Updates & Inspiration for Your Financial Independence Journey

As part of the “take action” credo at ChooseFI, we always advise you to get new quotes on your car and home insurance each year. You’ll be shocked at how much you can potentially save just by going to a different insurance company. I’d always start with traditional carriers like Geico, State Farm, and Allstate to get a baseline, but two companies just were introduced to me that are disrupting the insurance industry in unique ways: Metromile: My car is a large paperweight right now, so paying for car insurance based on how many miles I drive is really appealing! Ed, our CEO at ChooseFI, switched his auto insurance for 2 vehicles and 2 drivers to Metromile and was able to get his monthly cost under $40 a month when his city was locked down. Even with some summer road trips, his monthly auto insurance is less than $60/month. The downside is it is currently only available in: AZ, CA, IL, NJ, PA, OR, VA, WA. Check out our in-depth review of Metromile here. Lemonade: Jonathan used Lemonade to get his latest homeowner’s insurance policy and he couldn’t stop raving to me about how quick and easy it was. In classic Jonathan-style, he

What Have you Splurged on Recently? We talk a lot about cutting expenses at ChooseFI and while there’s room in most budgets for cutting wasteful spending, the path to FI is decidedly NOT about deprivation. It’s about finding what you truly value in life and putting your time, energy, and resources into those things. I think this is critical, and to prove this point I’ll share a recent expensive purchase we made based around value: We bought a Concept2 rowing machine for our home gym for around $900. I agonized over this purchase at first, because my frugal nature is still strong, but here’s how I framed it around value: All four of our family members will use this multiple times per week, as it’s incredibly easy to use and actually fun. It’s amazing exercise and we significantly value health and fitness. And while most items you buy depreciate 75%+ instantly (check out a garage sale to prove this point!), this rower could be sold at any moment for at least $650. Fun Activities for Less Jonathan, a new member of our Facebook group, asked a great question recently: “What fun activities do you and your family like to do