112R | Planned Obsolescence

The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone. See our disclosures for more info.

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
112R | Planned Obsoleteness

ChooseFI Favorite: top rewards card for beginners

Chase Sapphire Preferred Card​

Looking for the best credit card to start earning travel rewards points? The Chase Sapphire Preferred is our pick. With a 50,000 point signup bonus (after spending $4,000 in the first 3 months), the $95 annual fee waived the first year, and ultra-flexible points (transfers to 13 airlines & hotels!), this is our top choice!

ChooseFI Favorite: top rewards card for beginners

Chase Sapphire Preferred Card​

Looking for the best credit card to start earning travel rewards points? The Chase Sapphire Preferred is our pick. With a 50,000 point signup bonus (after spending $4,000 in the first 3 months), the $95 annual fee waived the first year, and ultra-flexible points (transfers to 13 airlines & hotels!), this is our top choice!

An evaluation of the long-term savings that result from driving old cars, a review of how Naseema McElroy has optimized her finances and reversed lifestyle creep, and a series of voicemails and messages from the ChooseFI community.

  • Planned obsolescence is the idea that a company makes something knowing that you will have to replace it in a relatively short time period.
  • ChooseFI started a new DIY Facebook group to help the community tackle DIY projects.
  • Brad explains how economically efficient it is for Brad to keep driving his 2003 Honda Civic:
    • Brad aims to use his car for 15 years, and chooses to invest the money he would’ve used for car payments, anticipating that he’ll need 3 cars in his adult life.
    • Total that he’ll invest, instead of spending on a car payment: $742k.
  • When we optimize housing, transportation and food it makes the difference of hundreds of thousands in savings over a lifetime.
  • Naseema, from Monday’s episode, choose to optimize her finances and resist lifestyle creep.
  • Do you really value what you’re spending your money on?
  • Naseema’s $200k+ income as a nurse is not uncommon for her location.
  • Even if you’ve taken a specific career path, if you want to make a change, you are never stuck.
  • Having options is a hallmark of financial independence.
  • Naseema is making the most of geoarbitrage by living in Nevada and working in California.
  • A message from Kim, excited to prioritize her quality of life and incorporate lessons learned from Naseema.
  • Voicemail from Ryan, who explains how the U.S. government shutdown has given him the opportunity to practice a “pre retirement” and explore new side hustle and hobby opportunities.
  • Jill shares how she got her spouse fully on board with FI: sent him to CampFI using the power of a “tired parent” and 4 days away as a vacation.
  • In order to bring your spouse on board with pursuing financial independence, a good starting point is to start talking about what truly brings you joy.

From the Mail Bag:

  • Are you allowed to use your company match when calculating your savings rate?
    • Brad includes the company match in his savings rate.

 

Links from the show:

ChooseFI Episode 22 – The True Cost of Car Ownership

ChooseFI Episode 111 – The Lost Decade. From Prison to FI.

ChooseFI Episode 108R – How to Calculate Your Savings Rate

ChooseFI Episode 106 – From Addiction to FI

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest

2 thoughts on “112R | Planned Obsolescence”

Leave a Comment