Transcripts Including Tag: fitness

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004: Get Off The Hamster Wheel | Jonathan Backstory Jonathan Mendonsa My wife's amazing she's way more frugal than I am and it's awesome. But aside from that and moving forward some of the other stuff it takes. Gosh I'm going to say three bullet points but there might be a fourth one after I get to the third one. I'll be honest this is going to be a confession. I'm really not the most frugal person. I'm a reluctant frugalist I have an article that you can read on ChooseFI dot com about that. But I am very disciplined and I hate recurring expenses I don't mind spending money one time on something but I hate bleeding money out month to month. So first find out what your life cost. I started by simply just tracking our expenses for you know my family using mint and we categorized every transaction for three months just to kind of find out you know what her actual cost were and so just to share some of those with you also all kind of can compare and contrast. We were at you know thirteen hundred dollars a month in rent $150 a month for a cell phone bill $120 a month for the cable bill $350 car payment $60 gym membership $35 a month for water car insurance. Hundred and some odd dollars a month electric bill $200 a month food bill was approaching $800 a month and the student loan bill which was that massive one was all the way up a $2000 a month. So that's where it was that's where you started that. And frankly that that approaches almost $60000 a year in just recurring monthly expenses. And so once you have figured out what your actual life is costing you then the next step is you need to focus on how can I decrease that because you have two approaches if you want to try and get more to your student loans one you can increase your income. But that is inefficient because you're already in a high tax bracket so if you're already spending a certain amount of money if you want to send extra to student loans in order for you to send maybe a $100 extra to student loans to earn on an almost $140 in order to do that. So it gets increasingly expensive. And so you should always look at first and how can you minimize those expenses and see if you can decrease what your life is actually costing on a month to month basis. And if you can do that successfully you'll be paying off your loan with cheaper dollars. So that's what we focused on. And we were able to get rid of it by looking at that. We were able to get rid of a bunch of that stuff some of that maybe standing out to you the audience as wasteful already. So for me when I look at that now I see that cell phone and the cable is ridiculous. So you know just cut the cable Who needs cable this is 20:16 there's a million different ways that you can watch anything you want on the Internet including at bare minimum Hulu Netflix Amazon Prime. You just you just don't need cable anymore. Just a way to feed you commercials for eight hours a day. So we got rid of that. The cell phone bill that's also ridiculous. I mean that is absolutely ridiculous. And there's a lot of options to reduce your cell phone bill so if you're paying $150 a month for yourself window for you and your spouse. Come on. Figure out a way to do better. And if you're saying your stuff will have to have my phone. Come on. We're talking about your life freedom here do you really need to get to spend $150 a month on a cell phone bill. So we moved them down to a republic wireless project FI type programs and you know we spend about $20 a month for phone maybe 50 to 60 dollars a month total. We also took a look at some of the other things we decided that the gym membership we really weren't getting a lot of use out of. So first we end up moving it to a like a smaller gym that was only $10 a month. We decided we didn't need all the features that were being offered by that $60 month megaplex. And at this point we've just cut it completely and we're focusing on a more functional fitness and things that we can do at home. We also crushed our food bill. We figured out how to get that down dramatically. We decreased how many times were going to the restaurants and we focused on paying off the car and we focused on our electric bill and tried to find out why that was so high. Was there a way to decrease that so the other thing you gotta do is you've got to figure out how to make that simple and how to control your money to dictate where your money goes. And so honestly when you're in this position and you're trying to pay down a dramatic amount of debt you really do need to avoid credit cards credit cards. There's a statistic that says that people spend on average an extra 12 percent when they use credit cards. And I can definitely see how that would be true. But even if you're not doing that. The problem with credit cards is that they give you too much flexibility on the front side and you need to be very disciplined and focused. You need to have a set amount of money and use that specific amount of money. And so debit cards really are better. And the specific system I used was to not just have one bank account with one debit card but to actually open up about five or six different bank accounts my bank lets me open them for free. And I would give each one of those a name. So you have a food account you had a gas account you had personal spending account and each one of those got a set amount of money and that's what you had to live on for those 15 days. And we did it. You know I get paid biweekly but biweekly doesn't really play nice with other stuff so we did on the first and the 15th. You would get an auto transfer of a specific amount of money that we had pre pre-decided and that's what she had to live off of. And we did that successfully for about two and a half to three years. And what we would do as soon as I would get paid I would auto transfer the specific amount to the bank accounts and then everything else passed that I would go ahead just send off to student loans. I mean it was gone. And just like that. And then I would mark it down that I had paid that and that was my little win. So that was bullet point one into two bullet point three is focus and intensity because you can do something really well for one month or for two months maybe even three months. But to do something really well and have that intense focus which is what it requires for three years. It is boring. It is not fun. You know there's nothing glamorous about paying down debt. There's something kind of glamorous about investing even if it's an index funds which are as boring as you can get. It's kind of glamorous in that you can visualize your money