Today’s guest is Phia Zacour. Phia and I talk about the reasons her and her husband pursued and achieved financial freedom, but why the reality of financial freedom did not line up with their expectations when they first transitioned to early retirement.
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Phia is a self-proclaimed total finance nerd and the mother to two amazing kids. Phia and her husband Mike reached financial freedom and retired from their traditional jobs several years ago, when they were in their early thirties. And they did that with two young kids and living in Canada’s highest cost of living cities. Phia is the author behind the Freedom101.ca blog to help spread the ideas of Financial Freedom and help others map out the path to Financial Freedom.
- Freedom 101 Blog | Website
- What sparked Phia’s interest in pursuing financial freedom and the desire to have more choice to tailor their lifestyle
- Why the reality of financial freedom did not line up with their expectations of financial freedom
- How they struggled during that first year of retirement and what she would have done differently before the transition into retirement
- How she has learned to enjoy the simple things in retirement
- The early childhood experiences and the intentional lessons that Phia’s parents taught her
- How Phia’s developed a strong negative association and aversion toward debt in her childhood and how it led to her becoming a saver
- How she bought her first real estate property at 18 year olds
- Why great parents should let their kids fail early and make mistakes, especially as it relates to finances and money, and how it leads to a growth mindset
- The financial and non-financial reasons why parents should not buy their kids a cell phone, including the missed learning opportunities you have in teaching them financial lessons
- Why kids should manage their own screentime and ideas on how to implement a non-monetary token system to help teach them self-discipline, budgeting and responsibility
- Strategies to teach kids 0-2 years old the ability to delay gratification
- Why family meetings are Phia’s favourite way to teach open dialogue about money in general, how often they should occur and why it is important to be consistent
- How calculating cost per use allows you to reflect on spending decisions and how the time invested and the money they earned compares to the value they got out of the item and how it will allow for personal points of reference to be developed
- Simplicity Parenting by Kim John Payne [Amazon Affiliate Link]
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Thanks to Phia for joining me this week!
In case you missed it, make sure to catch up on last week’s episode “Episode 014: Teach Your Kids Great Money Habits with Sam X Renick”!