THE FIOLOGY WORKBOOK
Fiology is a free online resource for anyone looking to understand their finances, take action, and become Financially Independent. In addition to the mechanics of saving and investing, the course addresses the issues of happiness,...
LESSON 0 : WHAT IS FIOLOGY?
Fiology answers the question: “What do I need to know in order to plan for and achieve Financial Independence?” Financial Independence: The term “Financial Independence” returns 175,000,000 results when Googled. There are thousands of sites...
LESSON 1 : WHAT DOES FINANCIAL INDEPENDENCE MEAN TO ME?
What does Financial Independence mean? Financial Independence generally means having a net worth providing an amount of passive or near passive income that allows a person to no longer actively work for money if he...
LESSON 2 : WHY FI?
You now have your definition of Financial Independence (FI) and are intrigued enough to pursue FI - but why? It is important to know the why because this journey can be long, challenging, and at...
LESSON 3 : HOW MUCH DO I NEED?
The traditional investment advice of save 10-15% of your income until you are 65 and you’ll be able to do with your money and your time as you please just doesn’t cut it for those...
LESSON 4 : THE MILESTONES OF FI
Fiology thanks Joel of Financial 180 for shaping this lesson. The Milestones of Financial Independence (FI) are checkpoints along our FI journey that represent significant accomplishments. They allow us to acknowledge our successes of the past and...
LESSON 5 : THE BIG THREE : HOUSING, TRANSPORTATION, AND FOOD
The more money we have after paying our expenses, the more we can invest. Depending on our circumstances, we may not be able to make an immediate change that significantly impacts our income generation. But,...
LESSON 6 : THE MIRACLE OF COMPOUND INTEREST
Compound Interest has been referred to as the 8th Wonder of the World. If Einstein actually said that is debatable but what isn't up for debate is the ridiculous phenomenon of Compound Interest. Sure, we’ve...
LESSON 7 : WHERE DOES MY MONEY GO?
The first step in developing a budget is tracking your spending. But then what? We then need to accept where our money was going and reroute it to where we know it will make a...
LESSON 8 : OVERCOME DEBT
Having debt on our way to Financial Independence feels like starting a baseball game already down 5 runs. The good news is we have the ability to come back from our deficit and achieve victory....
LESSON 9 : RETIREMENT ACCOUNT BASICS
Using retirement accounts can expedite Financial Independence. There are different types of retirement accounts and we don’t have access to all of them, but we may have one or more available to us. Many corporate...
LESSON 10 : DO MY HABITS WREAK HAVOC?
Merriam-Webster defines a habit as an acquired mode of behavior that has become nearly or completely involuntary. While our money habits will shape how we achieve Financial Independence, habits impact all aspects of our lives....
LESSON 11 : LET OUR VALUES GUIDE OUR DECISIONS
Each one of us walks our own path through life. We are individuals with unique beliefs, views, experiences, and desires. We receive plenty of recommendations from friends, family, coworkers, and others with good intentions to...
LESSON 12 : THE RISKS OF FINANCIAL INDEPENDENCE
A proverb advises against putting all of our eggs in one basket. Andrew Carnegie advises us to put all of our eggs in one basket and then watch it. Both of these can be considered...
LESSON 13 : IT PAYS TO BE PASSIVE
The majority of people do not have the time and motivation to conduct the in-depth research to confidently pick individual stocks in companies that will make them Financially Independent. We would need to know if...
LESSON 14 : THE PENSION DIMENSION
Fiology thanks Grumpus Maximus, the pension expert of the FI community, for shaping this lesson. In the U.S., prior to the 1980s, a company or government Defined Benefit Plan (DBP), commonly referred to as a pension, was potentially...
LESSON 15 : RENT OR BUY: WHAT’S BEST FOR FI?
For most, housing is our largest monthly expense. It can have a significant impact on our FI plan. Assuming that living under a family member’s roof, paying little or no rent, is not an option,...
LESSON 16 : AUTOMATIC FINANCIAL INDEPENDENCE
Once we automate our finances, and our investing specifically, we can focus on other important aspects of our lives with the assurance that we are well on our way to Financial Independence. Our stress levels...
LESSON 17 : IMPROVED EATING HABITS: A RECIPE FOR FINANCIAL INDEPENDENCE
Fiology thanks former dietician and nutrition educator Earlier FI for shaping this lesson. Our food bill can dramatically impact our savings rate. In this course, we'll experience a potluck of ideas and resources for a...
LESSON 18 : KIDS AND MONEY
Be kind to others...say please and thank you...max out your Roth IRA? Imparting lessons of financial literacy isn’t normally at the top of our parenting priorities. Today, with so much competition for our children’s attention...
LESSON 19 : DON’T EVADE TAX KNOWLEDGE!
Fiology thanks Juan of Finance Clever, a tax expert of the FI community, for shaping this lesson. What if instead of assuming misfortune when the subject of taxes surfaced, you saw opportunity? Opportunity to expand...
LESSON 20 : GEOARBITRAGE: MOVING CLOSER TO FI
Fiology thanks Dylin of Retire By 45, a geoarbitrage expert of the FI community, for shaping this lesson. Geoarbitrage reduced our FI timeline by 9 years! This proves that if someone is willing to take...
LESSON 21 : THE SECRET OF FI
It is natural for us to want to shout the message of Financial Independence from every mountain top. Remember the first time the idea of Financial Independence truly clicked and you wanted to share it...
LESSON 22 : HIGHER EDUCATION: TO PAY OR NOT TO PAY?