earning money for you. But if you're paying down debt you have to look for other metrics in order to keep yourself engaged in this process. And so I had to come up with whole new systems to look at to say hey I'm really making progress because you just send the money off and it just disappears. And then maybe it goes down a little bit. But it's hard to track what it's really doing and every single time you choose to send them that money for that student loan payment. That's money that you don't have for vacation. You don't have to go eat out or or do other stuff that is more fun and enjoyable you know. So I came up with a few different metrics that I use and I have an excel sheet that we've actually posted on Choose FI dot com that you can download for free if you if you have a lot of debt you want to pay down and you want a tool to help you stay focused and on track. It's available there for free download. But basically I looked at one I looked at my total balance obviously. And then I created an Excel sheet to help me track what my daily interest accrual rate was. And then I put that into perspective. So you know when it started it was almost a thousand dollars a month in interest that I was paying regardless of my balance. But then as I got it down maybe if you look at a monthly interest rate of a thousand dollars a month that is almost $130 a day in interest relatively. So after I would make an extra thousand or $2000 payment maybe it would go down to like $29 a day or $27 so just track every single little win and say you know what. Now my monthly interest accrual has gone down from a thousand dollars a month down to $300 a month so now I've moved from having a home mortgage down to a car payment. You just got to visualize you've got to track it you've got to look for wins you got to keep yourself motivated if you can project out every payment you're going to make for the next eight or nine payments and you're not just doing your auto payments which give you a discount but you're also doing extra payments based around your biweekly pay schedule if that's how you get paid. You've got to look at how those impacted by paying it early as soon as you get paid. The first thing you do is you go and you send that student loan payment in because there is a daily cost a daily cost of not sending in those payments so it takes intensity it takes focus and just takes tracking a little when so you can keep your eye on the prize. And so a way basically what we found out we started is that our costs of living initially was probably close to 60000. And when we were able to implement some of these life hacks and smarter choices we were able to dramatically cut that cost living down into that we were able to live fairly comfortably and sustainably for around 35 to 38 35 to 40 grand a year and then just end it everything else went to student loans and we had some costs already baked in. But I did have high earning potential but I also had a high tax rate and if I was just able to to live an entry level middle class lifestyle it became very possible just to stay incredibly focused on those student loans paid off in a short amount of time.
010: Skinny Waist Fat Wallet Jonathan Mendonsa And this is a little bit of a conversation. I really haven't organized it you know as well as I probably could have going into this but I think it'll flow because what we're going to give you these are all my thoughts concerning fitness and as a way of challenging myself to do this for you and actually implement these I have decided that I am going to do all these things myself right now. And so right now it is January 26 when I'm recording this. I plan on losing 30 pounds within three months and actually have a son that's going to be born right around April 22nd so I plan on losing 30 pounds by the time he's here I've given myself the challenge.
010: Skinny Waist Fat Wallet Brad Barrett Thanks man. Yeah I was I was thrilled there was just such such a positive development. So you know aside from all the benefits you know physically and mentally that I've gone from from getting into shape this past year I mean that was just what solidified this that you know man I'm I'm definitely on the right track.
010: Skinny Waist Fat Wallet Jonathan Mendonsa Absolutely that's exactly what it is is exactly what it is and a lot of times when you think you're hungry you're you're actually just thirsty. There's two different ways that people approach fitness. One of them is these these crazy diets and you know if you want to be a bodybuilder I think you probably do need to consume a massive amount of protein. But if you just want to be ripped or lean that protein is not necessary and in fact you know is a lot of people that want to be a bodybuilder that consume a massive amount of protein and because they don't have their macros right in their diet right they're just overweight and muscular. I mean it doesn't it's not attractive it's not something you'd want to emulate. But most of us recognize that there is something pretty much universally attractive about being lean and in shape and the great thing is that does not require an expensive diet. It requires a controlled diet but it totally fits within this frugal price model. We want to build out so you know be a body builder and broke or be completely ripped and don't have a fat wallet. The tagline we used was have a skinny waist and a fat wallet. And really what we're getting at is that you have the ability to be in any shape you want on a very frugal budget. And you know just focus on eating these healthy foods. Maybe some of which we'll talk about using some of the techniques that we talked about but it does not have to break the bank.
010: Skinny Waist Fat Wallet Brad Barrett Yeah just to kind of touch on that accountability. You know in this case Jonathan and I are going public with it. You know something could be posted on your Facebook page. Right. Tell your friends. Get a group of you know five to 10 people in an e-mail chain that you keep updated or that are also doing some kind of fitness goal right. It could be group accountability. You know there are even some kind of web sites I know Tim Ferriss talks about this that are kind of like betting Web sites so essentially like I think it's stick. S t i c k k I believe and you know you're more or less publicly saying I'm going to do X and if not I have to pay X number of hundreds of dollars and you make it up. So it's a bet essentially. So it's cool you know and it could be like the money is sent to somebody that you absolutely loathe. There's some organization that you loathe Right. So you know pick a political persuasion or whatever the other guy is.
