📈Just Buy It

Quick I-Bond update: With CPI hitting new highs, I-Bonds which we recommended weeks ago at ~7% interest will soon be climbing north of 9%. So if you haven’t bought it yet there is still time.

As I am writing this I am currently sitting on a flight I paid way too much for, about to pick up an expensive convertible rental car I did not need, and then I am going to spend too much money at a steakhouse for Easter. I am doing all this because one it's fun for me and two I’m doing it for my Grandma (shout out Kathleen). 

All of this is trivial compared to the news that Elon Musk, famed Twitter troll, has submitted a bid to buy Twitter for $43 Billion. Slightly more expensive than my Florida weekend but still a luxury/personal purchase even for a guy with too much money. Paying a premium for a company that has long underperformed is less investment (unless he is just pumping the $4 Billion in shares he already owns) and more like a pet project. 

Now this long preamble is to set up a hot take I have about personal finance. I was inspired to share this thought by one of our personal favorite bloggers Nick Maggiulli of Dollars and Data. He recently expressed my thoughts on increasing income vs cutting spending much more eloquently than I could in an interview. The main excerpt is below…

While saving money is GREAT, the easiest way to do it isn’t skipping Starbucks coffee in the morning, the trip to Florida, or even buying Twitter. And while we understand that making more money isn't easy (although now is a good time to ask for a raise) it is the best way to enhance your wealth over time. 

So here we are a personal finance blog, written by an accounting major telling you it’s okay to spend money.  

You aren’t broke because you bought a coffee this morning, despite what this popular albeit insane personal finance guru tells you. 

While we agree with the premise of saving as much money as possible (and even that it might equal $1 Million), what is the point if you don’t enjoy it?

What’s the Upside?

Instead of wasting your time driving around to save $0.20/gallon on gas, or brewing some shitty Folgers coffee to save $3 at Starbucks, work on self improvement. Read a book, go back to school, or work overtime. 

Better yet, just enjoy life and buy things that make you happy.

We will always advocate saving and try to optimize your returns, but at the end of the day we are human and don’t live life on a spreadsheet. 

Just buy it.

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For Your Weekend

Our round-up of essays, podcasts, and streaming shows to check out over your weekend. We cast a wide net so you don’t have to.

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Read:

Why the Past 10 Years of American Life Have Been Uniquely Stupid by Jonathan Haidt (The Atlantic)

Social scientists have identified at least three major forces that collectively bind together successful democracies: social capital (extensive social networks with high levels of trust), strong institutions, and shared stories. Social media has weakened all three. To see how, we must understand how social media changed over time—and especially in the several years following 2009.

Watch:

Tokyo Vice (HBO Max)

Tokyo Vice is probably one of the best shows on TV/streaming right now. It’s a muscular, old school formula - cops and robbers mucking around in the underworld - viewed through the prism of 90s Tokyo. It’s fantastic and very, very much worth your time.

Chuckle: