson from childhood that has carried over into her FIRE journey:  Saving change in a jar and when it fills up, taking it to the bank.  One money lesson she wants to pass on to her son: Save early TARRA'S FAVORITE READS:  The Secret The Law of Attraction  - the reality that what we give comes back to us.  Be careful with our words and thoughts.  Want to learn more about your Financial Language or find where Tarra is next? YOU CAN FIND TARRA HERE  

In this episode, we recap Wednesday's show with Rob and Melissa, Flee Market Flippers, who turned a FREE chair into $115,000.00 in inventory.  You can do the same on a much smaller scale and infuse your budget with quick cash.  It does not take a whole lot of effort or money to get started.  In fact, a man in Canada turned a red paperclip into a house.  How amazing it that?  Be sure to tune in to next Wednesday's show.  We will be speaking with Tarra Jackson, Ms. Madam Money.  We talk about our money languages and why knowing your money language helps your relationships with your loved ones

In today's show we talk to Rob and Melissa of Flea Market Flipper! Rob and Melissa have turned flipping items into an $85,000 a year full-time business that allows them to live a life of freedom.  They share with us several of their rules for how they decide what to buy to maximize their profits.  1. They typically only spend $20-$50 on an item.  2. If it is a bigger item, it needs to have a large profit margin.  3. Rob does not travel more than 2 hours to pick up an item.  4. They do not gamble.  They research their potential purchases and have a really good idea of what they can get for an item before they buy it.  5. They try to sell higher profit items.  This means they have to sell less to make more money.   6. They have built relationships with others who often bring THEM the deals.  7. They have learned the ins and outs of shipping.  ROB AND MELISSA'S BIG GOAL!  Rob and Melissa have a huge goal of flipping items to earn enough money to buy a rental property.  They began this challenge with one FREE accent chair.  They have sold and flipped this one chair into a current inventory of $115,000.00.   This is inventory and profits over and above the profit for their business.  THEY TEACH OTHERS TO DO THE SAME Rob and Melissa want to help others do the same.  If you are interested in flipping property for profit, you can sign up on their website HERE.  They also have a FREE eBay book as well to help you get started.    ROB AND MELISSA ON THE FINAL QUESTIONS  1. The one thing they have learned about money from growing up is the value in hard work.  You can always work hard to get ahead.  2. The one lesson they want to teach their children is that money is a tool.    FAVORITE READ The One Thing  and I Will Teach You to Be Rich 

In this episode, we take on one of the epic battles of the financial world, who is better - Vanguard or Fidelity. Listener, Tracie, wanted to know why we only hear all the hype about Vanguard and not Fidelity.   Tracie writes: "I see many podcasts touting Vanguard index funds, but nobody seems to talk about Fidelity no-cost funds. Perhaps you can share your thoughts on that. I recently moved from a managed account to managing my own money again through Fidelity and they've done right by me. My previous custodian charged me management fees plus annual account fees for years. When I closed my account, they charged me $100 account closure fees (x 6 accounts) plus $50 in some other fee. Fidelity reimbursed me for the account closure fees and I've been doing well managing my own stuff. I can sit down in person with my advisor whenever I want to at our local branch as well. Everyone talks about how great Vanguard is...just think they should also consider fidelity...in case there is something I'm missing? I'd love to know your thoughts on the no-cost funds by Fidelity." First, let me just say, $600.00 in fees to close your accounts?!?!?  THAT'S CRIMINAL TO ME.  Not a fee in my book, but a clear penalty - let's be real. Shame on them. And KUDOS to Fidelity to reimbursing you those to you, when they really didn't have to.  That's how you build some brand loyalty - FOR SURE. But what you say is true Tracie, there does seem to be a bias; and, as satisfied Vanguard account holders, I am sure we have done our part to perpetuate that bias. We opened our very first index funds with Vanguard shortly after discovering the FIRE movement and after reading JL Collins book, The Simple Path to Wealth, which we will link to below. We had heard the words "Index Funds" before but really had no idea what they were or why they were so trusted by this community. And if you are new to your journey and want to get a good overview, Jim's book is a great place to begin or you can take a look at one of his many posts on the subject, HERE. So let's tackle the questions of which is better and see if Vanguard is deserving of all of the hype or not....   FEATURES AND BENEFITS VANGUARD FIDELITY WINNER ANNUAL FEE $20.00 $0.00 Fidelity TRADING FEES STOCKS $7  (tiered based upon dollar amount) $4.95 Fidelity TRADING FEES OPTIONS $7 (tiered) + $1 Per Contract $4.95 + $.65 Per Contract Fidelity TRADING FEES ETFS $0.00 $4.95 (But some $0.00) Vanguard TRADING FEES MUTUAL FUNDS $20.00/$8.00/$0.00 (tiered) $0.00 on Fidelity, $49.95 on Non-Fidelity Tie CUSTOMER SERVICE M-F 8:00AM - 10:00PM EST 24/7 Phone and Live Chat, 140 branch offices Fidelity FINANCIAL ADVISORS Balances over $50,000.00 Managed Accounts Vanguard INITIAL INVESTMENT $3000.00 $0.00 Fidelity CHECKING ACCOUNTS NO YES Fidelity PLATFORM  NOT USER-FRIENDLY VERY USER-FRIENDLY Fidelity            If this were a boxing ring, the winner would be Fidelity after 10 rounds. But this is not a boxing match.  It's up to you to decide what is important to you.  For instance, we have been very happy with Vanguard; however, I have personally experienced the frustration of their outdated and cumbersome platform.  Had I known more about Fidelity when I opened my accounts, I might have opened them with Fidelity because usability and east of access to me are very important, all other things being equal.  Both Fidelity and Vanguard each offer the same investments (stocks, options, ETFs, mutual funds, etc.)  as well as the same options for accounts available (IRAs, 401(k), SEP, taxable and non-taxable accounts, etc.) so what it really boils down to is deciding what other benefits and features mean the most to you.  And the winner is... When putting it that way, Curt and I have to declare the real winner is....YOU!  You win with either. The most important thing is to just get started. Pick one and start growing your portfolio.  If you want to compare Fidelity and Vanguard yourself you can find them below... Fidelity  Vanguard        