010: Skinny Waist Fat Wallet Brad Barrett All right. So my public goal is actually about two of them. So one in the back of my mind for the last couple of years I have these ideals of fitness. OK. And the first one is pretty pretty silly. But just bear with me here is I want to be able to do a set of 15 pull ups. OK. So to me that's a marker of fitness whether you know whether I'm right or wrong I think someone that can do a set of 15 pull ups in a row or you know regular overhand pull ups is a pretty pretty fit person. You know upper body wise. So that is the one half. And I think the more important half and this is something that has always dogged me. OK I'm going to kind of give a little sidebar story here is how quickly I can run a mile. OK. So to me and you know I might get into some territory that people disagree with here. But you know when when people go out and run half marathons or marathons you know I'm always impressed to some degree that you know it's just that they can do that. That is a feat to me and it's something I never wanted to do. I probably physically couldn't. Maybe we can you know talk about that but I'll say I couldn't do it just doesn't appeal to me all. But it also you know I see lots of people who are out of shape who run half marathons and marathons. You know it's not a marker of fitness. To me it's just they accomplish something that's remarkable. So I'm not taking anything away. But to me the six minute mile has always been this elusive thing. Now obviously you know professional runners can run in you know four minutes some five and you know they would laugh at a six minute mile but for a regular average person if you can run a six minute mile that's pretty phenomenal. I don't know too many adults who can run a six minute mile. OK. So you know that has always I was a soccer player back in high school and you know I think when I was you know I was in pretty decent shape ran a decent amount and this is like I said it has dogged me for years is senior year of high school we ran a time mile and I was like literally I knew it at the time it was the last time I will in all likelihood that I would ever run. And I think I got like six minutes and four seconds and I kind of like loathed it at the end and I was like oh come on man why don't you just sprinted in you could have got you know five fifty eight or something. So while you were saving it for your 30s Yeah right. Right. So now at 37 I want to get a six minute mile. So you know honestly I don't have a baseline number right now.
010: Skinny Waist Fat Wallet Jonathan Mendonsa No it's the same thing. I mean back in the day I grew up with soda and Sprite and those are my favorites and you know Gatorade and all that stuff. But at some point as I started pursuing fitness and it really even carried over to me even in a more passive you know type of way of looking at I drink water I drink 100% water and at this point it's all I really know what if I start drinking I don't think I could drink a soda a day. I think it's a possibility but I know that a lot of people do only drink soda because if you go to the grocery store they have an entire aisle dedicated to your soda of choice.
010: Skinny Waist Fat Wallet Brad Barrett Yeah. I think we've touched on the nutrition side really really well. I mean I'd like to talk about the fitness and movement side certainly for the rest of our time here. I think just general movement is important. You know again not to pick on my parents but you know they don't move that much. Right. And it's kind of this this horrible cycle where you know they're overweight because they eat a lot and not you know didn't move a ton. And now they're you know it's just getting worse and worse. So you know I try to build movement into my day as much as possible. Now that could mean just literally you know when I worked in an office job it was getting up every hour or every other hour and walking around the building for five or 10 minutes. Now you know a lot of people are going out for you know even in this thing which smoke breaks or something awful like that. You can take a five minute fitness break. It's really not that hard. Just get up you know go to the bathroom and then walk around the office building for a couple of months. I you know honestly like this is one of those kind of little funny life hack stories. But like I literally there was one other guy in my office building of you know hundreds of people who would walk around the office. We became friends over the course of you know a year or so and it wound up that my wife Laura is now working for his company because I literally met this guy in the hallway walking around our building. All right. So you know I'm not going to guarantee you that you know you're going to get some kind of networking find but like but man I like how cool is that. You know like I was doing something good for myself and you know even just get up and just do two squats or five squats just something to get your muscles firing. You're sitting there all day long just not getting up. Just try to move a little bit more. You know just some of the stuff that's built into our culture is so negative. Like I always think about and you know maybe my family is crazy but you know we talked about getting a good parking spot. Does that does that ring true to you. Have you ever heard of that.
