Introduction: The Quest of the Simple Life
- lust: luxure
- to wedge out: devenir plus mince
- contentment: satisfaction
- misfit: marginal
- Those happiest with money tend to be those who have found a way to stop thinking about it.
All Behavior makes Sense with enough Information
- bootlegged: marchandise illicite
- snubbed: snobé
- dour: austère
- gaudy: voyant
- egotism: égoïsme
- well-heeled: riche
- meth: méthadone
- bullheaded: entêté
- If you try to make sense of spending habits - yours or other's people - you have to start with the understanding that people don't just spend money on things they find fun or useful. Their decisions often reflects the social and psychological experiences of their life.
- The same product has very different meanings to different people.
- Values are equal to your preferences, and your preferences come from trying to reconcile your current needs with the lessons learned from your unique past experiences.
- Don't let anyone tell you what you should or shouldn't spend money on. There is no "right" way. You have to figure out what makes you happy and fulfilled
- A lot of money problems come from people spending or saving money in a way they think they are supposed to but doesn't match their personality.
- Be careful judging how other people spend their money.
May I Have Your Attention Please
- toil: labeur
- bustle: agitation
- to gawk at: regarder
- hubristic: débauche
- Observe what actually makes you happy and maximize that.
- I love the idea that my friends and family can benefit from the nice things I've purchased.
The Happiest People I know
- to dwell on: s'attarder sur
- plea: appel
- meager: maigre; piètre
- elation: euphorie
- fleeting: bref
- content: satisfait
- You realize that the key to happiness is being content with what you have.
- The key is realizing that happiness is the state when nothing is missing, regardless of the lifestyle you're living.
- Your brain just wants dopamine.
Everything You don't See
- cheerful: joyeux
- gutter: caniveau
- bliss: bonheur
- "I would think exactly how I was going to get there - not just how it would feel to be there"
The Most Valuable Financial Asset Is Not Needing To Impress Anyone
- enamored: épris
- to revel in: se révéler
- woefully: tristement
- capsize: caviler
- outright: complètement
- deceit: tromperie
- to loiter: traîner
- utter: absolu
- impending: imminent
- to ponder: réfléchir
- to despise: mépriser
- snakepit: fosse aux lions
- quirky: excentrique
- Not needing to impress other people, especially strangers, is an asset on your personal balance sheet that can be more valuable than anything else.
- When you don't feel the need to impress other people, your desires fall. When your desires fall, your satisfaction with what you already have grows. It's really that simple.
- Are you spending money on something because it makes people think different of you - like you more, be more impressed with you, maybe even jealous of you - or because it actually feeds your soul and make you happy?
- Being independent, following your quirky habits, and doing what you want, when you want, with whom you want.
What Makes You Happy
- drab: morne
- awe: émerveillement
- to sneak in: entrer discrètement
- to covet: convoiter
- splurge: faire une folie
- lukewarm: tiède
- bland: fade
- slog: galère
- A good life is everything you need and some of what you want. If you have everything you want, you appreciate none of what you have.
- The best drink you will ever taste is a glass of tap water when you're thirsty.
- The gap between struggle and reward is a big part of what makes people happy.
- "Nothing has spread socialistic feeling in this country more than the automobile", "a picture of the arrogance of wealth"
The Rich and the Wealthy
- cursed: maudit
- lackadaisical: apathique
- mercifully: avec clémence
- curse: sort
- gosh: bonté divine
- to hobnob with: fréquenter
- If you are rich, you have money in the bank that allows you to buy the stuff you want.
- If you are wealthy, you have a control over what that money does to your personality, your freedom, your desires, ambitions, morals, friendships, and mental health.
- The Vanderbilts are one of the clearest examples of money controlling a person, rather than being used as a tool to improve their life.
- He was a man built upon morals and individually who just happened to save a ton of money.
- The people I admire most have a way of escaping the bubble of culture. Sometimes via religion, sometimes via old books; sometimes via time in nature. Without such an escape, propaganda wins. You stop thinking for yourself. Modern delusions grow into an all-consuming mind virus.
