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The Financial Independence Show

The $1 Per Use Rule & A Close Encounter

Jul 3, 2024
Cody & Justin catch up on life events, sharing about house flips, travel adventures, and interesting finance articles. Topics include a California law mandating personal finance education, the $1 Per Use Rule, and the importance of financial literacy in high schools. They also discuss real estate flips, profit expectations, summer travel plans, and the power of compound interest for financial growth.
33:28

Podcast summary created with Snipd AI

Quick takeaways

  • The $1 rule promotes thoughtful spending by evaluating purchases based on practical use, emphasizing value over cost.
  • California's financial literacy law for high schoolers aims to equip students with essential money management skills for navigating high living costs.

Deep dives

A Flexible Approach to Saving Money

Instead of rigid budget restrictions, the $1 rule offers a flexible way to manage finances. The rule involves purchasing items as long as the cost can be justified by the number of times it will be used. This approach prevents impulsive spending while allowing for investments in high-use items, like kitchen appliances or clothing.

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