94 episodes

Cody and Justin believe in the concept of "Financial Independence For All". The FI Show focuses on financial independence, personal development, and life optimization. Our topics include, but are not limited to building wealth, saving money, investing, side hustles, real estate, productivity travel rewards and so much more! Once you've graduated from the Dave Ramsey School and achieve debt freedom, you'll be looking for something else. Well, here it is! We cover ideas and thoughts from the greatest in this space such as Tim Ferriss, Mr. Money Mustache, Joe Rogan, Tony Robbins and more, but with our own personal twist. Welcome to a community of like-minded people who are taking back their time and their lives in the pursuit of financial independence. Are you ready to improve your life?

The FI Show Cody of Fly to FI and Justin aka Saving Sherpa

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    • 4.8, 132 Ratings

Cody and Justin believe in the concept of "Financial Independence For All". The FI Show focuses on financial independence, personal development, and life optimization. Our topics include, but are not limited to building wealth, saving money, investing, side hustles, real estate, productivity travel rewards and so much more! Once you've graduated from the Dave Ramsey School and achieve debt freedom, you'll be looking for something else. Well, here it is! We cover ideas and thoughts from the greatest in this space such as Tim Ferriss, Mr. Money Mustache, Joe Rogan, Tony Robbins and more, but with our own personal twist. Welcome to a community of like-minded people who are taking back their time and their lives in the pursuit of financial independence. Are you ready to improve your life?

    Money Coaching as a Business | Whitney Hansen

    Money Coaching as a Business | Whitney Hansen

    Today's episode features a real Money Nerd, Whitney Hansen.



    Whitney paid off $30k of debt in 10 months. She also bought a house at 19 and got her MBA for $472.



    She started out life with some hardships but that fueled her interest in personal finance.



    Now she's taking her lessons and empowering others through financial coaching.



    Listen, learn, and let us know what you think about Whitney's awesome insights.

    Episode Summary

    Whitney's Background



    * Whitney's parents separated after an abusive relationship

    * They then moved to Boise in a two-bedroom apartment

    * Her mom was supporting them with $7.25 of income

    * This was all to support a family with six children

    * Whitney tells a story of how excited she was to get a mattress out of the trash

    * This was when she was 18



    Helping Others Save



    * Some people think they can out-earn bad spending

    * Whitney's #1 point is to find the values and "why" of the person you're trying to help

    * Not all tactics are going to resonate with people but leading by example is a great start

    * She also talks about being relatable

    * If you only share the wins, it can seem unobtainable



    Start of Financial Coaching



    * Whitney was $30k in debt but working two jobs

    * She focused and paid off all her debt in 10 months

    * After that people started hitting her up for advice

    * That's when she discovered financial coaching



    Money Coach vs Financial Advisor



    * Money Coach's can't tell someone what type of insurance they should buy

    * They shouldn't tell a client to buy a specific stock

    * They also shouldn't try to give specific tax advice

    * Instead, a Money coach should focus on saving, philosophy, and just holding them accountable.



    Tips to Becoming a Money Coach



    * It's important to understand how hard a client is willing to work

    * It can change how you work with them or if you should work with them at all

    * You also should start coaching for free or heavily discounted

    * That way you can see if you really want to do this before getting too invested



     

    Key Takeaways



    * Pressure makes diamonds: We loved how Whitney took her circumstances and used them as motivation

    * Speak their language: Whitney talks about resonating with people about money. You have to meet them where they are and not just try to force them into doing things that worked for you.



    Call to Action



    Take and share financial tips with someone. Try some of the tips Whitney mentioned and really try to resonate with the person.



    Join the Community

    We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!



    * Sign up for our exclusive newsletter

    * Join our Facebook Group

    * Leave us a voicemail

    * Send an email to contact [at] TheFIshow [dot] com



    If you like what you hear, please leave a rating/review!



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    • 43 min
    Playing with FIRE | Scott Rieckens

    Playing with FIRE | Scott Rieckens

    Today's episode features the star of the Playing With Fire documentary, Scott Rieckens.



    Scott found himself saving 8% an heading towards a lifestyle that seemed unsustainable.



    The FIRE movement showed him that his value/happiness was not aligned with his spending.



    Scott and his wife made an amazing transformation and shared it with the world.



    Listen, learn, and let us know what you think about Scott's amazing journey.

    Episode Summary

    Scott's Background



    * His Dad was in the Navy so he picked up and move many times.