In today's episode Robert Farrington, the College Investor, shares with us why he believes Parent Plus Loans are the worst student loans out there.   HOW ROBERT LIVES FRUGALLY IN SAN DIEGO But before we did a deep dive into all things student loans and paying for college, we learned a little more about Robert, his money story and how he and his wife are able to live a filling frugal life in one of the most expensive cities in the United States.  Some of the ways Robert and his wife save money is by only having one car.  A few years ago Robert's 10-year old car was on its last leg and looking at a few thousand dollars on repairs. So they decided to just go down to one car.  Robert owns his own business and so his wife often drops him off if he needs to go somewhere and if their schedules conflict, he will take an Uber.  Another way he and his wife save is that they live in a walkable neighborhood. They can walk to the store or many of the other places they need to frequent.  Robert says the best way they are able to live frugally is that they attack their goals as a team and recognizing each other's strengths.  His wife is the deal finder and the "nitty-gritty financial analyst.". Robert's strong suit is ways to make income and entrepreneurship. ALL THINGS STUDENT LOANS When it comes to student loans, the one area where Robert thinks there is a lot of misinformation is in the area of Student Loan Forgiveness.  What is so frustrating is to hear that "99% of people" get denied for forgiveness.  The truth, Robert says, is that the programs are working as they should be and the problem is that people are applying for forgiveness when they are ineligible or have not followed the rules to apply.  People only began becoming eligible in 2017.  In that year only 90 people qualified for forgiveness.  As each year passes, more and more people become eligible.  Robert estimates that by 2027, 400,000 people will be eligible to apply for forgiveness.  If you want to make sure you have done your paperwork correctly so that when it is your time to apply for the forgiveness, you can always check the status on your secure mailbox at the Fed Loan website.  Robert reminds us, "No one will care about your money more than you."  THE FIRST STEP IN GETTING OUT OF STUDENT LOAN DEBT The very first step Robert recommends to get out of debt, not just student loan debt, is to get organized. You must know where you are, what your balances are and what your monthly payments are.  Check your credit reports to make sure you have the current information for all of your loans. Make sure there are not any out there you have forgotten about or that are possibly going to an old address.  Then, he says studentloans.gov is a great resource to help figure out the best repayment options.  You can also check out his new site, loanbuddy.us as well.  PARENT PLUS LOANS Robert advises that parents should NEVER, Ever, ever (one last ever for emphasis) borrow money to pay for a child's education and that Parent Plus loans are the worst thing you could do.  Robert believes parent plus loans are the worst for many reasons but primarily because:  Parent Plus Loans do not have the same forgiveness or repayment options as other student loans.  Parent Plus Loans have no income-driven repayment option.  The parent is the one responsible for the loan and the student has no legal responsibility for them.  If in default, the government can garnish a parents social security.  If a parent is having difficulty repaying the Parent Plus Loan there is one, and only one option.  They can consolidate the loans into a new Direct Consolidation Loan and that opens up ONE Income-Driven Repayment Plan, the Income Contingent Repayment (ICR).  With an IRC plan, the borrower's payment is 20% of the discretionary income.  If the parent's income is extremely low, this could possibly be equal to zero.  If the parent is in default, they have one opportunity to get the loan out of default via the Student Loan Rehabilitation program.  This is only available one time.  The other option is for the parent to wait it out at 25 years when they will be forgiven - or upon death.  ROBERT'S RULE OF THUMB FOR BORROWING FOR COLLEGE Never borrow more than the total of your estimated first year of income.  For instance, if your first career upon graduation pays $40,000, you should borrow more than $10,000.00 per year for four years of college.  Student loans should remain the LAST option to pay for college.  Look into other methods first: Scholarships and Grants Local orgs and non-profits Parents/family savings  Self-pay/cashflow Work-study Then, once each of these are exhausted, student loans (keeping the first rule of thumb in mind.)  Robert also suggests if you have a special needs child, look into the 529(a) (529 Able plan).  APPLYING FOR SCHOLARSHIPS Robert says the biggest mistake young people make when applying for scholarships is by not following the instructions and/or completing the applications incorrectly.  So, if you are applying for scholarships, take care to make sure you have followed all of the instructions and perhaps have another person double check your application/essay.  ROBERT ON THE FINAL QUESTIONS:  Robert's Favorite Childhood Money Lesson - If you want something, find a way to earn the money to pay for it.  The Lesson He Wants to Pass on to His Children - How to save and how to earn.    ROBERT'S FAVORITE READ  Never Split the Difference by Chris Voss  WHERE TO FIND ROBERT  thecollegeinvestor.com       

We love having conversations with our listeners.  Every valuable lesson on this journey we have learned has come from the wisdom of others in this community.  In today's Friday Bonus Episode, Cathleen of Cooking Up Fire, gives us some practical ways she has been able to live frugally in paradise.  Take a peek at some of her tips!  Food and Grocery Lessons from Cathleen's Mother:  What foods are inexpensive What foods are a good buy and when to stock up on them  What food you can pair together to make delicious dishes Replant veggies with roots and grow them for food Spices are super helpful in making food  Cathleen only spends $100.00 a week for her family of three.  Her tips for keeping her food budget low while living in Hawaii:  She looks at sales BEFORE she meal plans (Wendy's additional tip - also shop your own pantry and freezer as well, before meal planning) Then meal plan!  Rules for buying "unnecessary items"  1. It has to be on sale or on clearance 2. Put all your necessary items on the belt first 3. Last, put the Then your extra nice to have, condiments etc. and watch the display.  Purchase what you want from this group until you reach the end of your spending allowance.  How she and her husband did not pay for college or take out student loans: Cathleen's husband paid for and received a vocational certification in HVAC.   Then he worked and cash-flowed his education at university. He never took out any student loans.  Cathleen utilized several tools, that combined, made her out of pocket expenses minimal.  She knew how much money her parents had saved for her education and avoided applying to schools she knew were outside of her price range.  She knew she had to have good grades and extra-curriculars so that she would qualify for scholarships.  She took advantage of work-study.  In her second year, she applied for an receive a scholarship that paid for the balance of her tuition. Another way she has reduced her expenses was to pay additional principle on her mortgage and then did a re-amortization with her lender.   All of these tactics combined allowed Cathleen to graduate without ever taking out any student loans. Cathleen on the Final Questions:  One lesson she learned as a child she has carried over into her FIRE journey:   Always comparison ship.  One lesson she wants to pass on to her children: To always educate yourself.  Libraries are MAGIC!  Where can you find Cathleen:  At her blog Cooking Up Fire We loved having Cathleen on and hope you enjoyed her tips.  She has written a companion article to the show, you can read that HERE.         

Would it change your life to earn an extra $40,000 a year on a side-hustle? Today's guest has the proof that you can do it and do it will working a full-time W-2 job. MAKING MONEY BLOGGING Julie believes that people can still make money blogging and wants to help other people do it.  She has figured out the secret sauce. She first began taking monetizing her blog seriously in July of 2016.  It took her about six months to get it right; learning it all by herself by doing Google searches and trial and error. Once she had it figured out, she started to make money, slowly but surely.  Things clicked in January of 2017; that month she made $793.00. She continued at it and by December of 2018, she hit her highest month - $7,000.00! WOW!  In two years - she went from $793.00 to $7,000.00 a month.  That is almost 1000% growth. Incredible.  She also believes that blogging and making money online does not need to be icky or spammy. Her philosophy is to create content that helps people.  Doing it this way - everyone wins. One of her very first money-making posts was her tips for a Themed Wedding on a budget.  One of her biggest saves at her own wedding was to order her flowers from 50flowers.  By doing this, she paid $300 vs. the $4000.00 she would have paid with a traditional florist. In her blog, she shares her Step-by-step portrayal of her $15,000.00 budget-themed wedding.  As Game of Thrones fans, Curtis and I thought this was really cool.  ETSY STORE One of the other ways Julie has succeeding in making passive income is through her Etsy Store.  Her first ideas were for bachelorette parties and she sold temporary tattoos for the bride and her party.   She would get the tattoos from temporarytatooes.com, then resell them on Etsy.  But that became a little cumbersome and so she wanted to try printables.   Printables are PDF files that can be duplicated over and over and be downloaded thousands of time.  Skills needed:  NONE!  She says she is not creative, artsy or into bachelorette parties!  She encourages anyone with a better idea, to do it! So, if you have some fun ideas, what are you waiting for?  To promote your shop, Julie shares two secrets:  1. You need to get your first purchase and five-star review, and  2. Go after specific keywords.    JULIE'S COURSES If you are interested in one of the three courses Julie and Cody, from Fly to FI, are offering, you can sign up for them below.... AND....if you sign up with our links, you will get our new workbook, Shut Up and Budget for FREE!  IF YOU ARE INTERESTED IN BLOGGING FOR PROFIT, CLICK HERE IF YOU ARE INTERESTED IN ETSY DIGITAL DOWNLOADS, CLICK HERE  IF YOU ARE INTERESTED IN FREELANCE TOOLKIT, CLICK HERE JULIE ON THE FINAL QUESTIONS:  Lessons she learned as a kid that she has carried over into FIRE journey.   Money is not finite.  It is an unlimited resource.  One money lesson she would like to pass on to her daughter:  She wants her to be resourceful and be someone who can get back up when she gets knocked down.    Favorite read:  Anything ocean-themed.  Sea books.    WHERE CAN YOU FIND JULIE:  On her podcast, The Fire Drill

What a great episode on Wednesday with Doc Green of What's Up Next Podcast.  Curt and I have both been mulling over some of the points Doc made. The big takeaways for Curt and I were: The importance of creating an environment for our children to be willing to take action and encounter risk. Also, that risk should be calculated but also you can minimize risk by doing mini-experiments to try out your idea first. We first learned of mini-experiments from Alan Donegan of Pop-up Business School.   Alan described mini-experiments as a way of trying something out without facing as much risk.  DON'T FORGET PLUTUS NOMINATIONS ARE OPEN UNTIL JUNE 30TH... We would love it if you would nominate our show for Best New Personal Finance Podcast of the year. CLICK HERE Our mission is to help all parents know that they can achieve financial freedom.  The more recognition the show receives, the wider audiences we can reach.  We appreciate your support.

