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Hosted by Matt from Spills Spot

 

Hi Money Geek readers, thank you for having me!

 

My name is Matt from Spills Spot, a blog where I write about my personal finance journey with the goal of inspiring others to be more interested in personal finance and improve at managing their money. My wife and I paid off $55,000 of debt to reach debt freedom. It was a long journey, but being debt free and building wealth is an incredible feeling, a feeling I want to help other people achieve in their lives.

 

3 Posts You Need to Read This Week

 

Can You Have FIRE and Faith?

 

by Montana Money Adventures

This is one of the most impactful posts I’ve read in months, discussing the intersection of faith and the financial independence movement. Jillian talks about how there will always be people that don’t support us on this journey or don’t understand our goals, but others confusion isn’t our job to fix. Reaching FI has opened her up to do so much more good in her life.

“I think financial independence is the perfect expression of faith. It’s knowing your purpose, wanting to have an impact, wanting to live true to your values. And being willing to buck the trend and make some hard tradeoffs to do it.

I didn’t strive for FIRE so I could opt out of life. FIRE let me fully opt-in. My greatest work is still to come. The only difference is it doesn’t have to earn income anymore.”

 

Can You have FIRE and Faith? |

Last week I attended a conference of 2200 people involved in personal finance and media called Fincon. I was slotted to speak alongside four other familiar faces in the FIRE (Financial Independence Retire Early) community. JD Roth (Get Rich Slowly), Pete (Mr. Money Mustache), Carl (1500days) and Leif (Physician on FIRE).

 

The Four Burners Theory:
the Downside of Work-Life Balance

 

by James Clear

In this post, James talks about the Four Burners Theory. The four burners consist of family, friends, health, and work. The theory states that “in order to be successful you have to cut off one of your burners. And in order to be reallysuccessful you have to cut off two.” This struggle between work-life balance is something we all go through in life and has a major impact on where we end up. This post made me think about what areas I place my life and energy.

“Of course, you are free to divide your time equally among all four burners, but you have to accept that you will never reach your full potential in any given area.

Essentially, we are forced to choose. Would you rather live a life that is unbalanced, but high-performing in a certain area? Or would you rather live a life that is balanced, but never maximizes your potential in a given quadrant?”

 

The Four Burners Theory: The Downside of Work-Life Balance

One way to think about work-life balance is with a concept known as The Four Burners Theory. Here’s how it was first explained to me: Imagine that your life is represented by a stove with four burners on it. Each burner symbolizes one major quadrant of your life.

 

 

Dear Daughter, Welcome to Your Debt Free Life

 

 

by Mr. Jamie Griffin

While I don’t have kids yet, this post was an emotional read. Jamie writes a letter to his daughter, talking about the struggles and sacrifices they went through as a family to finally reach a debt free life. It’s a beautiful tribute and it shows that all the effort has paid off. They are now free to live a happier life with many less restrictions as a result of getting a handle on their finances and reaching debt freedom!

“When we dreamed of you, we dreamed of the life we wanted you to have. Our goal was to bring you into a family that had the freedom to give you more opportunities and options. We didn’t want student loan debt to limit your life experiences. I didn’t want you to have to suffer for our mistakes.

Plus, now that we fixed our money issues, we can teach you all about money. You won’t have to wait until you’re in your twenties to learn like Mom and Dad did. You don’t have to make our mistakes.”

 

Must Read Post from Spills Spot

 

9 Steps to Crush Debt & Reach Debt Freedom

 

This is a post from my site that I’ve selected for you, which details 9 steps that my wife and I used to pay off our $55,000 of debt on our road to debt freedom! Going through this process was life changing for us, and I’m confident that anyone can take a few of these principles and improve their finances.

My message is that you can do this too. You don’t need to have a radical debt payoff story, you just need to make small consistent progress over time. If you’re reading this and you have student loans that feel like they’ll never be paid off, just know you’re not alone.

 Over 70% of college graduates finish school with student loans, which average between $25,000 to $40,000 depending on which sources you use.

 

9 Steps to Crush Debt & Reach Debt Freedom – Spills Spot

Student loans continue to be on the rise, and are one of the biggest issues millennials are currently facing. Over 70% of college graduates finish school with student loans, which average between $25,000 to $40,000 depending on which sources you use.

 

My Geeky Side

 

I don’t consider myself to be too much of a geek, but my fantasy football obsession definitely falls in that category. I play in 2 or 3 leagues per year, including one with my high school buddies that has been going on for 10 years!

During football season I devote many hours to watching games, setting my lineups, brainstorming trade proposals, and reading articles. I even listen to an hour-long daily podcast about fantasy football! It may be geeky, but it is a passion of mine that I thoroughly enjoy sharing with family and friends.

 

Thanks, Matt! Please check out his site at Spills Spot!

 

Recommended Reading:

Move Over Joneses, There Is A New Cool Kid On The Block. Meet Mr. And Mrs. FIRE.

The following is a guest post from Steph of Simplistic Steph. She is a coffee lover, crazy dog & cat mom, podcaster, and has a passion for helping people with personal finance that is unrivalled. It is a huge honor to share her work. Look out the Joneses.

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