    * His Mom would always try to pick up a job at the new location

    * She also handled the bills and investing outside the pension

    * At a certain point, Scott realized his lifestyle wasn't sustainable

    * He was trying to take on more and his spending was also increasing

    * Then he found the FIRE community

    * That took his focus just from income streams to also include responsible spending



    Entrepreneur Focus



    * Scott found himself laid off three years after college

    * He and a friend spent three months to put together a business plan

    * They raised a couple hundred thousand dollars to build an indoor golf center

    * But as they worked the projections, they ended up scrapping the idea

    * Then he goes back to the drawing board and back to the small business center for help

    * When Scott goes there for advice, the advisor realizes Scott has social media experience

    * In 2009, very few people had this experience and the advisor encouraged him to pursue that route

    * From then on, he's been an entrepreneur

    * Scott recommends the book The War of Art for entrepreneurs



    Embracing FIRE



    * Scott recalls the Chautauqua trip in Ecuador with people from the FIRE movement

    * There he learned that if this didn't work, he'd just be going back to work like everyone else

    * That realization made him feel much more comfortable with the attempt at hitting FIRE

    * Scott then breaks down why everyone doesn't embrace a journey of financial independence

    * Not being in the right place in life or being afraid of what they could uncover

    * We also talk about the taboo around money



    Playing With Fire



    * Scott's original idea was to go around interviewing people about the movement

    * Then it swapped to him actually going through the journey and transformation

    * He talks about how difficult and invasive the documentary

    * Scott also the moments the camera missed

    * Now Scott is taking the Playing With FIRE brand into a Podcast



     

    Key Takeaways



    * Awakening: It's so cool to listen to someone explain the process of totally shifting your outlook on life as Scott did with his spending

    * Strong Minds: We love all the parallels Jed draws between his mindset and process in the NFL to be successful on the outside



    Call to Action



    Make a list of the 5 things that you value the most and that brings you the most happiness. Then reflect on what percentage of your budget is spent on items from this list.



    Join the Community

    We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!



    * Sign up for our exclusive newsletter

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    • 55 min
    NFL Star Turned Personal Finance Educator | Jed Collins

    NFL Star Turned Personal Finance Educator | Jed Collins

    Today's episode features the former #1 NFL Fullback and author of Your Money Vehicle, Jed Collins.



    Jed had realized his dream of reaching the NFL but with that first big check, came a lot of fear.



    Since that point, Jed now embraces fear and shares the lessons he learned with young players and people all over the country on how to take control of their finances.



    Listen, learn, and let us know what you think about Jed's amazing ride.

    Episode Summary

    Jed Collin's Entry to the NFL



    * Jed talks about his first big check

    * He knew he'd already spent it all before he even opened it

    * The money had gone towards an engagement ring for his now-wife

    * Jed entered the league as an Undrafted Free Agent so the NFL wasn't a given

    * But Jed had an accounting major so he had a fallback

    * He talks about how having a fall back plan is actually looked down upon

    * He also admits that he understood corporate finances but didn't resonate on a personal level



    Helping With Rookies



    * Jed goes to sessions around the combine to educate rookies on personal finance

    * Some of these rookies struggle with peer pressure around luxuries like cars and jewelry

    * But a lot of pressure is actually from families that they're now supporting

    * There are also things like rookie dinners were these young kids are dropping $27k on dinner

    * And that's for veterans who don't need anyone to buy them a thing

    * The Rookie minimum is almost $600k now



    NFL Members Don't Comprehend What They Make



    * Players don't comprehend the difference between contract value and take-home pay

    * The money coming to you is heavily taxed

    * You also are not guaranteed a spot on the team for the full contract either

    * There is a pension system for those that make it three years in the league

    * But this doesn't kick in until 55

    * It equates to about $500 per month for every year in the league



    Mindset Comparisons: Money and Football



    * Jed was actually cut 13 times

    * And later in his career, he was named the #1 Fullback in the league

    * That just shows how unstable it can be for a player in the league

    * He feels that there are a lot of parallels between someone being successful and life and sports

    * He also shares stories about Drew Brees that just shows how dedication and process can lead to success



    5 associations of money



    * Jed talks about automating what you do with your money

    * He breaks it down to 5 money areas or associations

    * These (not in order) are:



    * Society aka Taxes

    * Past Decisions - Rent / Bills / etc

    * Present Day Actions - Day to day choices

    * Future Choices - Investing / Saving

    * Compassion - Donations / Giving







     

    Key Takeaways



    * Peer Pressure: Jed talks about how powerful peer pressure is and it's obviously not just a concern for kids in school

    * Strong Minds: We love all the parallels Jed draws between his mindset and process in the NFL to be successful on the outside



    Call to Action



    Divide your spending up into the 5 associations that Jed discussed and automate where your money goes



    Join the Community

    We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community!



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    • 52 min
    How to Make Money in the Rideshare Economy | Harry Campbell from The Rideshare Guy

    How to Make Money in the Rideshare Economy | Harry Campbell from The Rideshare Guy

    Today's episode features Harry from The Rideshare Guy



    Harry started down a very traditional path -- an engineer in a cubicle.



