Morgan Housel

Please, I'm begging you.

It was almost like the more expensive, the better.

As in like- He would feel better.

He felt so good about what he overcame.

The idea that he could say, I used to be homeless and now I'm sending my daughter to a school that costs 70 grand a year or whatever it was.

That was a trophy for him internally.

It wasn't even signaling to others.

It was, I think he went to bed that night being like, I did it.

I did it, man.

And so that whole idea that like a lot of spending is not utility.

It's not even rational.

A lot of times it's filling a psychological hole that you have from some point in your life.

Whatever it might be.

I think I've become much less cynical and judgmental about whatever your thing might be.

So again, when I see the LFR, I don't judge you, but I know there's a story.

And now I have a story.

I have my own insecurities and faults and flaws.

And when everybody does and you express them in a different way, and maybe it's a case I mentioned earlier, I've always been a big saver.

Not even maybe, I would say almost certainly, but part of that came from earlier periods in my life when I had lower self-esteem, very low confidence in my ability to earn a lot of money.

And that has led me to saving money with the idea that like, oh, this is all going to come crashing down soon and I need to prepare for that personal downfall.