Saving Less to Live More. Should You Do the Same? | Carl Jensen aka Mr. 1500 - E63

The Best Interest - Complex Personal Finance Made Easy

How do you know when you are taking the right financial road? Should you prioritize saving money to be better off in the future? Or is it more beneficial to ensure you are using money as a resource for happiness in the present? Our guest today, Carl Jensen, has chosen the first option for the majority of his life, using money not as a resource for happiness, but one to defend against hardships. Recently, however, Carl has begun to take this road less traveled to optimize experiences while investing in his happiness. In this episode, we discuss how the household finances of our childhood can affect our spending habits as adults, and how to use exposure therapy to overcome the anxiety surrounding happiness based purchases.

Key Takeaways:

• How the household finances of our childhood can affect our long term financial habits

• Overcoming financial trauma

• How to spread good financial habits to those close to us

• Why taking the road less traveled isn’t always the better option

• How to use exposure therapy to start making purchases for happiness

• How to overcome anxiety around an experience-based purchase

• Stepping away from money-first thinking to focus on the experience

Mentions:

Bigger Pockets Money Podcast Episode with Jesse: https://www.biggerpockets.com/blog/money-335

I Will Teach You To Be Rich Podcast Episode with Carl and Mindy: https://www.iwillteachyoutoberich.com/108-mindy-carl/

1500 Days Blog Post “Why Ramit?”: https://www.1500days.com/why-ramit/

Die With Zero: https://www.amazon.com/Die-Zero-Getting-Your-Money/dp/0358099765

More of Carl:

🌐 Website: https://www.1500days.com

🎙️ Podcast: https://milehighfi.com

More of The Best Interest:

Check out the Best Interest Blog at bestinterest.blog

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The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.