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029R | The Friday Roundup

woman tracking personal finance in notebook
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.

Podcast Episode Summary

  • 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:
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