Fiology thanks Seonwoo Lee, a college hacking expert of the FI community, for shaping this lesson. Being responsible parents and fiscal fanatics we would be remiss in not exploring the idea of planning for our...
LESSON 23 : SHOULD YOU PAY OFF YOUR MORTGAGE?
This lesson assumes you currently have a mortgage on a primary residence and you are deliberating between paying it off as soon as you can, making payments for the full term, or some hybrid between...
LESSON 24 : NET WORTH ≠ NET HAPPINESS
Having money makes aspects of our lives easier, but does it make us happier? Studies indicate a direct relationship between annual salary and happiness up to about $75K. After that, the relationship becomes less relevant....
LESSON 25 : YOU CAN-DO IT YOURSELF!
Fiology thanks the FI Community’s DIY expert Captain DIY of DIY2FI for shaping this lesson. Many in the Financial Independence Community are predisposed to look for reasons to do it yourself rather than hire out...
LESSON 26 : WITHDRAWING FUNDS BEFORE AGE 59 1/2
Fiology thanks Paige, an extreme frugalist of the FI community, for shaping this lesson. Can I access my retirement money before retirement? There’s a myth that claims you can’t get your tax deferred money until...
LESSON 27 : MINDFULNESS
Mindfulness is a type of meditation that focuses on the experience of the present. It is a technique used to increase focus and reduce or eliminate the influence that overpowering negative emotions have on our...
LESSON 28 : JOIN FORCES FOR FI: IS YOUR SIGNIFICANT OTHER ON BOARD?
No matter how enthused you may be about Financial Independence, it is going to be a tougher journey if your significant other isn’t on board. From the outset, your significant other might exhibit a seemingly...
LESSON 29 : CUT THE CORDS THAT TIE US DOWN
Fiology thanks Deanna of Recovering Women Wealth, for shaping this lesson. First and foremost, “I wish I had spent more of my time watching TV” is said by no one … ever. Objectively, the most...
LESSON 30 : THE FIBRARY
Fiology thanks M.K. Williams, self-publishing expert of the FI community, and Mr. Winning Williams , the Budget Wizard of the FI community, for shaping this lesson. There is one critical lever to pull when you...
LESSON 31 : DON’T CELL YOURSELF SHORT
Fiology thanks Deanna of Recovering Women Wealth, for shaping this lesson. Cell phones - love ‘em or hate ‘em, most of us can’t seem to live without them. Owning a cell phone, however, does not...
LESSON 32 : WHOLE, TERM, OR NO LIFE INSURANCE?
Fiology thanks the FI community’s Life Insurance expert Michael Dinich of Your Money Geek for shaping this lesson. Life Insurance may seem an unlikely ally in the pursuit of Financial Independence, however adequate insurance plays...
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....
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...
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...
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...
LESSON 37 : CAR BUYING WHILE DRIVING TOWARDS FI
Fiology thanks Airman Mildollar of Military Dollar for shaping this lesson. Transportation is one of The Big Three and can have a significant impact on your Financial Independence journey. If you have determined that you...
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...
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....
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...
LESSON 41 : WHO IS YOUR FI 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...
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...
LESSON 43 : FI-LOSOPHY – STOICISM
Fiology thanks The Happy Philosopher for shaping this lesson. Stoicism is a practical philosophy that provides a way to think about how we interpret stimuli, both positive and negative, so that we can respond in...
LESSON 44 : SEQUENCE OF RETURNS RISK
Fiology thanks the FI community’s subject expert Karsten “Big Ern” Jeske of Early Retirement Now for shaping this lesson. What determines our investment success? Silly question! Returns, of course! The higher the average compound return...
LESSON 45 : REAL ESTATE INVESTMENT TRUSTS
In the FI community, there is no shortage of advocates for owning rental real estate and there is no shortage of members who steer clear of rental real estate. A few reasons people invest in...
LESSON 46 : ONE MORE YEAR SYNDROME
Fiology thanks mentor and friend Doug Nordman of The Military Guide for shaping this lesson. After years of diligent savings and being extremely aware of and planning for all fathomable downside future risks, nearing the...
LESSON 47 : DREAM BIG
Why did you choose Financial Independence? For most of us it’s so that we have the option to focus on things in our lives that bring us happiness and fulfillment. For some, this means spending...
LESSON 48 : CARING FOR AGING PARENTS
Time marches on, for us and for those we care about. When we are young we think of our parents as permanent and only much later realize that isn’t the case. We all grow old...
LESSON 49 : SOCIAL SECURITY
There are plenty of views and opinions regarding Social Security. For many in the FI community, planning goes forward with the assumption that it won’t exist at some point in the future. That is a...
LESSON 50 : THE DYNAMIC JOURNEY
Fiology thanks Miss Mazuma for shaping this lesson. As we’ve discovered by now, even within the FI community, there is a spectrum of people with varying styles and habits that range from extreme frugality,...
LESSON 51 : LIVING THE FI LIFE
Once we've overcome our internal struggle with the One More Year Syndrome and set a date to pull the trigger from traditional work, life changes - in most cases for the better. We are all...
LESSON 52 : FI-VANGELISM
Congratulations! You’ve finished a thorough exploration of the critical concepts of Financial Independence. Think of where you were a year ago and the progress you made along the way and how much better your future...
Fiology.com is an educational resource designed to teach Financial Independence (FI). We scoured the internet to find content from the best and brightest of the FI community and created lessons covering the critical concepts.
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