010: Skinny Waist Fat Wallet Brad Barrett I mean that that happens that's normal. That is a good parking spot just freakin Park 12 spaces away and walk the extra 12 spaces. That's when you're going to save time in totality. And B you're going to walk a little bit more. That's not too bad. You know I mean there's this thing thrown around where you know I don't know if there's any validity to it but they talk about you know 10000 steps a day. You've heard that I'm sure. Right. Like you know fitness trackers Fitbit and those kind of things like you know again I don't know the studies. I'm not a scientist but you know it's thrown around that if you if you walk were moved approximately 10000 steps in a day that's going to lead to a pretty healthy lifestyle. Now I've had a Fitbit for often on over the last five years and I can tell you in the normal course of life without making a special effort to move I was somewhere between two and 3000 steps a day which you know that's a tiny fraction that's a fifth or a third or you know of our overall daily recommended walking and you know I'm a reasonably fit guy and you know that just isn't good enough. So I need to build in a couple of those five or 10 minute walks into day to even get close. You know you can walk in my pace it's like I'm walking about 1200 steps in ten minutes so you know if I build in three of these these small walks That's an almost four thousand steps extra a day. I mean that's pretty darned good that more than doubles my normal daily walking. And you know honestly my two to three thousand is way more than what a lot of people do. So you know people who are really sedentary they're walking a thousand steps or fewer in a day. I mean that's that's pathetic.
010: Skinny Waist Fat Wallet Jonathan Mendonsa But there are some real benefits to doing it. When you when you actually lift weights whether it be like a machine or free weights your body is breaking down the muscles they're having these tiny micro fractures in them essentially and then it takes a couple of days to heal and that increases. It does two things. It actually increases your metabolism temporarily because your body has to burn more energy in order to repair those muscles. And then they they do increase and they tighten and they tone it also. If you're a female it's going to increase your bone strength and decrease your risk of osteoporosis or fractures. And then you know when you're running typically especially when you're running the traditional way which is which where you throw the treadmill or on six miles an hour you run for 30 minutes and you get off as soon as you're done. You know maybe you burned 120 180 calories while you're running. But as soon as you're done it's over. You're not burning more calories but with weights you're actually your metabolism has a peak at it for the next 12 to 24 hours while your body is healing. So that is another efficiency thing. And there's so many benefits to it. You're you're adding muscle you're burning fat. Your metabolism is speeding up because now you have more muscle on it. And one of the things that I try to do that I've realized more and more is that I'm not as interested in the beauty muscles as I was maybe I was like a teenager. I'm not interested in having 20 inch biceps. It's never going to happen for me. You know I've I've I've done weights at all sorts of intensities I've done it six or seven days a week. At one point and I was taking creatine and all the supplements doing everything. And I got to a level of fitness that I was very proud of. And then I stopped for six months or a year. It was completely gone. All that work was gone. It's just unnecessary. You don't need it. No one is impressed by it. Probably even the people I thought were impressed by it weren't impressed by it and just why are you doing it. So my goal is not to be a body builder anymore it is not to be respected around the world for my level of fitness and my six pack abs. It is you know it again goes back to what that mission statement that goal was. I want to be lean I want to be healthy I want to enjoy wearing my clothes you know and not feeling like my clothes wear me. And if you're going to do that you don't need to spend too much time working on bicep curls so I focus on very functional fitness so like Brad was talking about pull ups you want to engage these large muscle groups they're gonna have the biggest bang for your buck for the time you're putting in so pull ups are fantastic. Pushups are fantastic. If you have access to weights either at your gym or at home you know if you're doing it at home you just get a barbell and a few weights squats and deadlift deadlifts are amazing people hate deadlifts but they are just phenomenal if you have them at home. Just go do them a few times a day. Try and get three sets and every single day. And you're activating your metabolism around the clock it couldn't be more simple.
010: Skinny Waist Fat Wallet Brad Barrett It's so awesome. I mean it really really is so awesome. And you know just kind of real super quick aside you know kind of a force multiplier as I call them the things that have been really beneficial for me specifically exercise wise is one is a free thing which I'll mention now is there's a guy named Mark Devine who is a former Navy SEAL commander. He runs a Web site called SEAL fit dotcom. OK. So if you go to SEAL fit dot com forward slash yoga there. He calls them warrior yoga. OK. So he instituted this with a lot of his Navy SEALs and you know when you go through it I can see why there's I think it's a warrior you're short form a and b. OK. I would highly recommend just pop onto that Web site and check it out there. Five minute little yoga sessions which you know might sound woo woo to you guys out there who aren't into yoga but man is that just great functional fitness that will beat the heck out of you. Honestly if you do five minutes of that I do that every single morning. So I do this one like 40 second little thing that you repeat five to seven times. And you know what he always recommends is kind of like building the breathing into it. So you know at first as Tim Ferriss likes to joke I was you know breathing through my mouth like a you know asthmatic monkey and you know just sucking air. I mean even just doing this five minutes of yoga. But now I've gotten to the point where I know my breathing system is good enough and efficient enough that I can do it entirely through my nose in a very controlled manner. And like as silly as that sounds. Man that was such an accomplishment when I was able to do that and you know it is just great exercise. I've seen you know muscles that I've never seen before and I attribute it to a large degree to that particular thing and it's free.
