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ChooseFI

How Kyle and Jamie Got Back to Basics and Found Balance on the Path to FI

ChooseFI

Brad Barrett | Choose FI Media

Financialindependence, Investing, Firemovement, Passiveincome, Frugalliving, Personalfinancepodcast, Daveramsey, Careers, Business, Earlyretirement, Habits

4.8 • 5K Ratings

🗓️ 25 November 2024

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Kyle and Jamie Holmson paid off an astounding $123,000 in medical student loans in just three years—all while balancing a waitress’s salary and a resident’s income. Their journey highlights the importance of adopting simple, practical financial strategies while prioritizing essential relationships, health, and enjoyable experiences.

  • Debt Repayment Journey

    •  Paid off $123,000 in medical student loans in just three years!
    • Kyle and Jamie’s strategy included living below their means and aggressively paying down debt while still finding joy in life.

  • Returning to Basics

    •  Simplifying life helped us rediscover what truly matters.
    • The couple focused on fundamental exercises and whole food diets, emphasizing health and relationships over hyper-optimizing every aspect of their lives.

  • Prioritizing Relationships

    •  Investing in relationships over expenses for a richer life!
    • They learned to prioritize spending quality time with friends, enjoying experiences rather than constantly searching for low-cost options alone.

  • Finding Balance in Financial Independence

    •  It's not just about reaching your financial goals; it's about the journey!
    • Celebrating small wins in their financial journey helped maintain motivation and a fulfilling lifestyle.

  • Health and Wellness Focus

    •  Simplifying health routines led to better consistency in exercising and overall well-being.
    • They embraced simple body-weight exercises and calisthenics to support physical health without the burden of complex workout routines.

Actionable Takeaways:

  • Simplify your finances by tracking expenses and focusing on what truly matters. 
  • Make financial discussions a regular part of your relationship to foster understanding and shared goals. 
  • Create a manageable workout routine that encourages consistency and enjoyment. 

Timestamps & Discussion Points:

  •  Kyle's Debt Repayment Journey: Overview of the couple's story and initial approach to finances.
  •  Back to Basics: Discussion on simplifying life and rediscovering core values.
  •  The Importance of Relationships: How valuing time with friends enhanced their life satisfaction.
  •  Finding Balance in Financial Independence: Insights on balancing financial goals with enjoying life.
  •  Health and Wellness: Transition to a simpler approach to fitness with positive impacts.

Key Quotes:

  • "Taking action on simple changes can lead to significant life improvements." 
  • "The greatest prize isn't about reaching that goal. It's everything you do and learn along the way." 

Discussion Questions:

  • What steps can you take to simplify your financial life? 
  • How do you prioritize relationships and experiences over material possessions? 
  • What balance can you find between saving and enjoying life? 

Related Content

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, before we get into the episode, I have two quick announcements. First, we're recording our

0:04.4

eighth annual year-end wins episode, which is my absolute favorite episode of the year. And if you want to be

0:10.0

featured on this, send your 2024 wins in via our new feedback page at choose about.com

0:15.8

slash feedback. So you just go there, click on share a win, and then year-end wins. And you can leave a voicemail if you want to be featured on this episode, or there's an option to write in a response.

0:27.2

And I'm actually going to include some of those in one of my newsletters.

0:30.8

So, yeah, I would definitely appreciate voicemails because I really want to feature them on that actual episode.

0:36.1

So that'll be a lot of fun.

0:37.7

And the second announcement is for the first time in years, we actually have

0:42.0

Choose a Vite T-shirts and now hooded sweatshirts available for sale.

0:45.7

So if you've listened to the podcast, you know I've been trying to make my life simpler

0:48.7

over the last couple years, which is why we went away from selling T-shirts on our site.

0:53.0

But I'm working with the company that our CrossFit gym uses and they make it really easy.

0:57.2

And frankly, they do all the work.

0:58.9

I thoroughly vetted the shirts.

1:00.7

You know how much I care about this.

1:01.9

They're top quality, tri-blende shirts.

1:03.8

They fit great.

1:04.4

They look great.

1:05.1

And I lowered the price as much as possible to make this essentially break even for us because if you want to proudly show you're a member

1:11.4

of the choosing of our community, I do not want to profit off that. The way this works is the store

1:16.8

is actually only open until Sunday, December 1st. This isn't a scarcity thing. It's just the way they do

1:23.1

this batch ordering. We have to hit a minimum number, and when the store closes on 12-1,

...

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