- I like aimlessly scrolling through social media, but I don't necessarily want to do it - these things are just addictive, and they control the person rather than becoming tools to enhance the person's life.
Utility vs Status
- plush: luxueux
- bragging: vantardise
- vintner: vigneron
- scrawled: griffonné
- knockoff: faux, fausse, imitation
- devouring: dévorant
- damned: damné
- shamelessly: sans vergogne
- to pander: céder à
- notch: cran
- fickle: changeant
- The value of anything is its ability to help you live the life you want. Nothing more.
- Whether you're using money as a tool to live a better life or as a yardstick to measure yourself against others.
- Function, durability, practicality.
- Why you actually want to buy this things.
- Buying things for their utility gives you the ability to express your own identity, while chasing status often makes you conform to other's identity.
- "I write for an audience of one - me"
- The key to success in so many areas of life is endurance and longevity.
- I know with near certainty that I will value comfort, dependability, convenience, and - most importantly - spending quality time with people I love and admire.
Risk and Regret
- thereof: de celui-ci
- slipshod: baclé
- crusty: croustillant
- sneering: ricaner
- preposterous: absurde
- to squander: gaspiller
- merry: joyeux
- Good advice is never as simple as saying "Live for today" or "Save for the future". The only good advice is "Minimize future regret".
- "So much wasted time".
- What a terrible thing to realize when it's too late. And I wonder if it'll become more common as many of us spend our days aimlessly scrolling our social media.
- You need to accurately understand how you'll feel about your current decisions at various point in the future.
- YOLO - "You Only Live Once"
- FIRE - "Financial Independence Retire Early"
- The only good advice is to minimize your future regrets.
- Once you view savings as providing the benefit of independence, you stop viewing saving for tomorrow as sacrificing today.
- Savings has given me independence that allows me a degree of doing what I want, when I want, with whom I want, that makes today - right now - better than it would have been if I had saved less in the past.
- How disastrous envy can be.
Look at Them
- cantankerous: acariâtre
- overlook: oublier
- self-worth: amour propre
- snug: endroit douillet
- panhandler: clochard
- Being jealous of what others have and assuming your life would be better if you were like them is misleading because you are not getting the full picture of their lives.
- FOMO - the fear of missing out - is one of the most dangerous financial reaction that exists.
- Having no FOMO might be the most important financial skill.
- Remove FOMO from the equation and what's left? You only care about your own financial goals.
- When you have everything you need, you immediately shift to focusing on everything you might want, which is a never ending list.
- A lack of envy brings another gift: freedom.
- Spending on independence can be the most wonderful thing money can buy.
Wealth Without Independence is a Unique Form of Poverty
- run-of-the-mill: banal
- furnace: chaudière
- egregious: choquant
- jerk: coup sec
- hush: silence
- "Rich" means not being hurried, spending time with my family, control over my schedule, and intellectual independence. Doing life my way. Independence. That's true rich.
- Money you haven't spent buys something intangible but valuable: freedom, independence, and being able to spend time in your own way.
- I view every cent of savings as a ticket toward a greater degree of financial independence, which is my true goal.
- I have no budget for how much I'm willing to spend on autonomy and spending time with the people I want, when I want to, for as long as I want to.
- Control over what you're doing.
- Workers who rely on government assistance and semi retired workers who rely on pensions. A major part of your financial well-being relies on the decisions of people who may or may not keep it going in the future.
- You wake up every morning realizing that you can spend your time doing what you want, with whom you want, for as long as you want.
Social Debt
- to wow: en mettre plein les yeux
- dinged: moderate damage
- notch: cran
- liabilities: handicap
- When how you spend your money influences what people think of you in unwanted ways.
- "It's very expensive to be rich"
- My strategy is called quiet compounding.
Quiet Compounding
- bumpkin: plouc
- to flaunt: exhiber
- The fastest way to get rich is to go slow.
