Episode 202

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Published on:

29th Jul 2026

How Many Years of Freedom Does Your Car Cost? | E202 Hanna Horvath

Most people can quickly tell you what they love spending money on: travel, concerts, hobbies, or trying new restaurants.

But almost no one gets excited about paying for their car.

Yet transportation is one of the biggest expenses most households have. Between car payments, insurance, fuel, maintenance, and depreciation, the average American spends more than $11,000 each year to own and operate a vehicle. For many families, that's over $20,000 annually going toward something that often feels more like a necessity than a choice.

In this episode, I sit down with Hanna Horvath from Your Brain on Money to explore what our cars are really costing us (and not just financially). We discuss practical ways to reduce transportation expenses, whether you decide to go car-free, become car-lite, or simply make smarter decisions about the vehicle you already own. Along the way, they examine how America's car-centric culture shapes our spending, our communities, and even our relationships.

If you've ever wondered how much faster you could reach financial independence by spending less on transportation, this conversation may completely change how you think about your next car.

Key Takeaways:

  • The expense quietly delaying your path to FI
  • Why your "dream neighborhood" may cost less overall
  • The surprising math behind owning two cars
  • How much freedom cheaper transportation can buy
  • Why going car-free isn't the only smart option
  • The hidden costs of driving beyond your budget
  • Why America's car culture feels impossible to escape

Other Episodes You’ll Love:

What Our Wedding Taught Us About Money | E197 Gaby Deimeke

The Emotional Cost of Ignoring Burnout While Pursuing FI | E193 Jess, The Fioneers

The Hardest Skill in FI: Knowing When to Stop | E190 Joel Larsgaard

Guest Summary:

Hanna Horvath is a personal finance journalist, creator of Your Brain on Money, and an advocate for helping people make smarter financial decisions by understanding the psychology behind them. Through her writing and reporting, she explores how our environments, habits, and cultural norms influence the way we spend, save, and build wealth. Her work frequently challenges conventional assumptions about money while offering practical ways to create a life that's both financially healthier and more intentional.

Connect With Justin

Email me at Justin@FIMinded.com or connect with me on LinkedIn.

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About the Podcast

FI Minded - Financial Independence, Early Retirement & Lifestyle Design
Achieve Financial Independence & Have Fun Doing It
Pursuing financial independence, financial freedom, or early retirement often leads to the same questions: How do I become financially independent? How much should I save? What happens after I reach FI?

FI Minded helps you use money to create more freedom, without turning your entire life into a financial optimization project.

Host Justin Peters explores the decisions behind building a flexible, work-optional life, from reaching financial independence and navigating Coast FI and Slow FI to spending your money, changing careers, stepping away from work, and figuring out what comes after FI.

Each episode combines practical personal finance with conversations about early retirement, lifestyle design, work, spending, healthcare, self-employment, and life after financial independence. The goal isn't simply to reach FI as quickly as possible. It's to make progress toward financial freedom while actually enjoying your life along the way.

On FI Minded, you'll learn how to:
- Reach financial independence without burning out
- Build a flexible, work-optional lifestyle
- Navigate Coast FI, Slow FI, and other paths to FI
- Make smarter decisions about spending and saving
- Prepare financially and emotionally for early retirement
- Figure out what life can look like after financial independence
- Think through the tradeoffs behind major money and lifestyle decisions
- Make progress toward financial independence while actually living your life.

Some of our past guests include Carl Jensen (1500 Days), Jeremy Schneider (Personal Finance Club), Nick Loper (Side Hustle Show), Andrew Giancola (The Personal Finance Podcast), Jordan Grumet (Earn & Invest), Rachael Camp (Work Optional), Jillian Johnsrud (Retire Often), Sean Mullaney (FI Tax Guy), Jill Sirianni (Frugal Friends), Jackie Cummings-Koski (Catching Up to FI), Joel Larsgaard (How to Money), Cody Garrett (Measure Twice), Jesse Cramer (Personal Finance for Long-Term Investors), Jess (The Fioneers), Chris Hutchins (All The Hacks), Diania Merriam (EconoMe), Andy Hill (Marriage Kids Money), Fritz Gilbert (Retirement Manifesto), Maggie Tucker (Inside Out Money), Cody Berman (The Financial Independence Show), Joe Saul-Sehy (Stacking Benjamins), Doug Cunnington (Mile High FI), and and others helping you rethink how to approach financial independence.
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