010: Skinny Waist Fat Wallet Jonathan Mendonsa Lots of fun lots of fun. And you know what I really appreciate it. AUDIENCE MEMBERS those of you that have reached out to us and sent us a message or commented on our post that's really cool. We love the interaction and we've learned a lot from you already. We hope you're getting a lot out of this so if you have already left us a review on iTunes we appreciate it. If you have not but you want to. That would be fantastic. Just go to iTunes go search for choose FI. Go to rating's and reviews and you know leave us an honest review. Hopefully five stars. Also for those of you that listen to us on iTunes. But were not aware that we had a companion Web site. We're super excited about the Web site choose FI dot com. We build it as a framework to really organize these ideas for you. So if you're interested in a particular topic and you want to get more information relating to that topic go to our Web site choose F-I dot com. Go to our Get Started page first to kind of find out how you can get integrated into our community. And then from there I would recommend you go to our experiment's page where we've actually built out some of the concepts and theories that we discuss on the show. So today as you may have heard from the title we're going to be discussing really fitness and how it how to you know look at that from a personal finance perspective from a health perspective kind of how some of these different ideas go together. And I think this is going to be a little bit unique because you have a lot of people focusing on fitness with no regard to your budget. If you if you sign up for some of these meal plans or programs they will have you consuming you know protein at every single meal. And if you look at the average budget for someone that's interested in fitness it just it skyrockets through through the roof. But I think there is a smarter way of doing it. I think there's a way that you can do it without breaking the bank. And we wanted to talk a little bit about our particular views on fitness and the scope of personal finance and also frugal living which Brad and I are both big believers in.
014: The Phases of FI with Mr 1500 Carl "Mr. 1500" Jensen Not at all. So. So I found those out for weeks and it was always my fear and my worst fear in life is to be bored i cannot stand being bored. And what I realized during my time off is I would try to be very disciplined. I'd have a big list I'd have like 15 or 20 things I wanted to accomplish. And by the end of the day I'd have like seven of them done. And not because I was un disciplined watching YouTube was just because I would get into one project I would say hey I want to write this post and it's going to take me half an hour. I always write how long I think it will take me in like. An hour and a half later I'm still working on it and I think it needs work. It's such a luxury to have the time because instead of instead of rushing through these tasks that I would do what I had to work 40 hours a week I can have this luxury to really do them right and same thing for working out. I would take like when I worked full time I would take half an hour to work out and get through as fast as possible because I've got to come home and make dinner. But once you have the luxury of not having your work you can spend two hours on your workout and warm up with a mile or two run and then do my weights for an hour and then run a little bit more after that. if I still have any energy and it's completely wonderful So what I found is my projects that I have expanded to fill my time and now I think I need more time to this three day week stuff is not enough. So I found that out very quickly and I was pleasantly surprised by that.
016: House Hacking with Coach Carson Jonathan Mendonsa It just to me just it makes sense you know. We've been basically unpacking these different life hacks that you can start to implement you know we've talked about travel hacking how to travel the world for free. We've talked a little bit about college hacking how to optimize that we've talked about food how to decrease your food budget. We've talked about fitness how to do fitness in just a way that makes sense. It's just a little bit smarter you know and as we always say you don't have to do everything perfect and you don't have to do everything that we're doing. But if you can just you know lock up one to see if you can just lock up a few of these life hacks you are going to retired decades in front of your peers. And I think what superpowerful But what we're saying today and what we said already twice and I just want to reiterate it. The ultimate goal for the fire community is not money it's freedom it's flexibility. It's spending time with those that you care about. And these are the tools that you can implement. Every single time. So we hope that you enjoyed this awesome podcast and join us next time as we continue to go down the road less traveled.
