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ChooseFI | Financial Independence Podcast

The Hobby Checkbox

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Investing, Business, Careers

4.85.2K Ratings

🗓️ 13 July 2018

⏱️ 54 minutes

🧾️ Download transcript

Summary

Every dollar you earn as a teenager compounds into thousands by retirement. Yet most people skip the one strategy that makes this possible: attacking college costs while still in high school. This episode tackles listener questions on maximizing scholarships, choosing strategic college jobs, and evaluating whether your hobbies actually add value to your life—or just fill time. Key Topics & Timestamps: [00:02:31] Celebrating Personal Wins Jonathan shares a thoughtful gift from his mother, inspiring family adventures with map planning. [00:11:44] College Preparation Initiated in High School Starting college preparation early through AP courses and local scholarships. [00:17:00] Earning Early Matters Dollars earned in your teens carry more weight than a dollar you earn in your fifties. [00:18:19] Scholarship Application Templates Create templates to streamline scholarship applications and avoid reinventing the wheel. [00:28:24] Hobbies with Overlapping Benefits Seek hobbies that offer overlapping benefits: fitness, social connection, skill development, and enjoyment. [00:36:17] Reflecting on Time Spent on Hobbies Reflect on how your hobbies impact your life positively. [00:51:15] Financial Education in Early Adulthood Understanding financial principles in your early twenties sets the groundwork for future financial independence. [00:54:04] Closing Thoughts Summary and conclusion of key takeaways. Notable Quotes: "Start prepping for college in high school for maximum impact." – [00:11:44] "Dollars earned in your teens carry more weight than in your fifties." – [00:17:00] "Utilize templates to streamline scholarship applications." – [00:18:19] "Seek hobbies that offer overlapping benefits and value." – [00:28:24] "Reflect on how your hobbies impact your life positively." – [00:36:17] Related Resources: J.L. Collins' The Simple Path to Wealth Dominick Quartuccio's book, Design Your Future Vincent Buglisi's book, Freelance to Freedom

Transcript

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0:00.0

Today on the show, we talk about the five checkboxes of Hobbies.

0:02.8

Evan shares how choosing FI is increasing his income by over $600 a month.

0:07.6

Charlene shares her second-generation FI win and Brad's mom gets him the best gift ever.

0:13.2

Welcome to the Ultimate Crowdsource personal finance show.

0:16.3

This is your Friday Roundup.

0:30.9

If you're looking to unlock his secrets to financial independence and early retirement,

0:38.9

you're in the right place. Stay tuned and join a community of like-minded people who are getting

0:44.3

off the answer. And taking control of their lives in the pursuit of financial independence.

0:50.0

Choose FI, your home for financial independence online.

1:00.0

Alright guys, congratulations. You made it to the weekend. This is your Friday Roundup and

1:09.8

so much to cover in this amazing episode that we had this past week with Cody Berman from

1:14.6

Flight of FI. You know, I think he may be the youngest guest that we've had to date.

1:20.6

But don't let that fool you. That episode was absolutely actionable in every way,

1:27.0

shape or form. And I have to believe that his youth made it relatable and it may make it relatable

1:33.3

for your teen or your child that's getting ready to go to college. You need that

1:37.8

relatability. You need someone that's closer to it. If I have someone that's 45 years old telling

1:42.3

us how they got scholarships in the 80s, that I'm sorry. That's just not going to be helpful.

1:47.4

We need this information now and Cody absolutely brought it. So I'm incredibly excited to circle

1:51.5

back and talk about this with a little bit more depth and help me with this. I have my co-host

1:56.1

Brad here with me today. How you doing, buddy? Hey Jonathan, I am doing quite well. Yeah, this was

2:00.9

a fantastic episode with Cody and he does have a lot of actionable insight and details and he passed

2:07.4

them along and even though he's such a young guy, he's wise beyond his years obviously. He just kind

...

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