January Expenses and Leaving Facebook | 9 to FI ep 033

Josh and Elliot Do an Expense Audit: Stop Lifestyle Creep, Cut Money Leaks, and Reduce Big Tech DependenceJosh tells Elliot he was mentioned in ChooseFI episode 586 (“Stop Lifestyle Creep with the Expense Audit”) after emailing in about finding “money leaks” by reviewing Q4 expenses, comparing the process to cleaning out a junk drawer, and cutting about $400/month. Josh and Elliot discuss how periodic expense audits help restore intentional spending habits and reference the idea that each $100/month saved can reduce a FI “fine number” by about $30,000.They share recent budget snapshots: Josh describes January spending as “lumpy,” with about $4,000 in core spending plus another roughly $4,000 in travel payments for a big trip, bringing total monthly spend to about $8,500, while noting improved intentionality compared to earlier spending. Elliot reports a 54.2% January savings rate, about $8,300 in expenses on a little over $18,000 take-home pay, helped by a January reimbursement tied to work’s flexible spending account for children’s tuition; he notes this is the last year of preschool tuition. Elliot’s top categories remain groceries and food/drink; restaurants were about $400, while “groceries” were about $1,470, reflecting both inflation and a shift toward higher-quality food.They discuss reducing spending and “friction” from subscriptions and retailers, including Elliot’s effort to “sever ties” with Amazon, while Josh finds Amazon Prime re-billed after he thought it was paused and plans to investigate. Elliot describes limited Amazon use after canceling Prime (with occasional purchases for a small business and one instance using a family member to obtain lunchboxes). Josh mentions buying the new “Tax” book by Mullaney and Cody Garrett through Amazon when he couldn’t find it locally, and they share a tip from Mile Hi FI about finding inexpensive used books on eBay.Elliot also describes cutting ties with Facebook as part of “cutting allegiance to the billionaires,” noting his main prior use was groups (including local ChooseFI meetups), and that removing the app reduced reflexive checking and “phantom notification” behavior. He mentions a downside: he learned about a friend’s sudden death only because his wife still uses social media, and he missed seeing birthday posts. They talk about Facebook Marketplace and Messenger, with Josh saying Messenger is one reason he keeps an account.They close with media and time-use habits (Josh watches YouTube mainly on TV; Elliot watches YouTube for research on a move to France) and preview a future discussion about Elliot’s potential early retirement and move timeline (possibly about six months), including planning for a drawdown portfolio versus accumulation, referencing Frank Vasquez’s research and Carl from “Mr. 1500” as contrasting approaches.00:00 ChooseFI Shoutout Surprise01:53 Expense Audit Money Leaks03:07 Savings Rate Math Wins04:44 January Spending Lumps09:09 Groceries Inflation Reality12:10 Breaking Up With Amazon16:51 Book Buying Alternatives18:50 Cutting Facebook Ties26:24 Notifications Phone Habits30:59 YouTube Replaces Scrolling34:01 France Move Retirement Talk37:20 Wrap Up And Next TimeDo you have feedback or suggestions? We want to hear from you!Contact Elliot: [email protected] Josh: [email protected] of these products help the show. Thanks for your support!Mint Mobile - We both use ⁠Mint Mobile⁠ and save a ton on our phone plan: ⁠https://fbuy.me/vgAmz⁠⁠Empower⁠ is Josh’s choice for Net Worth and BudgetingWanna create a podcast? We use ⁠Descript⁠Looking for a new credit card?  We’re big fans of ⁠Chase⁠⁠Buy Us a Coffee⁠ - One time donation or monthly, it’s up to youWant to save money on gas? Try ⁠Upside!⁠Books mentioned in this episode:Come find us and subscribe on YouTube: http://www.youtube.com/@9toFI