- Learning to spend money for happiness is a personal endeavor
- Financial quantities is often a means to determine success
- “Money is so tangible that it is easy to pursue”
- “simplicity” is different from being “poor”
- “All behavior makes sense with enough information”
- “A lot of spending is gasping [for air]”
- There is a correlation between delayed gratification and enjoying your job
- “People are not rational, they are rationalizing”
- Emotions are built by your brain as you need them
- Write down your own obituary, then try to live up to it
- We often mistake the desire for love and respect with the desire for nice things
- People tend to think that doubling their income will unlock happiness
- No one is jealous about how you got there
- Contrast is what makes us happy
- Manage your expectations down instead of increasing the luxury items
- Focus on minimizing future regrets
- The things we regret will change over time
- Independence and purpose should be the goal
- Every penny is spent: some on things while saved money is ‘spent’ on independence
- ‘You don’t want to run out of gas but you are not on a tour of gas stations’
- Avoiding labels helps to keep you flexible
- “Beliefs are not dangerous until they become absolute”
- Brands are about signaling consistency, not quality
- Parents and kids should live the same lifestyle while they are living together
- “The opposite of a good idea can be a good idea”
- We get locked into a cycle of greed: you deserve to be right because you paid the price to learn the lesson
- Avoid having an “accounting hobby”
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