In this episode, we dig deep with Doc Green of What's Up Next.  As someone who has reached Financial Independence, but who has also not fully retired, we wanted to know what keeps Doc continuing to work as a physician. What Doc found is that, for him, it boiled down to purpose, happiness, and identity. After a lot of deep thought, Doc says he decided to continue working part-time because he finds joy and fulfillment in his work. Not unlike many other professionals, Doc finds he is driven in a lot of ways by achievement; however, he acknowledges there is a dark side of the focusing on achievement. It can take over and encroach upon other areas of life that are important to you and that satisfaction can only last for so long.  On the positive side of things, his desire to achieve has helped him start businesses, become a professional as well as save and invest. When he finds himself venturing into those dark places, Doc tries to get really peaceful and listen to what he is feeling.  Since achieving Financial Independence, Doc has decided to structure his life in a way that includes those things that bring him joy but also drawing the line at not being so focused that these things overshadow the time he spends with his family.  BIG IDEA = achievement without joy and peacefulness, does not serve your purpose.  "Being lucky enough to be in a financially secure place does not mean your brain has caught up to this idea of being peaceful."  How do we teach our children?  Wisdom - Consequences - Modeling  As a kid, Doc watched his mom, who was an accountant and entrepreneur and his step-father who was an executive.  They were also both business owners and real estate investors.  He does not recall his parents sitting him down and teaching him about money or investing - but does remember watching his parents and modeling their behavior. He would go with his step-father to a property and watch as he repaved the driveway.  He also observed as they collected rent checks but also saw what happened when tenants did not pay.  Because of these experiences, he was exposed to business people, real estate investors and stealth wealth practitioners and able to learn much of what he knows about finances from them.  Finding the FI community put a name behind a lot of what he had already learned from his parents. In addition, watching his parents and being exposed to their financial endeavors - lessened the number of experiential failures he might have otherwise experienced.  From an early age, Doc had an entrepreneurial spirit. One of his entrepreneurial adventures was selling paintings.  In this venture, he made thousands of dollars in a secondary and tertiary artwork market. In spite of the success he experienced, he eventually lost interest and fell out of love with the artwork and also got too busy as a physician. That is not to say that all of Doc's business ventures were this successful.  As a boy, Doc started a baseball card business he was convinced was going to be the next big thing.  In the end, he lost money and only sold 3 out of 10 boxes.  Even so, he learned valuable skills from his baseball card business.   He learned how to buy inventory  He cold-called vendors to find product (one of the hardest things to do in sales) He also learned how to sell. Docs says that starting new businesses and trying new things was just part of his upbringing. Money Backgrounds Doc and his wife came from two entirely different money backgrounds.  Doc grew up in a fairly wealthy and privileged environment.  In contrast, his wife's family were immigrants and fleeing persecution in Iran where they had been quite wealthy.  In the process of finding safety, they lost just about everything they owned.  In the States, they did not have the financial stability they had had before.  As such, Doc's wife grew up in an atmosphere of extreme frugality and carefulness out of necessity.  Even so, as they came together as a marital unit, both ended up having a similar outlook about how to manage money.  We asked Doc how achieving Financial Independence had affected their outlook about money.   Doc was most surprised by about the stress achieving Financial Independence had created. However, not in the ways you might suspect. For him, the stress was wrapped around a crisis of identity - walking away from being a physician - something he had worked so hard and long to achieve was extremely difficult. He knew as a child he wanted to be a doctor so the thought of losing that identity was something he still struggles to consider.  For his wife - it is still a crisis.  A fear centered around not having enough.  She grew up to be a professional with the ability to support herself doing work that brings her meaning The ability to care for herself well as giving her the ability to never worry about money. So when Doc waltzed in and said, "Hey honey - we are financially independent and you don't have to work anymore." She was not as excited as he thought she was going to be.  He now realizes that was because she did not relate to the world in that way. She grew up with the idea that she needed to create financial stability and becoming a professional was the way to do that.   Doc believes, one of the benefits of becoming financially independent is the control it brings.  Whereas before you may have accepted that you have to work doing something you don't always enjoy, FI gives you control you otherwise would not have.  One of the beauties of becoming FI is that you can begin cutting out the parts of your work that you do not enjoy.  How FI has changed Doc's relationship with his children and his marriage.  He is now able to walk his kids to school, he is home when they are home, and he is no longer interrupted by phone calls when he is trying to enjoy time with his family.  He has become that "funny guy" he was when he and his wife first met. The "funny guy" is who he really is and the seriousness of life and stress took that away from him for a while. It's good to be that guy again.  DOC ON THE FINAL QUESTIONS: The one lesson he learned as a kid that he has brought into his FIRE journey.   Stealth wealth - watching his parents save and knowing he didn't have to spend everything he earned.  The one lesson he wants to pass on to his children. Money is a vehicle to do things you want to do - but is not a purpose unto itself.  Its a means to an end.  Favorite Read: White Coat Investor   

HAPPY FATHER'S DAY HOUSE OF FI FAMILY AND SPECIFICALLY OUR DADS!  In this episode, we hear Curt reflect on parenthood and how his perspective on parenting and his experience as a dad has changed over the year.  We wish all of our dad's a wonderful day celebrating with loved ones and filled with joy and happiness....and doing so frugally! Check back in next week for another wonderful conversation!  DON'T FORGET PLUTUS NOMINATIONS ARE OPEN UNTIL JUNE 30TH... We would love it if you would nominate our show for Best New Personal Finance Podcast of the year.   CLICK HERE Our mission is to help all parents know that they can achieve financial freedom.  The more recognition the show receives, the wider audiences we can reach.  We appreciate your support! 

