432 | The Skill of Spending | Mr. Money Mustache

ChooseFI

Brad Barrett | Choose FI Media

Financialindependence, Investing, Firemovement, Passiveincome, Frugalliving, Personalfinancepodcast, Daveramsey, Careers, Business, Earlyretirement, Habits

4.8 • 5K Ratings

🗓️ 10 April 2023

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode: tackling the big issues, the everywhere effect, change and discomfort, and getting the most from what you have.

On this Podcast in recent months, we have made a point to highlight the fact that FI isn't about deprivation. While we do think making a few cuts in some areas is a good thing, we believe in that idea because it acts as a means to an end, with the endpoint being living the most fulfilling life available to you. So how is it possible deprive ourselves in a manner that doesn't leave us feeling deprived? Well, we have to skill up out our spending abilities.! This week we have Mr. Money Mustache on the podcast to discuss the skill of spending and how to approach utilizing your resources to ensure your own happiness and wellbeing. Make cuts in your life where there us a lack of purpose so you can level up areas of importance and passion!

Mr. Money Mustache:

Website: mrmoneymustache.com

Timestamps:

0:51 - Introdcution
4:15 - The Power Of Spending With Less Income
9:24 - Tackling The Big Issues First
17:06 - Change and Discomfort
19:55 - The Everywhere Effect
28:06 - The Power Of Community
31:45 - Getting The Most From What You Have
40:23 - Cost VS Comfort, Wheres The Line?
45:34 - Early Cutting Is Essential
50:53 - Conclusion

Resources Mentioned In Today’s Episode:

More Helpful Links and Resources:

Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
Keep learning or start a new side hustle with one of our educational courses
Commission-Free Investing with M1 Finance

Transcript

Click on a timestamp to play from that location

0:00.0	Hello and welcome to Choose a Fight.
0:02.0	Today on the show I have the great pleasure of welcoming Mr. Money Mustache, also known as
0:07.0	Pete Aideny.
0:08.1	He first appeared here on episode 131, which was actually nearly four years ago, with
0:13.0	his good buddy Carl Jensen to talk about community building, and the Mr. Money Mustache headquarters
0:17.9	that they co-owned in Longmont, Colorado.
0:20.7	And I actually recently heard Pete on Bigger Pockets Money, episode 377.
0:26.1	I heard him talk about something really fascinating, which was the skill of spending.
0:30.2	And when I heard him describe this, I knew I had to have a month to discuss this really
0:33.7	in depth.
0:34.7	And I think this is going to be a really wide-ranging, fun conversation with none other than Mr. Money
0:41.0	Mustache.
0:42.0	Welcome to Choose a Fight.
0:45.0	Pete, this should be fun.
0:52.0	I'm so excited to have you here.
0:53.6	Why, thank you Brad, it is my pleasure.
0:56.2	So you describe this.
0:57.2	I'm going to read off a quote here.
0:59.0	So you said the way I encourage people to think about it is spending less money is not
1:04.5	deprivation.
1:05.5	It is a skill.
1:06.9	It's just like lifting more weight or being able to run further.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Brad Barrett | Choose FI Media, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Brad Barrett | Choose FI Media and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.