    Then in 2014, he started moonlighting as an Uber & Lyft driver.



    He started a blog and began sharing real data that helped drivers know the Do's / Don'ts and ultimately how to make more money.



    Today, his blog has an insanely large following and it continues to expand into more and more areas.



    He's also launched a course, Maximum Ridesharing Profits, to teach new side hustlers how to take advantage of the rideshare economy.



    Listen, learn, and let us know what you think about Harry's amazing ride.

    Episode Summary

    Harry's Journey to Side Hustling



    * Harry remembers when he realized he could sell chips from his lunch as a kid

    * His lesson was that when people want to pay for something you need to find a way to accept it

    * Harry took a fairly traditional route career-wise

    * He got an engineering job and worked the cubicle environment

    * But Harry was used to entrepreneurial ventures

    * From selling chips to doing laundry, and then driving Uber / Lyft on the side in 2014

    * Harry then goes over the moment he realized traditional employment just wasn't enough

    * It was realizing a fellow employee had been working in the same building for 40 years

    * He was also having a lot of fun driving for Uber / Lyft and making $35-$30 per hour



    * The pay was higher back then as fewer drivers were available







    Finding a Career Via Uber / Lyft



    * Harry never really wanted to drive for a living but enjoyed the process

    * So he started The Rideshare Guy

    * Here he would lay out very clearly and thoroughly all the things you should consider as a driver

    * The blog started growing and surpassing the money he made in his regular job

    * It also didn't seem scary because his boss left the door open to return



    Frugality and Lifestyle inflation



    * Harry talks about how he is reasonably frugal but not extremely

    * He also talks about how some lifestyle inflation is positive

    * Nothing over the top but things that make his life more comfortable and less stressful



    Deeper info on Uber / Lyft and Rideshare Guy



    * It's important to keep in mind the pros/cons

    * One big benefit over a similar paying job is the flexibility

    * It also gives you good practice to balancing accounts for running a business

    * At the end of the day, all the things on the sites are just logistics

    * Getting something from point A to point B

    * He also talks about some of the locally specific gigs

    * These may pay more and even come with more traditional benefits



    Getting the most out of being an Uber/Lyft driver



    * Harry recommends a used fuel-efficient car, imagine a ~2014 Prius

    * Then he talks about options that allow you to only do pickup/drop-offs along your route

    * So you could add this into your normal day

    * Then Harry talks about liabilities

    * Different insurances and protections to keep customers from coming after your assets

    * It's not worth ruining your life over a side hustle if you have a lot of assets

    * If you don't have much to your name, it's a little less stressful

    * Another good tip is driving weekend nights and workday commutes

    * It's also important to keep up with miles to deduct those expenses from your taxes

    * Check out his course, Maximum Ridesharing Profits,

    • 50 min
    Creating the Next Generation of Financially Literate Citizens | Rob Phelan

    Creating the Next Generation of Financially Literate Citizens | Rob Phelan

    Today's episode features Rob from The Simple Startup.



    Rob had an interesting childhood were he got most of his early education in Ireland.



    This gave him an opportunity to be exposed to unique learning environments that don't typically exist in the United States.



    Now Rob is leading by example and teaching his own students these valuable lessons of personal finance and entrepreneurship.



    He has also taken it one step further by creating a workbook that can spread these lessons to everyone.



    Listen, learn, and let us know what you think about Rob's amazing lessons.

    Episode Summary

    Rob's Upbringing



    * Rob feels like he had a lot of great influences early but didn't bite on the advice

    * In his elementary school in Ireland, he was involved in some saving focused programs

    * About two years ago he started getting involved with teaching financial literacy with younger kids

    * Rob was born in the United States but was in Ireland most of his life until age 21

    * He comments that you don't see the drive for FI in Ireland that he's seen here

    * We discuss differences in pension systems and wages between Ireland and America



    How Rob Became a Teacher



    * He had several options to choose from between sports medicine, architecture, and teaching

    * Rob mostly went with teaching because he got the summer off and he loves getting outdoors

    * Even the subject he was going to teach just sort of fell into place

    * Rob actually started teaching in 2014



    Taking Money to the Next Level



    * Rob admits his wife was better with money when they first met

    * That gap he was noticing drove him to take money more seriously

    * Within 12 months of marriage, they paid off all of their $20k of debt

    * After his debt was paid off, he started focusing more on financial independence



    Origins of Rob's Love for Entrepreneurship



    * Rob's high school in Ireland offered him a gap year that is all around self-development

