25 min listen
#020 | Corona Quarantined + Salary Cuts
Fromfriends on FIRE
ratings:
Length:
25 minutes
Released:
Mar 22, 2020
Format:
Podcast episode
Description
Mike surprises Maggie with a Friday night phone call that turns out to be a podcast episode. Apologies for the poor audio quality on this episode. We are both quarantined and still working through how to record remotely. For those listeners that don’t know, Mike and Maggie work for the same company and they work in the travel industry. Due to the impact of Coronavirus on the travel industry, they both got the news Friday morning that their salaries are cut 20% along with many other benefits temporarily stopped. Maggie rambles on various thoughts, as usual, and Mike does his best to keep them both on topic. Mike and Maggie talk about the range of impacts on people, from losing just one paycheck to the impact on the FIRE (financial independence retire early) community. We share our impromptu thoughts and advice on how to handle what is happening right now:Be cautious about how you’re spending your money. Consider changing your habits now, in anticipation for what will be tougher times ahead for many. Prepare for the worst - act like you’ve already lost your job.Follow what’s happening in the world and in the economy, and ensure you’re educated to make the best decisions for you as possible. Do this without watching the 24/7 news cycle as that’s just too much and not healthy for most. Find the right balance of staying informed, but not getting obsessed with the news cycle. Practice gratitude. Find the good in what’s happening around you day to day. Notice and appreciate the silver linings of the things happening around you. Control what you can, and don’t dwell on the things that you can’t control. You can mostly control the way you’re spending your money. Do your best to get through what is a tough time for many people on many different levels. ---Follow friends on FIRETwitterInstagramFacebookLinkedInLeave us a voicemail or text us: 404-981-3370eMail us at: friendsonfiremm@gmail.comVisit our website: www.friendsonfire.org---Other LinksMaggie’s Blog: Mostly Minimal LifeMike’s Book: Your New Relationship with Money
Released:
Mar 22, 2020
Format:
Podcast episode
Titles in the series (100)
#010 | Car Insurance Is Just As Bad: If cars are the worst, then car insurance is just as bad! We follow up our cars episode with a discussion on car insurance. We share what we’re paying on car insurance and our thoughts on the true purpose of car insurance. We then dig into our top tips for deciding on how much car insurance you need, which features you do or don’t need, and more. by friends on FIRE