029R | The Friday Roundup

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Friday Roundup 029R
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Chase Sapphire Preferred Card​

ChooseFI’s top pick for travel rewards! The Chase Sapphire Preferred Card has a 60,000 point sign-up bonus (after spending $4,000 in the first 3 months). The points are ultra-flexible and transfer to 13 airlines and hotels. $95 annual fee.

ChooseFI Favorite: top rewards card for beginners

Chase Sapphire Preferred Card​

ChooseFI’s top pick for travel rewards! The Chase Sapphire Preferred Card has a 60,000 point sign-up bonus (after spending $4,000 in the first 3 months). The points are ultra-flexible and transfer to 13 airlines and hotels. $95 annual fee.

In today’s Friday Roundup we discuss our key takeaways from Episode 29: The Reluctant Frugalist vs. the Aspiring Minimalist, plus feedback from the audience as well as two of our in-house experts.

In Today’s Podcast we cover:

  • Friday Roundup after Episode 29 where we discussed the Reluctant Frugalist mindset versus the aspiring minimalist
  • How Jonathan used travel rewards points to book two round-trip flights to South Africa to visit his wife’s family. Only 128,000 points!
  • How to think through a travel rewards redemption and where to start
  • The essential nature of the psychology when considering financial independence
  • How to approach your spouse/significant other about FI and what to avoid – namely the word “retirement”
  • What is Brad willing to spend significant money on?
  • Email from Bo about a new term: A ‘Valuist’ and how this applies to Brad
  • Feedback from our Facebook group from Christopher about a ‘false dichotomy’
  • Feedback from Jessica – there are no rules of being a minimalist, it’s a journey and a mindset
  • Voicemail from Geoffrey about reducing stuff and choice with a cool challenge with your clothes
  • How the KonMari method tidying has transformed lives
  • How to have a conversation with friends and coworkers about FI when they know nothing about it
  • The difficulties of talking about FI at work and how to navigate that
  • Know your audience when discussing FI and figure out an approach that will resonate with people
  • Update from in-house experts:
    • Millionaire Educator released his 2017 Free Money tables
    • Big Ern responds to Mark’s question on the pluses and minuses of ETFs and mutual funds and how to choose between the two
  • New in-house expert: Noah from Money Metagame who will share life hacks
  • Voicemail from Noah about how to save on purchases using discount gift cards as payment
  • Voicemail from Marilyn challenging the ‘sacred cow’ of always buying used cars and how it can be a smarter decision to buy a less expensive new car that you plan to keep for a long time

Related Post: Why You Should Never Buy A New Car

  • Can a car loan make sense if you have a lower interest rate?
  • How to negotiate on purchases by mass emailing multiple competitors and Brad’s challenge to the audience
  • Frugal wins of the week from our private Facebook group
  • Book giveaway and iTunes review

Links from the show:

Books Mentioned in the Show:

ChooseFI has partnered with CardRatings for our coverage of credit card products. ChooseFI and CardRatings may receive a commission from card issuers.
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3 thoughts on “029R | The Friday Roundup”

  1. Had to chuckle when listening to this. I guess I’m an aspiring minimalist. I have 5 combinations of button up shirts and slacks that I wear to work, one for each day. I can literally tell what day of the week it is by what I wear! I also appreciate the info on new vs used cars as I am about to pull the trigger on that one. Guess I’m off to do some math and email negotiating. Keep up the good work guys!

  2. Kudos to Marilyn.

    Sometimes I buy used cars, sometimes new.

    The used cars tend to be older, cheap “toys” but for functional, daily drivers we tend to go new.

    My new buying process is different than hers, and probably not as effective. Plus I pay cash. In addition to her points, buying new is a lot easier and more time efficient.

    But I also prefer simpler, cheaper cars which tend not to depreciate nearly as fast and I hold them for a long time. No worries on prior history.

    Our ’07 Forester was bought new for ~19k and is going strong with 125k on it.

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