This week on the show we speak with Lacey Langford. She is the founder of LaceyLangford.com a personal finance blog and a boutique financial coaching practice specializing in the unique world of the United States military. Lacey is also the founder and host of The Military Money Show, a podcast all about money and military. She's a U.S. Air Force Veteran, Milspouse, financial coach, speaker, and writer who changes people’s lives from being fearful of money to having control and confidence with it.  In today's episode, we wanted to focus on some of the common missteps she sees with young people entering the military and how she helps set them us for a secure financial future.  The most common mistakes she sees with young military personnel - lifestyle creep and overspending.  As well as not saving their money. She says - Cars are kryptonite!  We absolutely agree.  A major pitfall for young service members is getting into a car purchase right away.  Getting a vehicle with money that is not “cemented.” In spite of high interest rates and high payments.  Then, when they are no longer deployed they can no longer afford the payments.  It's a common problem and when she advises young services members avoid at all costs.  When Lacey is counseling military service members for the first time there are a few critical steps she discusses first.  She recommends: Create a  Financial Layout - know exactly how much money you have coming in (pay and allowances) and what is going out.  It’s simple but keeping it simple is the best way to go. That is the basic foundation of your financial success. You can then adjust from there. Create boundaries. You cannot have a blank check for everything. You don’t have to keep up with other people. You have to save your money and spend less than you earn.  You are saving for your current self and your 80-year-old self.   ____   Tips for young people wanting to enlist:   Score as high as possible on the ASVAB - it will create more job opportunities for you.  Have your job choice solidified before you enter.    ____ Some of the great resources available to service members:  Retirement benefits: Not only a pension after 20 years but a TSP (like a 401K) with up to a 5% match.   The benefit of contributing to TSP - get the match.  That is a 50% ROI right off the top. If you separate from the military, you can roll over the TSP account as a civilian. On deployment utilize the Savings Deposit Program - available after 30 days “n country/in theater” and will pay 10% Use all the services available: free trees, lending closets, taxes free, free financial counselors, Military One Source - they will find you free counselors in your area Take your installation tour! Valuable Intel.  They are pointing out where all of these resources are. ------ Lacey on the Final Questions: One money lesson from childhood = debt takes away your freedom One Lesson She Wants to Pass on To Her Children: Spend less than you make, but don't forget to invest it.  Sometimes in Life - You Have to Do Things Scared!    Where to Find Lacey:  Laceylangford.com    Favorite Read:  Take the Stairs - by Rory Vaden   WE NEED YOUR HELP! Plutus Nominations -  To nominate our show for the Best New Podcast of the Year, click here and enter “Houseoffi.com” in the Best New Podcast of the Year category. Click here: https://www.plutusawards.com/nominate/?new-postcast=houseoffi.com   HAVE YOU JOINED OUR PRIVATE FACEBOOK GROUP YET?  Join our Facebook Group - https://www.facebook.com/groups/261017321186778/

We found the FIRE community in early 2016.  And you all know how on fire we have been about FIRE ever since.  But...that does not mean it has been all unicorns and rainbows.   We've had quite a few rainclouds and donkeys make their appearances.  One of the things that keeps us from completely coming unglued and reverting back to old money behaviors is focusing on what is most important to us - filling our home with love and laughter.  This weekend we had the wonderful opportunity to attend the premiere of the documentary, Playing with Fire.  The movie follows the Reickens family over the course of one year as they pack up their lives, make radical financial moves and pursue FIRE.  Along the way they meet and have conversations with some of the experts in the FIRE community who share some of the tenents of Financial Independence as well as portions of their own stories.  Our biggest takeaways from the movie had really nothing to do with money, but really about two things.  The importance of communication and focusing on happiness.   Curtis and I decided to share our top ten things that make us happy, for the first time with you as well as each other.  Do you have any guesses as to what makes us the happiest?   Take some time right now to write down the 10 things that bring you joy.  Do you see a common theme?  What do they center around?  Are you living your life in a way that you are already living out what makes you happy?   These are all great questions to reflect upon and a good way to make sure that as you continue on your journey you focusing on happiness. It will even out the hills and valleys.  The documentary is very well done and besides taking viewers on a transparent FIRE journey of this family, it provides lots of good information about the heart of what this community is about.  We highly recommend you find a screening in your city.  And if there isn't one, guess what!?!  You can sign up to host one.  You can do that here.     

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 

WEEKLY WRAP-UP   On Wednesday’s show, we spoke with Latrina Walden.  She’s an amazing mom, professor, nurse and business owner.  When we asked her how she does it all, she says it takes a “good support system” and “GRIT!”  We believe that.   Curt and were greatly impacted by this episode for a couple of reasons.     First, we identified with the enormity and the heavy burden debt plays in our lives.  For a very long time, the debt left of feeling very hopeless and resolved that it would follow us to our graves.   Finding the Financial Independence community changed that and provided us a roadmap to financial freedom by spending less, saving more and increasing our incomes.   Latrina and her husband have done the same.  At the beginning of this year, she and her husband were underwater with over $560,000.00 in debt.  Having found the FIRE (Financial Independence Retire Early) community last year, they began to get intentional with reducing their spending and putting their incomes to better use saving and paying down their debt.   At the same time, a side business Latrina started began to take off and, what felt like overnight, exploded and quickly became an over six-figure business in just five months!     With the added income this business has brought into their household, they have been able to pay off about $360,000.00 in debt and are on track to pay off the remaining debt by the end of the year.  The business is expected to gross 1.5 million in 2019….INCREDIBLE!!!   Latrina (and Curt) both had an emotional moment talking about the change this business and the impact of becoming Financially Independent will have on their family.  Latrina’s business has changed their family tree.   Creating Generational Wealth, particularly for families of color, is just one more step in leveling the playing field for families.   Wealth cannot make anyone happy but the lack of it can sure make you unhappy.   OUR TAKEAWAYS AND ACTIONABLE STEPS   One of your biggest resources to paying off debt and creating wealth is your income.  If you can find a way to increase your income, you can accelerate your progress exponentially.   There is only so much you can cut your expenses.  Once you have exhausted that - you are left with how to bring in more income into your household.   Take action now!  Latrina and her husband didn’t wait for the business to grow to begin taking action.  They worked with what they already had. The business growing so quickly was an amazing bonus.   Starting a business does not have to be hard.  Latrina began with the two things she was good at.  Started small and grew it organically as customer needs grew.  All of her products are digital and she works with her customers remotely.  These keep her overhead extremely low.   Service type businesses are often the easiest to start.  On previous show we have talked to several people who perform services and have created successful businesses. We have linked below to just a few.   Clean Lots Loan Signing System Freelancer   OUR MONEY MISTAKES - WHAT WE WOULD DO DIFFERENTLY   This week we talked about businesses….   There are several things, looking back, I would have done differently when I started my businesses….   But since this is a Financial Independence Podcast, the one thing I would have done very differently had I to do it all over again, what had a year or two of expenses saved and not the three-six months typically suggested.   It can take quite a while to build up a business to profitability and having a much larger cushion would have alleviated a lot of stress.     I would also recommend this particularly is you work on commission or are in sales and your compensation is inconsistent.     It just gives you added peace of mind.   UPDATES ON SIDE-HUSTLES   May hasn’t been too bad… this month I have earned almost $800.00 with very little effort.   The fun part was finding those color-changing Starbucks cold cups and reselling them on eBay and Poshmark.  I found Poshmark’s fees to be a bit much so I will probably not use them anymore.   I also cashed in on a bank account bonus, that was my biggest haul, in the amount of $350.00!   All I had to do was open an account, keep it above $1000.00 for 90 days and have a minimum of 10 transactions in that time frame. EASY-PEASY And the bulk of the remainder was doing a couple loan signing and courses.     Not a bad month at all.   I didn’t donate any plasma this month, not for any particular reason - we just had stuff going on the mornings I usually go.   We have our garage sale on Saturday, so that will go into the June update.   OUR HOUSE   The most exciting thing to happen this week is WE SOLD OUR HOUSE!  Well, we have an offer. A full price offer in six days.   We agreed to an extended closing period so we will be in it until the end of July.     But we are really excited.  This was Step One in our plan to begin creating our rental property portfolio. HOUSEKEEPING   PLUTUS AWARDS   Plutus awards nominations open up on Saturday June 1st.  If you enjoy are show - one of the ways we can reach more people and help the achieve financial independence is with exposure.     We would appreciate a nomination as a show of your support of our show and the work we are doing.   We will link the website in the show notes.   PODCASTERSU   PodcastersU is open for enrollment!  If you have a podcast idea or a message you want to share with others?  You want to start but just don’t know how to even begin with the task….podcastersU was made with you in mind.   At podcastersU, you will learn everything you need to know to launch your show in six weeks!     You can sign up on the website.  Classes begin on June 6th, which is right around the corner.   ANOTHER MILESTONE!!!   Last week we reached 75,000 downloads which has blown our minds.  We have a big goal and that is to get to 200,000 by the end of the year.     So how can you help us get to that goal?  Share our show. Tell your friends. If you think what we say will resonate - let them know about us.   NEXT WEEK’S SHOW   Tune in to next week’s show!  Do you think there is no way you can reach FI on one salary or while living in a high cost of living area or while raising a family?  Well, then you are in for a treat. On Wednesday, we are speaking with PastorFI. He is just the nicest guy and a fixture in the FI community….and he has a really cool accent too!  

