Mile High FI Podcast

Perseverance, Financial Growth, and FIRE - Neil | MHFI 251

10 snips
Jan 21, 2025
Dive into an inspiring journey of perseverance and financial growth, as Neil shares budgeting strategies and side hustles. Discover the transformative power of the FIRE movement, and gain insights into effective food budgeting and managing expenses. Explore the emotional aspects of financial stability, from navigating net worth fluctuations to lighthearted stories about timeshare presentations. This conversation not only highlights practical financial tips but also underscores the importance of adapting to life's financial challenges.
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ANECDOTE

Discovering FIRE

  • Neil discovered the FIRE movement after a YouTube video featuring Mr. Money Mustache.
  • Recognizing the location as his own sparked his interest in financial independence.
ADVICE

50/20/30 Budget

  • Allocate 50% of your income for needs, 20% for savings or debt reduction, and 30% for wants.
  • This framework provides structure and helps identify spending patterns.
ANECDOTE

Financial Challenges

  • Neil faced financial challenges including a divorce, job loss, and foreclosure.
  • Despite these setbacks, he managed to walk away debt-free from the foreclosure.
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