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Getting comfortable with being uncomfortable, hacks to save money on everyday electronics and using donor advised funds to optimize tax payments.
What you’ll hear on today’s show:
- Jonathan optimizing his house insurance
- Comment from Katie on using diamonds on engagement rings
- Examples of velvet ropes
- The importance of getting comfortable with being uncomfortable
- Sara shares a DIY success
- Voicemail from Daniel about saving money on everyday electronics
- Jaclyn share’s her success from a salary decrease
- Voicemail from Steven on using donor advised funds to avoid capital gains tax
- For a related article on this topic check out How To Plan Itemized Deductions With The New Tax Bill
- Alan saves money by timing the cash flows
- Kevin talks about creating a better version of health insurance
- iTunes review and book giveaway
Links from the show:
- Book: Predictably Irrational
- How we make meaningful and tax efficient charitable donations by The Frugalwoods
- The donor advised fund: A smarter way to give by Physician on FIRE
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As Jonathan would say, “The FIRE is spreading my friends!”
4 thoughts on “067R | Finding Your Superpower”
The listener who discussed cell phones etc made some great points but STILL pays too much! He said “instead of paying for a $500 iPhone you can get a great Android for $250”. I got my LG X-Power for $70 (brand new) at Target and it has the largest battery in class. I go a week without charging the phone. The phone is awesome!
As listening to this ( I pay 1000 a year in HOI) I emailed my agent and told him I was going to begin rate shopping for 2018….2hrs later, my rate was cut by 45% before I even received 5 quotes from other providers….. Thanks ChooseFI!
Bonkers. I have been on Republic Wireless with their Moto X phone ($100) for four years. I use their data plan that pays you back if you don’t use the data, and I pay between $11 to $25 per month depending on the data I use. I usually sit around $15-16 per month. My wife has the nicer LG Nexus phone with Republic and she pays $25 per month with no data payback. Republic has different plans available depending on the phone you use (Moto is on Sprint network; LG is on T-Mobile). Learn to live on less data; use WiFi; drop Google Fi and those pre-paid systems.
I use extremely little data since i use wi-fi everywhere and honestly don’t live off my phone as many people do. I have been using the pre-paid Tracfone and spend less than $100/year for my service. I can buy the 1 year service refills on ebay at a discount, usually around $80 and this year was the first time I had to add on an extra $5 for 1000 more texts mainly due to my tenants always contact via text. As long as you don’t send thousands of texts or hours of calls each month, it is fine. My wife is a realtor and therefore pays for an unlimited plan but if you really only need your phone for simple communication, why spend so much? Tracfone has surprisingly reliable service connection. I bought a new higher end Samsung phone with 1 year of service included for about $120 on ebay. Until I need more, I will stick with that. Have been using Tracfone for about 6 years.