There’s one thing we know for sure. We put our time, energy, and our money towards the things that we value. But what happens when our values are incongruent with our consumption behaviors, placing us in danger of missing out on the freedom associated with living the life of our dreams?

Here to help us explore the intersection between the KonMari Lifestyle and Financial Independence are co-hosts of the House of FI podcast - Wendy and Timika. House of FI helps families who dream of retiring early, but are unsure how to do so AND raise a family, figure out a plan. Their guests share their journey to financial independence, early retirement, and debt freedom.

We want to hear from you! Tell us your burning tidying questions or share stories about how KonMari has impacted your life. Find us at www.sparkjoypodcast.com and click “Ask Spark Joy” to leave a question or comment for a chance to be featured on next week’s show.

While you’re there, sign-up to join our Spark Joy podcast community and get notified when each episode airs. You can also join the Spark Joy podcast community on Facebook, Instagram or Twitter at the handle @sparkjoypodcast.

In this episode, you’ll enjoy:

• The true definition of Financial Independence (FI) or Financial Independence Retirement (FIRE)
• What led Wendy and Timika to start down the path to FI
• Common myths and misconceptions associated with FI
• Timika's marathon KonMari tidying experience with Kristyn and how it relates to her financial journey
• The "eels" that attach to us, as mentioned on John Roderick's podcast
• The end goal: How do you know when you've reached FI?
• How influencers such as Mr. Money Mustache or The Dough Roller have calculated fees associated with actively managed retire accounts
• How to the get over the getting started hurdle when it comes to FI
• The importance of using a tool like Personal Capital to track and manage your net worth
• How the FI community handles healthcare coverage
• The importance of taking and celebrating the small steps
• Podcast's that House of FI recommended to extend your FI community: Journey to Launch and ChooseFI

Wendy's favorite FI tip: Tracking your fixed and discretionary expenses
Timika's favorite FI tip: Wendy's meal planning tips; Refinance your mortgage to a lower rate when appropriate to free up money for debt pay off; Get a roommate, move from a single family home to a multi to generate rental income, or buy a car that's not brand new. Use travel credit cards to generate reward points.

What sparks joy for Wendy: Launching House of FI!
What sparks joy for Wendy: Launching House of FI!!

To hear more from House of Fi, check out their podcast via houseoffi.com or connect with them on Facebook. After catching up on their latest episodes, leave a review of House of FI on iTunes for a chance to win a copy of Kids Money Habits by Amy Koit.

Gems:

• "...essentially, setting yourself up so you're in a position to have choices."
• "People are also beginning to think more about how to optimize their lives so they can do more things that bring them joy on a regular basis."
• "The idea that you have to be extremely frugal to the point of deprivation is one myth."
• "When you add it all up, you see the huge mound of money that's exiting your bank account; just like I saw the huge mound of clothes that my three year old climbed on top of when we put it all in one place and went through it one by one."
• "What is it that you're doing this for? What are you going to retire to? What does financial independence look like?"
• "It's really being more intentional about our money...the balancing of each financial decision..really sticking to the goal."
• "Don't be an island. Make sure that you're connected with other people and a community."

You can find Karin Socci at The Serene Home
You can find Kristyn Ivey at For the Love of Tidy

Special Guest: House of FI.

Tess is offering Spark Joy listeners Free Anti-Budget Training. It's a budgeting method for people who hate budgeting. It simplifies financial management down to one simple number to use every day and is available at: www.wanderwealthy.com/AntiBudget

To connect with Tess Wicks visit www.wanderwealthy.com and join the Wander Wealthy community on Facebook and YouTube. Also, check out Tess’ podcast Words and Money.

Spark Joy wants to hear from you! Tell us your burning tidying questions or share stories about how KonMari has impacted your life. Find us at www.sparkjoypodcast.com, email us at contact@sparkjoypodcast.com to leave a question or comment for a chance to be featured on next week’s show. Join us on Facebook, Instagram, and Twitter via @sparkjoypodcast.

In this episode, you’ll enjoy:

• What improv, kettle bell and playing the violin have to do with personal finances

• How having financially responsible parents led Tess to be a cautious spender who avoided debt

• How to live outside of your comfort zone while taking calculated risks

• How Tess desires to be a minimalist and frugalist in most areas, but leans most towards Essentialism

• How prioritizing what is essential to you and deeming the rest "clutter" helps build awareness around spending

• How important it is to exercise your "saying no" muscle

• The lesson your sunk costs teach you

• Feeling financially overwhelmed? Tess suggests:
  1) Commit time to sit down and look at your finances
  2) Calculate your net worth (everything you own - everything you owe)
  3) Set realistic short-term goals you can accomplish in three months

• How having multiple bank accounts actually helps you avoid being caught off guard by financial surprises

• Why talking about money is so taboo

• How to initiate tough conversations about finances

• How wealthy women put their money to work for them

• How Tess pre-saves for splurges and treats herself, including the five things she won't give up

What sparks joy for Tess: She's finally living and breathing what her brand (Wander Wealthy) is by finding her freedom, taking adventures and enjoying her life while living within her financial means.

Gems:

• "I identify places where I need to grow or challenge myself and I dive into it."

• "If it brings you joy, make room in your budget to spend on that thing."

• "Separating the essential few from the trivial many."

• "Net worth = everything you own - everything you owe"

• "You don't want to be with someone who can't accept you for your flaws."

• "Anyone can achieve financial independence. The hardest part is taking action."

• "Commit and take action for one hour to decide to declutter your financial life."

You can find Karin Socci at The Serene Home
You can find Kristyn Ivey at For the Love of Tidy

Special Guest: Tess Wicks.