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Key takeaways
- So these are things that you don't really care about like your toilet paper.
- When you don't think about things this way, what you end up with is a house that's kind of not a good investment and also kind of not the one you wanted.
- If you need it, then you make it a commodity.
Chapters
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0:00
Abschnitt 1 I have three buckets for spending money.
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00I have three buckets for spending money. The first is investment. You're maximizing your return. Period. The second is a commodity. So these are things that you don't really care about like your toilet paper. You minimize your dollar spent to get the acceptable amount. The third is enjoyment where you maximize the absolute value rather than the value per dollar. When you don't think about things this way, what you end up with is a house that's kind of not a good investment and also kind of not the one you wanted. It's the sweater that you were like, "Uh, I could buy the one I want, but I'll just get this other one." If you want it, make sure you're buying it for enjoyment. If you need it, then you make it a commodity.