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This Is Not A Drill | Ep 177

We are starting to adjust to our new reality. Here in the FI community, we think a little bit differently. We can be creative and pivot to this new way of life for the time being.

As an example, Brad’s daughters had their piano lessons via Skype. He challenges us to rethink our own situations and get creative. What skills can you use to help people and make some money on the side as well.

How are you dealing with being stuck at home? Jonathan’s family normally runs errands after he is done working… but now he’s illustrating a children’s book for his son. Keep trying to find ways to stay entertained during this time.

Now is the time to take a hard look at your finances. Make sure you understand your core expenses and how long your emergency fund will last.

Then, cut ruthlessly, even if you still have your job, you don’t know what’s coming down the pipe and now is the time to start preparing. Ask yourself, what do I actually need, what do I value most?

If you have an emergency fund, make sure it’s in a high yield savings account. CIT Bank is currently offering 1.25 on their Savings Builder Account.

Check out CIT Bank here and get a little more from your emergency fund.

In light of current events, we are temporarily switching to a daily show to support our community during this time of uncertainty with more timely information and actionable tips.

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What Are You Optimizing For? | Chris Hutchins | Ep 423

Sometimes on the journey to FI, we ask ourselves the following; do I really need to spend money on this? Do I really have the time and resources for that? These questions may be easy to dismiss by saying no in order to stay on track with your financial goals, but by dismissing them, you could be missing out on something that is beneficial to your personal journey! This week we are joined by friend of the podcast, Chris Hutchins, to talk about the hacks for optimizing your life, the differences between cheapness and frugality, and the importance of valuing your time and what it can lead to. Saving money is an important part of achieving FI, but you should never feel so restricted that you miss out on investing your time and money in things that bring joy and value into your life. While saving is important, it’s okay to spend money. Whether it’s on a trip or investing in something new, there are ways to make it work without feeling guilt or shame. Prioritizing and valuing your time can introduce new experiences and provide happiness as well as perspective while on this journey! 

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