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ChooseFI | Financial Independence Podcast

Look Out For Your Community During This Uncertain Time

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Investing, Business, Careers

4.85.2K Ratings

🗓️ 19 March 2020

⏱️ 17 minutes

🧾️ Download transcript

Summary

When the economy hits hard, your local gym, coffee shop, or restaurant feels it first — and your financial position determines whether you can be part of the solution or just another casualty. Brad and Jonathan explore how building financial resilience creates the capacity to support communities during crises without jeopardizing your own stability. Protecting ourselves and our communities during economic downturns requires a mindset rooted in financial resilience and generosity of spirit. The conversation highlights the importance of supporting local businesses, such as restaurants and gyms, during challenging times. Practical examples include purchasing gift cards, prepaying for memberships, and actively investing in the future of these establishments. Financial independence allows individuals to help others in need without compromising their own security. Community connection and thoughtful support can uplift those struggling as we navigate crises together. Sharing resources and creating job boards can further foster a sense of collective responsibility. Being prepared financially empowers individuals to be the change they wish to see in their communities. Chapters [00:00:00] Introduction to Financial Resilience Brad and Jonathan introduce the topic of financial resilience amidst economic downturns and the proactive steps individuals can take. [00:02:00] Understanding the Economic Impact The hosts discuss the ramifications of economic downturns on individuals and small businesses. [00:03:00] Community Support and Generosity Brad highlights the importance of collective responsibility and kindness during tough times. [00:05:00] Real-world Examples of Support Practical examples include purchasing gift cards and prepaying for memberships to support local businesses struggling during economic challenges. [00:12:00] Conclusion and Community Resources Brad reflects on community connections and resources available to help navigate the current crisis, encouraging listeners to engage actively with their local communities. Key Quotes "How can I help as the facts on the ground change?" [00:01:00] "Generosity of spirit encapsulates our community's approach." [00:03:26] "Together as a society, we can navigate challenges." [00:04:03] "Seize this opportunity to connect meaningfully with others." [00:07:02] "Support is crucial for local businesses; they need your help." [00:07:50] Action Items Purchase a gift card from a local restaurant this week. [00:05:43] Consider prepaying for memberships to gyms or services you value. [00:06:19] Participate in community job boards for assistance if you lose your job. [00:14:02] Join a local community group to share resources and support each other. [00:12:16] Resources Thrive Art School: https://www.thriveartschool.com [00:10:23]

Transcript

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0:00.0

Hello everyone, thanks for hanging out with us today.

0:11.6

A wee are going to be diving right back into this financial resilience series, which is

0:15.8

a timely look at what's going on in our world currently, how we can best protect ourselves,

0:21.2

our families, and our communities.

0:23.8

As we said earlier, there's no free pass on this, but being on the path to fire, whether

0:27.4

you're already there or just merely on the path gives you some advantages.

0:32.2

And I think there's a real opportunity for us to be the change we want to see in the

0:36.7

world.

0:37.7

So that is the topic of this conversation today.

0:40.0

And help me with this.

0:41.0

I have my co-spread here with me.

0:42.0

How you doing, buddy?

0:43.0

Hey, Jonathan, yeah, I'm doing quite well.

0:46.1

And yeah, I mean, to your point, there are advantages to being on the path to fire for

0:51.0

you personally, your family, right?

0:53.4

We could look at that selfishly or not.

0:56.0

But there are advantages for your community and society as well, right?

1:02.0

That's kind of the cool part about being in a strong financial position by having information

1:09.3

and looking at the world in a realistic way.

1:12.7

You can take a step back from everyday life that everybody's caught up in and say, all

1:18.5

right, the facts on the ground have changed.

1:21.7

How can I help?

...

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