Living Frugal is a Powerful FI Tool

• Liz from Frugalwoods coaches us through the ultimate guide to frugal living
• The benefits of minimalism and living frugal
• Frugalwoods family saving 70%+ of their income
• Their conscious decision in March 2014 to pursue financial independence
• Entirely possible to pursue living frugal anywhere including large metro cities. In fact these cities may have built in advantages like transportation
• What is the difference between someone who saves 70%+ and everyone else?
• First ask ‘where you want to be’
• Not a sacrifice but a reorientation of how you spend and your priorities
• The benefits of living frugal: happiness & joy
• How they actually moved forward in March 2014 with their newly ultra-frugal lifestyle
• How the Frugalwoods family saves on food & groceries
• Does it make sense to pay off your mortgage?
• How they spend nearly $0 on entertainment
• Bring your own food to work every day and save $20+ per day
• No car payments & buying used cars
• Buying nearly everything used
• No impulse buying – wait 72 hours after you want to make a purchase
• Embracing imperfection: why & how they cut each other’s hair
• living frugal can simplify and streamline life
• The Frugalwoods homestead in Vermont
• Educating yourself when making a major purchase
• You don’t need to spend money to be happy: frugal substitutions

Listen to Brad and Jonathan’s thoughts about this episode here.

Hot Seat Questions

• Favorite Life Hack
  • Hacking the soda stream

Links from the show:

• Frugalwoods
• Uber Frugal Month Challenge – sign up today
• How We Save 65% Annually by the Frugalwoods
• Craigslist
• 1500 Days
• Cait Flanders
• The Joy that Comes When Less is Enough by the Frugalwoods
• The Frugalwoods Sodastream Hack
• Frugalwoods on Twitter
• Frugalwoods on Facebook
• Frugalwoods on Instagram
• Choose FI Travel Rewards Podcast

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Thanks 

Jonathan & Brad