"Whatever it was, we were gonna stop talking about it and we were gonna do it!" Latrina Walden's money story is not unlike so many others in this country - Curtis and I included.  She was smart, driven, and had an entrepreneurial spirit, the only problem is she lacked a solid money foundation and was swimming in six-digit student loan debt. FINDING THE FIRE COMMUNITY She felt the burden and was ashamed by the amount of debt she was carrying and through a fortuitous conversation with an old friend and fellow FIRE community member, Naseema McElroy, Latrina found the FIRE community about a year ago.   And what a year it has been... Latrina is a busy wife, mother, professor and Nurse Practioner. She and her husband reside in Atlanta with their two children. After finding the FIRE community, she and her husband resolved to finally start telling their money where to go and implemented a budget. For them, it was never an issue of income, but one of not being intentional with the way they spent their money.  $500,000 IN NEGATIVE NET WORTH   The weight of the amount of their debt was a heavy burden and it sometimes made Latrina question whether or not she belonged in the FIRE community. Debt shame is a real thing. But instead of shrinking from the overwhelm of their situation, Latrina and her husband started making swift changes. They decided to stop talking about taking action and to just jump feet first by taking immediate control of their finances.  FIND WHAT YOU ARE GOOD AT Something incredible happened while they were going through this process, Latrina stumbled upon a new business.  She saw a need and stepped in to fill in.  She began offering tutoring services via the internet for nurses to prep for exams. She loves teaching and loves nursing and this business was a way for her to marry two of the things she was passionate about and REALLY good at.  To her surprise and amazement, the business took off organically mostly by word of mouth on Facebook.  In a matter of five months, her business has grown to a six-figure online business that has already paid off over $360,000.00 of their debt and will pay off the remainder of it, including their house by the end of the year.  And if that were not amazing enough, her business is on track to bring in 1.5 million dollars by the end of the year.  How incredible is that!   THE IMPACT OF CREATING GENERATIONAL WEALTH What makes the growth of her business so special, is not just because it will allow her family to be Financially Independent in their lifetime - but it will change her family tree.  The impact of building wealth on the lives of her children their legacy is far-reaching.   The thought of that is overwhelming - in a good way.  Latrina and her family recognize the wonderful blessing this business has been for them and have plans to begin a non-profit to help struggling nursing students as a way of showing gratitude for what they have been given. Good people.  LATRINA ON THE FINAL QUESTIONS What is One Money Lesson She Learned as a Child That She has Carried Over Into Her Financial Journey? Have a plan.  It's OK to blow up that plan, even if it fails. One day you will get it right.  One Money Lesson She Wants to Pass on to Her Children:  It's OK to talk about money!   WHERE CAN YOU FIND LATRINA waldenexamsolutions.com  And coming in July, 2019:  latrinawalden.com   Latrina's Favorite Read:  Becoming - By Michelle Obama

We all have money mistakes.  Some of us have more and bigger mistakes than others....(slowly raises our hands to both).   FAILING FORWARD John Maxwell has a wonderful book called Failing Forward.  What he emphasizes is one of the most valuable lessons one can learn in life and it is this... Failure in and of itself is not bad.  The most important thing is how you respond to failure.  You can learn from it and try again and get better or you can walk away and let it prevent you from growing.  Most of you know our money story and know we've made quite a few money mistakes.  The biggest one of them being student loan debt.  The stress and magnitude of our student loan debt has been a barrier, mentally, emotionally and financially for years.  The enormity of our debt was also one of the catalysts for us to seek out help and eventually find the financial independence community.  We now have hope.  Hope not just for ourselves - but for a different future for our children. We have had lots of time to think about the things we would have done differently and steps we will be taking to ensure our children do not follow in our footsteps when it comes to debt.  OUR MISTAKES:  1. Lack of knowledge and options about how to pay for school without debt.  2. Taking out more money than we needed.  3. Not aggressively paying them off immediately after graduation.  4. Not taking advantage of the Public Student Loan Forgiveness programs (PSLF) WHAT WE WOULD DO DIFFERENTLY AND WHAT WE ARE DOING DIFFERENTLY FOR OUR CHILDREN:  1. Talking with our children and educating ourselves about options with how to pay for college.  Scholarships Extra-curricular scholarships Military 2. Options for College.  Community College Clep Testing Trade Schools 3. Defraying Costs for College 529 Plans Stay at home! State College vs. Private Schools   Previous Episodes: Episode 31 with Travis Hornsby, The Student Loan Planner Episode 14 with Tinian Crawford, DIY2FI Episode 12 with Grumpus Maximus  BOOKS MENTIONED: Failing Forward, by John Maxwell      

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

Often we get questions from listeners behind the scenes.  This week, one of our listeners messaged us because she received an unexpected inheritance of about $29,000.00.  They still have some credit card debt and unpaid medical bills.  She wants to save some and also put some money away for her grandson's college.  They only have $400.00 in a small savings account.  Before I could begin there were a few things I wanted to know.   I wanted to know what the interest rates were on each of the debts.  I also wanted to know how much paying off the debt would free up in her budget.  We discussed the benefits of both the debt snowball and avalanche methods of paying off debt and why one might prefer one over the other.  DEBT SNOWBALL VS. AVALANCHE METHOD OF PAYING OFF DEBT In the debt snowball method, you pay off debts in order from smallest balance to largest.  This is to give you momentum quickly and helps overcome mental obstacles you might have when it comes to paying off debt.  In the avalanche method, you pay off debt in order of highest interest rate to smallest.  This looks purely with respect to the numbers.  The higher the interest the greater it costs you every month to carry that debt.  After getting some of these questions we suggested the following:  Step 1:  Put another $600.00 in a baby emergency fund to bring that balance up to $1,000.00.  Step 2:  Pay off all the debt.  This will leave a bit under $18,000.00  left of the original $29,000.00. This will also free up $600.00 a month that was going to debt service.  Step 3: Fund retirement accounts for this year.  Step 4:  From the $600.00 take a small amount, no more than $25-$50 and begin a 529 plan for her grandson.  Step 5: Take what's left and fund a 3-6 month emergency fund.  Step 6: If the 3-6 month emergency fund is not fully funded, take the rest of what is left from $600.00 a month that was going to debt service and fully fund the emergency fund.  Step 7: If the emergency fund IS fully funded at this point, then the 529 plan can be increased and begin funding after-tax investments. If you have a scenario, you would like our input - feel free to leave us a voicemail or send us an email at info@houseoffi.com.  ANNOUNCEMENTS! PodcastersU is UP!! Woohoo!  If you emailed me, you should have received an email - be on the lookout for it. In the email, you have a coupon code to enroll with a deep discount.  For anyone else interested, there will be another opportunity to enroll - stay tuned.  WE ARE SELLING OUR HOUSE! Read HERE why we are making such a big move.  PodcastersU is open! Listen for more details next week. 