    * His business teacher made them actually start their own businesses

    * The kids were in charge of the full cycle

    * Rob says it was basically the Lean Startup Model

    * Finding something that can be started with resources you already have on hand

    * That first business was selling baked goods which sold at school

    * They profited about 500 Euros

    * The group actually had their own custom stall and custom aprons



    Educating the Next Generation of Financially Literate Citizens



    * Rob asks his students on a skill they'd like to learn but never have

    * Then he challenges them to learn that skill without his help and prove their mastery of it

    * Something like changing the oil in a car and creating a YouTube video teaching others to do the same

    * Then he started a club called The Millionaires Club

    * This club is fully self-funded without fundraising

    * They get their money via business they run themselves and can keep 10% of the earnings

    * As he started building out resources and structures for this he decided he should build a workbook

    * This workbook is an actionable workbook that's very interactive and not just something you read

    * He calls it a how-to guide around starting your first business

    * It's really targeting teens and young adults

    * This workbook covers the full lifecycle

    *  Finding a need, building the business, handling the finances, and pitching it to others



     

    Key Takeaways



    * The Lessons are versatile: Whether it's business,

    • 42 min
    How to Adopt a Frugality Mindset | Gina from The Frugal Convert

    How to Adopt a Frugality Mindset | Gina from The Frugal Convert

    Today's episode features Gina from The Frugal Convert.



    Gina has a powerful story of being alone and broke at age 19 with a child to take care of.



    She didn't let her circumstances define her and took control of her life.



    Then over time, things began to slip again and she realized she needed to change at a more conscious level.



    Now she's a full-fledged frugal convert and closing in on financial independence.



    Listen, learn, and let us know what you think about Gina's wild ride.

    Episode Summary

    Gina's "Jar of Pickles" Moment



    * Gina found herself 19, newly married, and pregnant and totally broke.

    * Her then-husband took her phone, car, credit cards...everything

    * She was hungry and alone in her home and had nothing to eat but pickles

    * Then she found herself on the floor crying

    * Gina then started going through all the bad decisions she'd made in her life that led to this

    * But then she decided she could take control

    * She divorced him and life moved on

    * Now she's married to the man of her dreams



    Gina takes steps back again



    * Things were going well for a while after her wake-up moment

    * Then Gina got comfortable and started racking up credit card debt

    * She and her husband were happy and well employed but her habits hadn't changed

    * Then they found themselves in over $100k in debt

    * Earlier in life, she had racked up debt

    * She had done this because her rent was $1150, she was going to college, had a kid, and only earned $1200 per month

    * Gina would get a loan to consolidate her debt but then keep racking up more with the new limit



    Making Habits Stick



    * Gina realized that she would have to really change her habits to turn her life around

    * Her first step was to start really tracking her spending

    * It wasn't cold turkey, she just lowered the frequency of disposable spending

    * Eating out once a week instead of three times a week, etc

    * She admits she tried to make a budget before she tracked her spending

    * That is generally a big mistake and leads to failure

    * Without a point in time, it is hard to make reasonable projections

    * She also says that a budget should be a living document

    * It can't be something you set and never adjust

    * Gina utilizes an excel spreadsheet and breaks it into four categories

    * The first is survival - food, utilities, rent

    * The second is debt

    * The third is extras - Netflix, eating out, etc

    * The fourth is fun money - even if you still have some debt to pay off



    Redefining Frugality



    * It's not about deprivation, it's about reprioritization

    * It is fun and rewarding to be frugal

    * You become picky about what you spend your money on and only focus it on things you're excited about

    * She also began to realize that she was actually just buying things because it was a habit

    * It wasn't that she needed them or even wanted them long term

    * Now she's much more into decluttering and keeping things simple

    * Finally, Gina walks us through how this is all possible in Los Angeles

    * She also shares budgeting with her kids

    * They don't feel deprived, they are just getting educated and comfortable with money



    Leaving A Legacy



    * She really wants to follow her passions full time and step away from traditional work

    * Gina also wants to get more into real estate and having extra streams of income

    * In 2007 they had bought a condo, then the 2009 crash happened

    * Her husband lost his job because it was tied to the mortgage ...

    • 44 min

Customer Reviews

4.8 out of 5
132 Ratings

132 Ratings

c for elery ,

C for Celery

Cody and Justin are incredible. They break down financial concepts into easy to consume morsels and teach me so much.
So glad I subscribed!

Fffffffhdgghjfddhiogg ,

Learn something new every episode

I’ve never been into podcasts before, but once I heard Cody & Justin, I was hooked! I’m learning so much from each episode and can’t wait to implement all of these financial strategies into my life :)

Hans Benito's dad ,

Bing worthy Podcast

Cody and Justin have a binge worthy podcast (I know as I just binged listened to every episode). You or your bank account will not be disappointed if you dedicate your time to this podcast. Also Justin thank for your service to our country.

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