Morgan Housel

And then I went to college in Los Angeles.

Where there is a lot of wealth, there are high expectations and there are Lamborghinis and Rolls Royces and whatnot.

And one of my observations was people were happier in Tahoe.

And I think the reason why is because the definition of success in Tahoe back then was a two bedroom house and a pickup truck.

That was success.

In Los Angeles, the definition of success was a mansion.

and a Bentley.

And so it was easier for people in Tahoe to be like, I'm good.

I checked the boxes.

Like, look, I'm successful.

Look at my tiny little house and my beat up pickup truck.

That's success, right?

And so that was like, be careful who you socialize with because you're going to anchor to their level of success.

I had this friend 10 or 20 years ago, and he said, I don't save any money because I don't see the purpose.

All I'd be able to save is 100 bucks a month.

And what's that going to do for me?

And since I don't think it's going to do anything for me, I might as well just go spend it.

And I think, no, that's like $100 in savings.

Or if you do it for a year, $1,200 in savings is $1,200 more independence than you had before.

And again, not if, but when you lose your job or your car breaks down, you're going to realize how unbelievably valuable that money is.