Today we share another community member success story.  Jeff, grew up extremely poor.  It was not uncommon during his childhood for his family to worry about where they would be living, figuring out how to heat the house as well as meeting other essential needs.  HUMBLE BEGINNINGS Jeff's parents, who were factory workers, never had expectations for Jeff to attend college, there was an assumption he would enter factory work as well after high school.  However, it became clear very early to Jeff that the job was not for him.  He was miserable.  But he was also inquisitive and his search for information was the start of a journey that changed his family tree.  Jeff saw another gentleman at the plant who had a better paying, more skilled position that didn't involve standing at a machine for seven hours a day.  He inquired about how he could do that job and learned that the community college had certificate programs that partnered with his employer for an apprenticeship.  Unfortunately for him, there were not any open positions.  Jeff did not let that stop him.  He went ahead and began the certificate program and waited for his opportunity for an apprenticeship to open.  Because of his drive and dedication, it was not long before Jeff landed the job.   After he completed his apprenticeship, he made more money and had opportunities for advancement. He has been working in the field as an industrial mechanic ever since.  A LESSON IN INTEREST Jeff and his wife worked hard and eventually bought a home but at the time still knew very little about finances. After paying on his mortgage sometime, he looked at his balance and was extremely confused.  There had to be a mistake.  He knew he had paid much more than what was reflected as his balance.  Interest was the culprit.  Frustrated by his lack of knowledge he began to learn about interest and how it was calculated.  While on a business trip, Jeff noticed a book at the airport.  The title intrigued him, Life Without Debt. He dove into the book, reading it in four days.  THE SPARK  The experience with his mortgage combined with finding this book changed everything for Jeff and his family.  They dedicated themselves to frugal living, living within their means, and emulating people who lived on very little.  They purchased investment properties which enable them to purchase their forever home with a substantial down-payment.  By living on less, saving more and increasing their income, Jeff and his wife are now "lean-FI."  They have done so without every earning more than six-figures and with only one full-time income.  For those new to the FIRE community, there are a few stages used to describe where one is with respect to FI (Financial Independence) - all of which are based upon the Trinity Study.  You can read more about that HERE.  At it's most basic - it simply means you have saved twenty-five times your expected annual expenses at retirement.  Example:  If you believed you could live on $40,000.00 a year at retirement, you would need $1,000,000.00 saved to be financially independent.  40,000 x 25 = 1,000,000 FINANCIAL INDEPENDENCE IS FOR EVERYONE We hope that you are encouraged today by Jeff's story.  Our goal here is to educate others and show them that by making a few critical changes in your life with respect to your money, you CAN achieve Financial Independence.  If you need help or are just beginning your journey, we offer a FREE 7-Step Money Challenge that will help you build a solid foundation as you begin your journey.  JEFF ON THE FINAL QUESTIONS The one lesson about Jeff learned about money as a child that he has carried over into his FIRE journey is that money cannot make you happy, but a lack of it can sure make you miserable.  The one lesson he would like to pass to his children is to begin early. Live like a broke college student for as long as you can, don't let life-style creep happen.  FAVORITE READ Life Without Debt by Bob Hammond WHERE CAN YOU FIND JEFF  If you have questions for Jeff, you can reach him at FIGUY9112gmail.com  

If you have been in the FIRE movement for any amount of time, the sooner you realize this one fact, the better off you will be.  WE ARE WEIRD.  We are.  We - the collective we - the FIRE community - are weird.  We are going against the grain.  We are a counter-culture. People will not understand us.  We will be judged. Misunderstood.   And that's totally OK.   Let's all be weird together.  We are all in the same Arena.   Those who have never stepped foot in the arena, who are not willing to do things differently, will never reap the rewards either.  There are a few things you can do when you are feeling judged and rejected for your financial choices.  You don't need to share your journey with everyone.  Particularly those that will not understand or who are not ready to hear it.  Secondly, community is important.  Surround yourself with like-minded people.  Join a Facebook group. Join a local FI meetup.  You can join our group here.  Do you have a side hustle?  Please call in and let us know about it.  Finally, we have a seven-step money foundations course, it's FREE, and its to lay a solid financial foundation. 

Growing up in Rwanda without electricity, Patrick Aime, never felt he missed out on anything because he didn't know any better.  He recalls his childhood fondly.  After Patrick's father died when he was a baby he watched his mother work hard to increase her income as a single mom. As her income grew, so did the conveniences of life.  They acquired a TV when he was about 12 years old and no longer had to visit his "Rich Uncle's House" to watch American TV shows.  It was through these shows he had his first glimpse of what life was like in America.  It lit a spark within him to come to America and pursue the American Dream.  He describes his first win at the "life lottery" when he was able to finish high school in Belgium where he also played basketball.  Through basketball - he landed the opportunity to play basketball at the collegiate level in America.  Even though he was injured during his sophomore in college and would never realize a professional basketball career - he still felt as though he had won, because he had made it to America - just as he had dreamed as a boy.  After college, he eventually started his own business and became very successful selling luxury sports packages to corporations to entertain their high profile clients.  As his income grew, Patrick had some of the skills to manage his money - and he always knew not to spend more than he made - but he never saved - he simply spent everything he made.  The lifestyle inflation crept in and he began purchasing rental properties during the height of the market. Then the recession hit and he lost it all and had to file bankruptcy.  He describes what happened next as the real start of his financial journey.  He learned the importance of frugality and saving his money and the hard-learned principle that "cash is king."  Patrick reinvented himself and quickly rebuilt his career.  Though this time he kept his business small and reinvested his money in index funds as well as built up his emergency fund.  He has since purchased properties for all cash that cash-flow and bring in enough passive income to cover all of his living expenses.  He has completely changed how he handles his money and has recently celebrated becoming a member of the "double-comma club" reaching a million dollars in his investments.  Patrick's story is so inspiring and it is easy to see why he loves this country. Patrick believes that in the United States the same is possible for anyone.  His story is certainly a testament to this belief.  If you would like to reach and learn more about Patrick, you can find him at Frugal Safari.  Or on Twitter at @frugalsafari as well.   

