LESSON 42 : OPPORTUNITY COSTS

Fiology Lesson 42: Opportunity Costs

Fiology thanks Brad Barrett of Travel Miles 101 and  ChooseFI for shaping this lesson. Opportunity cost is defined as the loss of potential gain from other alternatives when one alternative is chosen. In its essence it means that if you spend your time and/or resources on one event, you can no longer spend it on … Read more

LESSON 41 : WHO IS YOUR FI MENTOR?

Fiology Lesson 41: Who is Your Financial Independence Mentor?

Fiology thanks the Filosopher of the FI community, DocG of DiverseFI, for shaping this lesson. Discovering financial independence is magical. After tripping over a blog or listening to a podcast, change comes quickly. Most can plot major life reorganization in those first six months after deciding on financial freedom. Debts are paid. Assets are reallocated. Revenue streams … Read more

LESSON 40 : FI WITH FRIENDS

Fiology Lesson 40: FI With Friends

Fiology thanks Stephen Baughier, the founder of CampFI, for shaping this lesson. Chances are no matter where you are on your own Financial Independence journey, you don’t have physical interaction or discussions daily with people at work, in your neighborhood, or even with your family about your philosophy about the relationship between your money and … Read more

LESSON 39 : SIDE HUSTLE UP!

Fiology Lesson 39: Side Hustle Up!

Fiology thanks the FI community’s side hustle expert Kevin of Financial Panther for shaping this lesson. A side hustle is one of the most powerful tools you can use on your path to Financial Independence. That’s because, assuming you’re already living fine off your day job income, every single dollar you earn from a side … Read more

LESSON 38 : THE PRENUP PROPOSAL

Fiology Lesson 38: The Prenup Proposal

Fiology thanks Good Nelly of My Way of Viewing for shaping this lesson. Nothing is constant in this world and neither is marriage. No one knows whether or not your marriage will work out the way you want. So, instead of being emotional and leaving everything for the future, you can, at least, secure your … Read more

LESSON 37 : CAR BUYING WHILE DRIVING TOWARDS FI

Fiology lesson 37: Car Buying While Driving Towards FI

Fiology thanks Airmen Mildollar of  Military Dollar for shaping this lesson. Transportation is one of the The Big Three and can have a significant impact on your Financial Independence journey.  If you have determined that you absolutely need/want to have a car, then it is important to understand the process and the many factors, price … Read more

LESSON 36 : DECLUTTERING HOME AND SELF

Fiology Lesson 36: Decluttering Home and Self

Fiology thanks Chris and Jaime Durheim of Keep Thrifty for shaping this lesson. Wait, I thought these lessons were about financial independence. Why are we talking about decluttering? Here’s a not-so-little secret about financial independence that you won’t find on most FI sites: financial independence isn’t really about money. Financial independence is about designing a … Read more

LESSON 35 : TRAVEL REWARD YOURSELF

Fiology Lesson 35: Travel Reward Yourself

Fiology thanks Marla Taner, a travel hacking expert of the FI community, for shaping this lesson. You have developed strict financial discipline. Reward yourself by using that same financial discipline to accumulate rewards points and travel for nearly free! Most people on the path to FI (heck, most people period) look forward to a day … Read more

LESSON 34 : REINFORCE FI WITH RENTALS

Fiology Lesson 34: Reinforce FI With Rentals

Fiology thanks Drew of Guy on Fire, a FI community residential real estate expert, for shaping this lesson. Real estate can provide a rapid route to Financial Independence. I am 28 years old, own seven rental units, and plan to be FI in under two years. Cash flow, appreciation, depreciation, and the ability to build … Read more

LESSON 33 : HEALTH INSURANCE

Fiology Lesson 33: Health Insurance

Fiology thanks Mandy Sleight of the the FI community for shaping this lesson. Prior to the Affordable Care Act (ACA), health insurance was relatively easy to understand and, for the majority of people, more affordable. Remember the days when pretty much every employer offered one plan, and you either opted in or out? Gone are … Read more