020: Entry Level Middle Class Lifestyle and a FI approach to Insurance Jonathan Mendonsa So yeah I've always had a gym membership up until recently I've been at the gold's where you know $30 a person so me and My wife would have been 60. I didn't move to one of the lower cost options so in my case it was Planet Fitness for $10 a month which is great because instead of being around with a bunch of you know dudes that are all wearing spaghetti tank tops you're just with a bunch of like 50 year old people that are all on the cardio machine. Nobody's touching the weights right. So. So that was great for a while actually. Now I just I just dropped it. Yeah I haven't really I don't I stopped altogether so I have a $0 gym membership and what I did is I did some I guess you could call it radical in-sourcing actually turned one of the the the the entryway room in my house into a little mini gym Brad I'll tell you it's legit but I dropped probably close to a thousand dollars getting all the equipment in there. And my biggest thing was time. So once your post financial independence you have you know an unlimited amount of time that you can then figure out what you want to use and obviously a lot of that should go to fitness and health. But when you're in the grind when you're on the hamster wheel you have a very limited amount of time and you have to choose how to effectively use that. So for me the decision was not just how much is a gym membership costs but what is the mental hurdle of actually preparing to go to the gym going to them coming back and then getting ready for the next activity. And so I was having to put myself through contortions like getting up at 4:00 so that my wife and I could go at 5 so that she could be back at 5:45 to get ready to go to school at 7. You know and then she's she's she's pregnant and she doesn't want me to go without her. And so she wants to go with me but that's overly stressing her out or conversely you know she and I maybe she gets back. And then you know after eight hour nine hour day or trying to go together and then the gym is completely packed in and you really you get through it and you're able to do it for maybe six seven eight weeks but it doesn't add joy to your life. It just feels like something you're going through the motions of doing and you just hate it. And that's kind of the place I was finding myself and now I'm not saying that's all. That always needs to be the case. But that is where we felt like we were at. We were not enjoying it. So by me moving at all just cutting it out doing a replacement focusing on functional fitness and then what I could do in this and this home gym really there was no sacrifice there and in fact it allowed now the time element is completely gone. I move from one activity I knock it out I can go back and I've loved it and so now I've got you know essentially I've saved 60 bucks a month so if you multiply that times the safe withdrawal rate of you know 25 that tells you the value of what my gym is you know every every single every single year yeah.
020: Entry Level Middle Class Lifestyle and a FI approach to Insurance Brad Barrett Yeah that's super cool. And just to piggyback here on even though this isn't gym per say this is definitely fitness related it is just in the last six months or so I've started doing Brazilian Jiu Jitsu actually. And after listening to the Jaczko Willink podcast on Tim Ferriss and then and then his own podcast I know we had Mr. 1500 on and and he quoted Jaczko with his discipline equals freedom which is to go along with that Tim Ferriss quote that I mentioned earlier just another just phenomenal phenomenal quote but it really got me interested in in jujitsu and you know if you go to a regular jujitsu place it's going to be 100 to $150 a month which is which is crazy and there was just simply no way that I was going to do that. But what I did was you know again it's with the FI mentality it's thinking a little bit differently. And you know I just did a ton of research and I actually found Grisi jujitsu which you know there the the the family who essentially created jujitsu in Brazil and they have these things throughout the country because they don't have that many of their certified training centers. They have what's known as Grisi garages. So if you know a couple of people in a metro area want to get together and practice and study Gracie jujitsu but they don't live anywhere near a certified training center. They can literally do it at their house and you know there is some of these things where they need to you know you need to have mats and you need to have you know X Y and Z and you literally buy their DVDs and you train in in this garage for free. It's $0. So I'm very fortunate. There's one only about 10 minutes away from my house and the guy who runs it is has been studying this for seven years. He's essentially an expert at teaching the beginnings of jujitsu. And it's I mean literally cost me $0. I go there. Yeah it's amazing.
020: Entry Level Middle Class Lifestyle and a FI approach to Insurance Jonathan Mendonsa Very cool. Let's see. So we talked about we've talked about a bunch of stuff already and there's only probably a few line items left that are on my just guaranteed monthly expenses. I mean everybody has discretionary spending and the thing about discretionary discretionary I mean you could just not spend money on that stuff. But there's a few more that are kind of baked into everybody's daily lives that we'll talk about. So food and alcohol. We've gone in depth on this so we're not going to spend a lot of time on this one. But what I found is just tracking it and having a plan can literally cut your food budget by 30 to 40 percent without even blinking an eye. And I found in the past that I could easily spend over 8 hundred dollars a month on food just for two people. I mean that's not it's not it's not difficult especially if there's restaurants and alcohol baked in my wife and I consume very little alcohol just almost none. I'm not against it at all. The problem with it. You know there will be a will by a six pack a mixed six pack and put it in the fridge. But it kind of it slows it down from a fitness perspective. It's not a large social thing for us. So you know just for us that's the nonfactor. I think there's probably room for balance in there. I know people do craft brews people homebrew at home. I think there should always be thinking about the value so if it adds community if it allows you to if it's a hobby for you it's something you know that's your thing that's great. But if you're drinking alone you just have got to ask yourself what the value is a couple of other so auto and gas. I mean this is kind of this is pretty straightforward. If you drive a big SUV or a truck that gets 15 miles to the gallon and or conversely you drive like an econo hatchback that gets 30 miles to the gallon. Let's say that you work 15 miles away. You know one way that that difference over the course of a year is about 500 600 700 dollars just in gas so just you know making a small change like that. Moving to one of these little 30 mile per gallon gas sippers can make a big difference in your life and a budget. And then finally you know travels so Brad and I both have talked nonstop especially episode 9 about how to use travel rewards to travel the world for free. I've told you all in detail how I used to plan on saving upwards of $300 a month so that my wife and I could travel to Africa. You know every couple of years does the family. And that line item has essentially been removed. So just for the sake of brevity we'll kind of use that as a as a final place to stop. But this was just a quick picture at some of the things that Brad and I both have spend money on. Everybody spends money on and then kind of maybe how you could look at optimizing that Brad. Do you have any final thoughts.
