If you grow up with a lack of money, it can be tempting to be frugal later in life. In this clip, I share with Brentan why I think being frugal is not the key to generating wealth.
I love this topica and couldn’t agree more Evan. I can understand how people value frugality. But there is a hidden cost to frugality. You have to think about it all the time and that has an immense cost that is typically not factored in by people that value frugality. You consume all this mental bandwidth thinking in a reductive framework as opposed to thinking in an augmentative framework where the idea is to generate more as opposed to trim down on what is already there. And it’s not necessarily generating more money. it’s more wealth, whether in the form of well-being, freedom, happiness. I know a lot of people that allow the ideology of frugality to overtake their thought process to the point where they believe that is the only right way of thinking.
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I love this topica and couldn’t agree more Evan. I can understand how people value frugality. But there is a hidden cost to frugality. You have to think about it all the time and that has an immense cost that is typically not factored in by people that value frugality. You consume all this mental bandwidth thinking in a reductive framework as opposed to thinking in an augmentative framework where the idea is to generate more as opposed to trim down on what is already there. And it’s not necessarily generating more money. it’s more wealth, whether in the form of well-being, freedom, happiness. I know a lot of people that allow the ideology of frugality to overtake their thought process to the point where they believe that is the only right way of thinking.