How many of you are currently side-hustling or considering whether or not to side-hustle and wondering if it's even worth it or not? Well, today Curt and I hash out all of the side-hustles we are currently trying out.  We also share how much we have earned in March and April and discuss whether or not it has been a good use of our time.  We'll also tell you which ones are total duds and which ones we think are the best!  Here is a break down of our earning for March 2019: March Lyft  - $0 Uber Eats - $3.96 Instacart  - $106.40 Amazon Flex - $220.50 Doordash - $233.91 Loan signings/mobile notary - $285   Total March = $849.77   APRIL Amazon Flex: $54 Instacart: $56.13 Doordash: $22.99 Plasma: $245 (4 times) Curt Cans: $91 Total April = $446.15 (Did not work two weekends)   Not a pretty bad influx of cash to our budget for less than 30 hours worth of work, right?  It certainly helps evens out our income and stretches our budget in between real estate deals. SIDE-HUSTLE FAILS - THE BAD... Now to the nitty gritty.... Here are the ones I did not really care for and why:   Lyft and regular Uber - Believe it or not I (Wendy) am a total introvert and too much "peopling" can really drain me, so I would really rather not have people in my car and have to try to strike up a conversation.  I learned pretty quickly that it was not for me. Uber Eats: I have found I make more money with Doordash.  I made a whopping $4 the one Uber Eats delivery I did and so I haven't tried that one since.  Amazon Flex:  You can make pretty decent money with Amazon, I just found it was a PAIN IN MY ASS!  The few delivery routes I had were a total nightmare and frustrating and so I have not done it for a few weeks.  I think I have a bit of left-over trauma.   THE GOOD.... The following are the side-hustles I like the most and why:  Doordash and Instacart - easy, in and out usually averaging about $14 an hour Able to stay around our neighborhood Dislike:  Both you have to schedule in advance and good shifts are taken by the people who do this all the time. So I have to get on it fast and hope there are busy times when they will open up more (on demand shifts).   Plasma Donation - This by far is my favorite. Can get up to about $420 a month. Only takes about 1.5 hours of my time. Sometimes just an hour. One of the better dollars per hour.   Clean, professional, very simple process after the first visit. Averaging about $50 an hour so far.   Another Big-ticket is Loan Signing: Getting about $80-95 dollars per signing through loan signing services. Can make more an hour ($175-$200) if you are able to build up relationships with escrow offices/mortgage companies. I have not had one last more than an hour and some are as fast as 10 minutes - depends how many documents you have to notarize. If you are interested in becoming a loan signing agent, listen to Enrique Castro on Episode 30B  Dislike:  Takes a while to get paid and usually a paper check, about 45 business days…..Also a pain in the butt. ...But for the hourly - it awesome.  CURT HAS GOTTEN IN ON THE SIDE-HUSTLES Curt has his side hustle....he collects recycling.   He has a pretty awesome system.  Since he is a teacher and a coach and has access to the fields after events at the school.  He takes our boys and his trusty grippers and picks up the cans and bottles after everyone leaves.  He made $90 by basically walking around campus for 30 minutes or so after his shifts supervising events. Not bad!   WE HAVE A NEW SIDE-HUSTLE....   In May we will be trying a new side-hustle...flipping items for a profit.  We are on the lookout for free items on Offer-Up and then going to re-sell them at a garage sale. We found our first item, a nice sofa...it was FREE.  We hope to get at least $50 for it.  The goal for May doing the flipping is $500. We'll keep you posted to see how we do. IF YOU HAVE A SIDE-HUSTLE WE WANT TO KNOW!  If you have a side-hustle or an idea for one - go to the website and leave us a voicemail.  It’s super easy and there are instructions there on the side-hustle spotlight page…  

Curt and I are so excited to be speaking today with David Greene from Bigger Pockets.  In this episode, we talk about why David believes that Real Estate Investing is "every man's" (and women too!) vehicle to wealth.  He discusses who the essential team members he believes are necessary to help you build a successful investment portfolio as well as does a deep dive into explaining the BRRRR method of Real Estate Investing...Buy, Rehab, Rent, Refinance and Repeat.  David is a wealth of knowledge - this episode is essential if you are considering real estate as a potential means of building wealth.  His newest book, BRRRR, is releasing this month and can be pre-ordered. We will list the link for that below.   If you want to find David, you can find him on Bigger Pockets, as well as on his blog, greeneincome.com. He can also be found on Instagram @davidgreene24. 

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

I am sure we have all heard horror stories about someone being scammed by criminals hiding behind a computer screen on the Internet.   This week the issue was too close to home when my daughter was almost taken advantage of by a very sophisticated scam while looking for an apartment.  What really struck me was the effort the criminals took to appear legitimate.   We recently had several people present in our local Financial Independence meet-up about Internet Safety and one of the presenters was my friend Jason. He graciously agreed to come on today's show to explain some of the essential protections we can implement to keep our information and money secure on the Web.  Some of the key barriers he suggests implementing are below:     

On the show today we are getting tips from the Financially Savvy Accountant, Atiya Brown. With her is an extra special guest, her daughter Rayna.  Rayna is one Financially Savvy Kid!  She has absorbed all the money talks her parents have had with her and put them into a book to teach other children about savvy money habits.  Her book is called What Are the Money Rules.   ATIYA'S MONEY STORY Atiya did not grow up with much money.  She was the oldest of five children and after her father past away when she was young.  She watched her mom struggle to support her family.  Through a few experiences - Atiya began to have an awakening about how she was handling her money.  This became more apparent when she discovered that she and her husband were not on the same page about finances when they decided to buy a home.  She learned that unlike her husband, she had credit card debt.  She decided to make a change and paid off her credit card debt.   RAISING FINANCIALLY SAVVY KIDS Atiya decided she wanted things to be different for her children.  She and her husband decided to begin teaching her children all about money.  It began with having open conversations with them from when they were little.  From there, they also gave the children money jars to split all their money into four categories, save, spend, give and invest.  This knowledge laid the foundation for Rayna to write her book. Rayna decided to write a book to help her little brother learn all about the money rules.  She loved to play "school" with him and figured a book would be a good way to help him learn. Rayna has been sharing her book with other children who are so excited to read a book written by someone their age.   ATIYA ON THE FINAL QUESTIONS Her money lesson learned growing up:  To talk openly with your children about money.  Her favorite reads:  She has two.   Rich Dad Poor Dad  The Biblical Principles of Finance  Her Favorite Life Hack:  Ordering groceries online.  Wendy totally agrees with this one.  It's a great time and money saver! WHERE CAN YOU FIND ATIYA AND RAYNA Atiya can be found at,  https://thesavvyaccountant.co/ and on Facebook:  https://thesavvyaccountant.co/ and Rayna can be found at:  On Facebook: https://www.facebook.com/ourfinanciallysavvykids and you can learn more about her book:  https://www.whatarethemoneyrules.com/      

On today's episode, we are speaking with Brian Winch of CleanLots.com.  35 years ago, Brian began his "side-gig" and in about two months and $200 later he was earning enough money to leave his full-time job.  He has since grown into a full-time entrepreneur who runs a business that generates $650,000 a year in revenue....but not only that, he helps others do the same.  If you would like to learn more, you can find Brian at cleanlots.com.  He also has a book available to help you begin your commercial litter removal business today.  BRIAN ON THE FINAL QUESTIONS ONE LESSON HE LEARNED GROWING UP HE HAS CARRIED OVER INTO HIS FINANCIAL INDEPENDENCE JOURNEY To achieve what you want, you have to work for it.  Nothing worth having comes easy.    ONE LIFE HACK THAT HE HAS LEARNED THAT BRINGS HIM JOY OR HAS MADE HIS LIE EASIER Brian believes that your life becomes a lot easier once you understand that you cannot control what other people do, so it is pointless to get upset by things you cannot control.  Wendy totally agrees with this and teaches our children the same thing:  DON'T SWEAT THE SMALL STUFF, and  FOCUS ON THOSE THINGS IN LIFE YOU CAN CONTROL WHAT'S COMING UP.... We have some great guests coming up, so be on the lookout for our new episodes.   Coming up soon...  Grant Sabatier, of Millennial Money.  We will be talking to him about his new book Financial Freedom, and how he became a millionaire after hitting financial rock bottom and having to move back in with his parents.  David Greene, over at Bigger Pockets will also be joining us to talk ALL ABOUT real estate investing, how it changed his life and the BRRR strategy.  and several more as well as stories from our listeners who have reached FIRE and are on the journey, JUST LIKE YOU!  podcastersU We are entering the last few days of being able to let Wendy know you would like to join our podcastersU class coming soon.  If you want to start a podcast, but have been afraid or overwhelmed and just not sure where to begin, this course is for you!  We will be launching the Beta version of podcasterU in the next few weeks.  Priority registration will be given to those who have sent us a message at info@houseoffi.com with "podcstersU" in the subject line.  After that, this course will be offered to the general public and will be closed once all spots are filled.  Don't miss out on getting this course at a significant discount.     