020: Entry Level Middle Class Lifestyle and a FI approach to Insurance Jonathan Mendonsa So let's just real quick let's catch up what all have we talked about so far what sort of what sort of things have we unpacked. We walk through how to crush your food budget. We walk through fitness while being frugal. We walked through investment the basic principles of investing with William Collins. We've talked about building a money framework with Mr. 1500. We've unpacked how to save 75 percent of your take home pay with frugal woods. We unpacked tax loss harvesting capital gains and capital losses with go Curry cracker. And we've talked about how to oh my goodness we talked about one of my favorite was millionaire educator how to save 100 grand a year in pretax buckets and the unfair advantage for teachers firefighters police officers. And then we unpack travel rewards how to travel the world for free. So you know it feels like that was so long ago. But at the same time it feels like it was yesterday. And Brad and I had this goal from the very beginning of telling a story and kind of walking you through all these completely different ideas and then building a story and showing you how it fits together so you can figure out how to take all this stuff and put it in your own personal framework and I think at least to that point you know I believe we've accomplished that. But I believe y'all are telling us that we are doing that we are we are we are giving you that content so this is the episode where we just pat ourselves on the back for that and then we keep on going right.
020R: The Friday Roundup Our First Crowdsourced Case Study Brad Barrett Yeah I love that I do not know who said that but that really rings true with me and is how I'm trying to live my life now. And I know you're trying to put this in place too. And I'm not only just in life but on the Web site right. We had this conversation two days ago where it's easy to get bogged down in the million different things you can do for the podcasts and the site. And it's so exciting. But a lot of that is taking you away from your growing family and honestly to me that's just not OK. Right. I told you that I like. I don't want you spending so much time on the site. And on the podcast because your family's more important. And if you focus you and I and everyone out there focuses on that essential one thing and there was a book actually called the one thing which which I've read and it is phenomenal. But if you focus on just that one thing that's really going to make everything else easier then that is value added. And that's how you should be living and. And you really like part of life to me is is getting better at this and having goals. And I know we've talked about this on prior podcasts but a lot of it now is is fitness related. For me I am trying to do two things and it is get into this Brazilian Jiu Jitsu that I've mentioned before and this is a total departure for me. I have never done any kind of martial arts or anything like that. But it's the coolest thing I've ever done and it's probably a 15 year journey to actually get legitimately good at this. And right now I'm terrible. You know I've been doing it for eight months and I mean I'm I'm pretty good for eight months in. But in the grand scheme of things I'm terrible and but but that's part of the fun. Having that that newbie mentality and in martial arts it's a white belt mentality. Just teach me and let me learn and let me try and I'm like the least flexible human being in the entire world. I always have been but I've been really working on that recently. And I know this sounds so silly but but it's just the fact of working on something every single day I'm like I've gotten to the point where when I you always had that. Touch your toes test right and like I mean I couldn't get within a foot of the ground I mean it was pitiful. And now I'm in. I'm at the point where I can almost get my palm on the ground which I turn myself into a flexible person by just working hard every single day and for five minutes. We're not talking spending an hour stretching I mean I don't have that kind of time in my life. But five minutes have five minutes to do anything. Right. And and that's what I would say for the audience so I know we're focusing a ton on life hacks here. But but this is really this is the essential part of life. And it just makes everything else easier by doing that. One thing that will actually provide you value.
020R: The Friday Roundup Our First Crowdsourced Case Study Brad Barrett Yeah that's a really powerful one and it definitely touches on all aspects of life. And for me I have found since reflecting on this over the last couple of years I found I have tried to remove a lot of the negativity from my life and a lot of just the inane conversations that I just don't want to deal with. And I just get no value out of and. And to me it's finding people that you enjoy being around who challenge you to be better. And for me a lot of it has come from people in the FI community and I'm constantly e-mailing with Brandon from the mad Fientists or Carl from fifteen hundred days. These are the people who I'm I'm closest with in this world now and we talk about little things we challenge each other even Carl and I are doing some kind of actually that fitness stuff that I had talked about previously where you know running a mile in X time and doing X number of pull ups and push ups and things like that and Carl created a Google Doc that we're sharing that we're keeping each other up to. And we're also involved. Steven who is the organizer of the camp mustache. Jonathan I went down in down in Florida or the three of us are now just kind of e-mailing back and forth and keeping each other accountable and little things like that that just make such a difference.
