As the FI/RE movement becomes more mainstream, explaining what the core values and beliefs can be daunting. In this episode, Wendy and Curtis explain six of the core tenets of the community.
Each tenet also embraces specific actions, mindsets, and strategies that flow from the core tenet.
THE SIX FI/RE TENETS
1. Rejection of Consumerism
2. Redefining Retirement
3. Tax Optimization
4. Increased Savings Rate
In this episode, we discuss the first tenet,
REJECTION OF CONSUMERISM
- Embracing frugality – but not at the expense of things that bring value or joy (not deprivation)
- Not keeping up with the Joneses
- Materialism does not equate to happiness
- Elimination of Debt
- Reduction of Spending (cutting cable, reducing housing costs, buying used cars, cutting grocery/food expenses)
One of the first steps to embracing this journey is to really understand WHY you want to obtain Financial Independence.
What is your reason?
For us – it is Legacy and creating a different future for our children.
We are doing that by saving more, spending less and increasing our income.
In the coming weeks, we will talk about each of the core tenets and dive deeper into the principles that flow from each one.
CONNECT WITH US
HAVE YOU JOINED OUR PRIVATE FACEBOOK GROUP YET?
Connect with us and each other. Our group is full of other parents on the same journey. We built our group to share and support one another and grow our House of FI family!
WE HAVE A NEW WORKBOOK!
This workbook is based upon out 7-Step Money Foundations course and can be used as a companion to the course, or on its own.
It is a NO NONSENSE designed to take you step-by-step through your finances and build a solid money foundation so that you can reach your money goals.