Fiology Course

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 another. An Example Today, after the longest stock market bull run in history (minus…

Financial mentors can help you achieve Financial Independence. Consider taking advice from financial mentors who have already learned the hard way. They can help you progress faster and with much less pain. Discovering Financial Independence is magical. After tripping over a blog or listening to a podcast, change comes quickly. For example, you can plot…

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 happiness. You want to connect with others who think about this stuff…

Why should you consider using side hustles to make extra money? A side hustle is defined an activity performed other than your primary job with the goal of earning extra income. Using a side hustles to make extra money is one of the most powerful tools you can use on your path to Financial Independence.…

Defining Prenuptial Agreements: What is a Prenup? The term ‘prenup’ is short for prenuptial agreement, which is a contract that couples create prior to entering the bonds of matrimony. This legal document encompasses a comprehensive tally of each individual’s assets, debts, and delineates the property rights after a potential divorce. Prenuptial agreements, also known as…

If you buy a car without knowing how to buy a car, you will likely make a very costly mistake that can derail or delay your Financial Independence plans. Transportation is one of The Big Three Household Expenses and can have a significant impact on your Financial Independence journey. If you have determined that you…

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…

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…

Benefits of investing in rental properties include: Cash flow Appreciation Depreciation Ability to build equity These are just a few. If you decide to invest in rental properties, you’ll become familiar with the above list and more. Generally speaking, real estate also receives favorable tax treatment when compared to other assets or types of income.…

Determining how much health insurance you need is not an easy task. There have been so many changes that make it difficult to calculate how much health insurance you need. Prior to the Affordable Care Act (ACA), plans and coverages was relatively easy to understand and, for the majority of people, more affordable. Remember the…