020R: The Friday Roundup Our First Crowdsourced Case Study Jonathan Mendonsa That's super cool that that reminds me of two things one essentially what you're saying there's another quote out there and you probably know who said this. I don't do one thing every single day that matters and then apply that across the board. So if your goal is fitness What's the one thing you're going to do for fitness today that matters. If your goal is self-development What's the one thing you're going to do to develop yourself. If your goal is financial independence What's the one thing you're going to do today to get yourself closer to financial independence. You can apply it across the spectrum but if you've just focused on the one thing the end of the year you're going to be 365 steps closer to your goal.
021: The Pillars of FI Jonathan Mendonsa I am horrible with cars. I have this has always been the bane of my financial life. I'm just so bad at it. But the conclusion that I've come to is and I've always been that I've never actually purchased a brand new car in my life so that's my little win in this. But I think like for me more and more as I look at the math more and more I'm just thinking you know if you can just be satisfied with that at least five year old car that's got relatively low miles. It's already taking the depreciation hit the Brad talked about. And so you're just not throwing $100 bills out the window every single week in depreciation those add up those add up to real dollars over time. And so I think you know more and more the common theme that I've seen is get a gas sipper that makes sense we can all visualize gas costs get a gas sipper that's five years old. Get one that so it's or meaning gets great gas mileage to get one that's easy to repair. So lots of old parts out there if they were to actually need a repair you're not going to. It's not an Audi where we're going to have to have something imported or a Land Rover or something crazy like that where just the single part is going to cost you triple what it would in a Honda. And then you know because if you want the best of both worlds get something with a fair amount of storage space so like one of these economy hatchbacks. So next week we're going to we're going to actually do the true cost of car ownership The Ultimate Guide to the true cost of car ownership. And we're going to go through the high level math. So big picture what it's going to what that will save you over a period of 20 to 40 years and then low level. What is the cost of depreciation maintenance taxes. I mean on an annual basis what is your car choice actually costing you and then with those two sets of information you can then go and analyze it with your cars and you can figure out exactly how much you're losing. You know based on your current set up and then if you made a decision to switch to something else you can pretty easily figure out what that might look like. And I think there's just a very very fraction of people a very small fraction of people that actually win with cars meaning they buy it at one price they drive it for three years and even after they take the that is the small amount of depreciation they end up selling it and making enough profit to offset some of their other costs. That is a rare breed and I'm not one of them but I can tell you average Joe Schmoe that just goes out and buy something brand new off the street. You know their cars probably costs anywhere from seven to 10 grand a year. Just just realistically through and we'll go through that math and take a look at it. But I mean it can get really really absurd when you dig down into it. So that's going to be a really cool episode and it's helping me. So based on that episode that's coming up. I actually have kind of a game plan going forward so that even if I don't win you know with quotes at least I at least don't lose as badly. You know cars or something that are going to cost you money if you make the decision and you'll see after you go to that episode why so many people talk about bikes. It really does make sense. You know whether or not that's feasible for everybody or not you can at least understand from a Maths perspective how powerful riding a bike would be. Right next to that was pillar number three so for Pillar number four we're going to take a look at the food budget. Brad and I talked about this this was Episode 7 where we. Congratulations America you're fat and broken also episode 10 where we did skinny waist fat wallet which is a look at frugal food and fitness. So we really went into some depth there but crushing your food bill is critical. And I think more and more I've come to just settle on Brad's magical number of $2 per person per meal.
024: FI180 Alexis - FI180 I value the fitness classes I like kind of the camaraderie I kind of push myself a little bit further when I'm in a group mentality and so you know. I'd quit the gym membership for a few years and I was like Now I want this back. It was like definitely get value out of it so I'm going to keep this now. And and then once you start to realize what you really do value you know you you get more enjoyment out of your life. It was worth it.
024: FI180 Brad Barrett Yeah I agree completely and it's funny Alexis that I'm the exact same way with those classes at the gym I actually pay extra to get access to you know the unlimited classes. I'm at crunch fitness and it's. It's only like $20 a month. So it's not you know an exorbitant amount by any means. But yeah I just get value out of that and I don't mind spending the extra money. So I think that what you just touched on when you said your happiness has actually increased. You know I'd love to hear a little bit more about that because that that is such a crucial point in this like as Liz from frugal woods said in a prior episode this is not deprivation in any way shape or form. We're living these wonderful lives of abundance where we do focus on happiness so you know I'd love to hear you just kind of expand on that if you don't mind.
024: FI180 Joel - FI180 Exactly. And that's that's that's it for me. I want to spend my days working on writing. I love writing. Working on music. I produce a lot of music and do that kind of thing. I want to have time to do an hour walk each morning have time for a leisurely breakfast maybe spend an hour or two on fitness every day. I can't wait. I've got my I've got my FI schedule already written out.

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