Rebrand and revive your website to get more sales. We all want more sales for our business, right?  Liz Theresa is a business coach, content developer, and website designer and we are so happy to have her on the show.  She's the person who helps you create pretty websites that don't make your potential customers cringe - but also that convert and do what you want them to do - sell YOU!  In this episode, Liz explains why branding and website copy, or "language," is SO important.  We also discuss why if you are not making sales or converting - there are usually two reasons why, either it is the product or your messaging.  Liz works with her clients to make sure their brand and messaging are attracting the clients that WANT to pay for the product you are offering.  We also discuss when a person might want to hire a coach to help with their business and some of the important things to look for when you are looking for a website designer.  Lots of great information today as well as practical advice that's WICKED GOOD! Liz on the Final Questions:  Liz's Life Hacks Asking for Help  Returning Items She is Not Satisfied With  Liz's Favorite Read Wuthering Heights - Emily Bronte   Where Can You Find Liz If you want to learn more about Liz, you can find her at Liztheresa.com  She offers a FREE CLASS as well:  freecopyvideo.com And if you would like to listen to her podcast, you can find her on iTunes, Spotify and Google Play.  Liz on Biz   DON'T FORGET!  We will be starting our Podcasting Court, PodcastersU very soon.  If you want to be included in the Beta class, email us at info@houseoffi.com with "podcastersU" in the subject line.   Information will be going out this week on how to sign up.     

The journey to Financial Independence can seem insurmountable to some. We totally understand! It is worth repeating, over and over, to remind us that this is a marathon and not a sprint.  What helps along the way is to know that you are not alone.  One of our listeners, Maria Palacio, was gracious enough to take time to share the progress she and her husband have made on their journey.  Maria shares how she found the fire movement, mistakes along the way, changes they made and getting her husband on board.  She also discusses asking for help and how she decided to work with Ericka Young of Tailor Made Budgets.  You can hear more about Erica in Episode 11 Also discussed in this episode:  Wendy's ALDI Challenge is a four-week challenge to plan seven dinners for eight people for $75 or under. You can begin with week one HERE.   

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.     

One of the challenges, especially for larger families, is creating experiences that do not cost a lot of money.  Team Mays has gotten pretty good at figuring out FUN ways to spend time with our kids and not deplete our wallets.  On today's episode, we have two VERY special guests with us to discuss ideas for things to do with your kids that are FREE.  Some of the FREE activities that we have done in our family are:  "Drive-In" Movies - get a white sheet and a projector and invite the neighbors over.   Hiking Smore's on the beach  Scavenger Hunts Free Days at Local Museums  Picnics Dance Parties Game Night  Epic Rap Battles Karaoke Volunteering/Serving together Our listeners provided several others:  Tea Parties Cook and/or Bake Together Off-grid Camping  This was so much FUN brainstorming ideas together!  I am sure we have missed quite a bit too.  If you have more ideas...head on over to our Private Facebook Group and let us know your ideas.  Maybe we will use them on an upcoming show!       

If there is one message Deanna Broaddus, who authors the blog Ms. Fiology, would like you to hear today, it is this.... IT IS NEVER TOO LATE! And Deanna speaks from experience.  HER ADDICTION Today Deanna shares her journey through addiction from a young girl experimenting with alcohol and how that evolved into drinking and drugging well into her 30's.  As a high functioning addict - it was not until the secret she had been hiding came to the forefront, that she eventually made the decision to seek help and, once and for all, fully address the root of her struggle with alcohol and drug.  THE TRANSITION After recovery, Deanna's next battle was to tackle was her debt. She was not sure what to do and found herself very overwhelmed. She drew upon her experience from recovery and began attacking her debt very strategically.   In 3.5 years she was able to pay off $47,000.00. She did this by doing something a lot of people in the forties would not do....she moved back in with her parents.  It was a humbling experience - but it also allowed her to attack her debt fiercely, she was putting 90% of her income towards debt, and because of this BIG MOVE - she reached her goal of debt freedom 2017.    Deanna's Key Components to Getting Out of Debt Budget - Zero-based Budget Accountability Method for paying off (Snowball/vs. Avalanche) Intensity The Importance of Community Deanna also credits her sobriety and her debt-freedom journey to Community.  She suggests that anyone new to Financial Independence seek out community.  Seek people and/or groups out.   Facebook.   Local Meet-ups. Podcasts. Blogs. Books. FIRE community! Why Community?  It’s important to surround yourself with like-minded people. They provide you with encouragement as well as get advice and tips. Deanna's Components to Success Community Accountability Having a Plan DEANNA ON THE FINAL QUESTIONS One money lesson (good or bad) learn growing up that she has carried over into her FIRE journey: Money equals freedom. Money is a tool that if used wisely it can help people and give freedom.  Deanna's Favorite Life Hack:    Time Blocking.  Time blocking allows her to tackle tasks and not allow them to over-take her schedule.  Recommended and Favorite Reads: The Wealthy Gardner, John Sevoric The Profit Dare, Tim Kaiser Simple Path to Wealth, JL Collins

This weeks Side-hustle spotlight was such a treat. I am sharing with you my friend and neighbor, Kristen Savee. Kristen is a military Momma of five...you saw that correctly...And she is killing her side-hustle.   She didn't always have a side-hustle, however.  Kristen initially worked in corporate America for a large restaurant chain, but after the birth of her first two children, she felt the pull and stress of balancing being a mom and moving every few years. BUILDING A HOME-BASED BUSINESS   She began strategically searching for a business she could build and stay at home with her children. She wanted a business with unlimited potential - but that also that appealed to most demographics.  She found Scentsy.   The catch was - at the time she could not afford the $99 it took to begin her Scentsy business.  So she saved whatever she could, a few dollars here and a few dollars there - until she raised the $99 to start.  Since beginning as an Independent Scentsy Consultant, Kristen has built her business and is on track to meet her goal of earning $2500 a month for 12 consecutive months.   This will be a huge accomplishment for her and will also put her on track to receive a large bonus at the end of the year and placer her among an elite group of people who have been able to make the same achievement.  KEYS TO BUILDING HER DIRECT SALES BUSINESS Kristen shares several tips that have helped her grow her business.  Realize and go after SMART goals - this is not a business you will make a million dollars overnight.  Social Media is your friend - but just a post on your page is not going to bring you the business.  Focus on building relationships Don't be Spammy. No one likes that!  HUSTLE! Create dedicated times to work on your business around your family's schedule.   KRISTEN ON PARENTING FIVE CHILDREN     It takes A LOT to keep a household of five children functioning under ANY circumstances - but throw in the mix that your spouse is deployed often for long periods of time....Well, frankly, I don't know if I could do it.  Kristen has found several ways to keep her household and her sanity intact.  Chores - all of her children, even her four-year-old Addison has chores.  For instance, Addison knows how to vacuum as well as help sort with laundry.   Her 10-year old, Madeline, help Kristen bathe the baby each night and Austin and Bryson, her 11 and 7-year-old, do the dishes after dinner.  She says that one of the key things she has learned is that it is OK for kids to not do things EXACTLY how we might do them.  It's part of learning - but also allows them to grow and gain confidence.  Because her kids all pitch in - she is able to set aside time, just for them on the weekends, to do fun things and enjoy more time with them - which they love.  If you would like to hear how Kristen makes a weekly food budget of $175 work for her family - listen in to the episode above.   You will also hear how she has taught her children how to keep and balance their own checkbooks.  HOW COOL IS THAT? HOW TO REACH KRISTEN It was such an honor to share my friend with you.  I hope you all enjoyed her story and are inspired - not only by her HUSTLE - but how she manages her large family as a military Momma as well.  You can find Kristen on her website by clicking HERE.  or check her amazing family on Facebook, HERE.