- "There is only one success - to be able to spend your life in your own way"
- So be careful who you seek advice from, be careful who you admire, and even be careful who you socialize with.
- A great irony in finance is that the fastest way to get rich is often to go slow.
Identity
- hinder: gêner
- peacock: paon
- antler: ramure
- butler: majordome
- relatable: s'identifier à
- contentious: contesté
- willful: obstiné
- wishy-washy: sans consistance
- confine: limite
- When money controls who you are.
- One of the most common ways that money stops being a tool, and become a master, is when your financial goals and beliefs become part of your identity.
- Keep your identity small.
- A lot of financial planners will tell you that a lot of their biggest challenges is getting clients to spend in retirement.
- Refusing to recognize that you've met your goal can be as bad as never meeting the goal to begin with.
- Once you label yourself you've formed an identity that can prevent you from seing the big picture, finding other opportunities, or changing your mind when you need to.
- "A belief is not dangerous until it turns absolute".
Try Something New
- to pore: examiner
- mildly: légèrement
- faint: faible
- mercilessly: impitoyablement
- lumber: bois de construction
- seamstress: couturière
- unwholesome: malsain
- falling hook, line, and sinker: tout gober, tout avaler
- "My secret had been I know what to ignore".
- Find what works and just do that.
- It's impossible to know what you're going to like until you try it, so try everything. But the only way to try a million new things is to have a strong filter that immediately rejects what isn't for you. And, boy, that is also true for spending money.
- You should spend extravagantly on the things you love as long as you mercilessly cut the things you don't.
- There is no guide on what will make you happy - you have to try a million different things and figure out what fits your personality, ruthlessly cutting the rest. Wide funnel, tight filter.
- Consumers who saw the devil logo knew they were getting a specific product made by a specific company under specific quality standards.
- You're not necessarily paying for quality, you're paying for consistency.
- The wide funnel only works if you have a tight filter.
- The more you can say "I tried buying this or that. It didn't work for me", the more you know you're on the right path.
- There's a well-known idea that times feels like it speeds up as you age. One theory why this happens is that the perception of time relies on the number of new and surprising memories formed in a period. Monotony makes time speed up, variety makes it slow.
- "Thank you for believing in me"
- Remember that the ones who love you almost certainly don't want your money as much as they want your love and attention.
Your Money and Your Kids
- moocher: profiteur
- Values, hard work, support, and the opposite of spoiled.
- Waldorf Astoria Hotel in New York.
- "The parent-child bond is the most important relationship for a child's mental health. When a child cannot meet a parent's high expectations, that bond becomes jeopardized"
Spreadsheets don't Care About Your Feelings
- pride: orgueil
- rash: imprudent
- reckless: imprudent
- When emotions are more insightful than numbers.
- Spreadsheets don't care about your feelings. But sometimes those feelings are the most important part of a big financial decision.
The Finer Things
- precarious: précaire
- blisters: cloques
- to solder: souder
- oblivious: inconscient
- The wisdom, and futility, of obsessing over small purchases.
- The point is that small changes at scale yield massive impact.
- Parkinson's law of triviality. It states: "The amount of attention to a problem gets is the inverse of its importance"
- Tending to small expenses can compound into a fortune. They can also suck your attention away from much larger problems.
- The opposite of a good idea can also be a good idea.
The Life Cycle of Greed and Fear
- sneaky: sournois
- delusion: illusion
- hindsight: recul
- to snicker: ricaner
- taunt: sarcasme
- groove: sillon
- It becomes innocent, turns crazy, and ends up right where you began.
- Spending money often requires optimism; saving often requires pessimism.
- There is a natural cycle that causes innocent optimism to evolve into greed, which turns to denial, then confusion, then, eventually fear.
- All greed begins with the most innocent idea: that you deserve to be right.
- We'd recognize that if you did this and then that happened, there are a lot of million other variables you have no control over that also could have influenced that outcome.
- The common form of innocent greed is extrapolating with enthusiasm what worked in the past. It tempts you to do the same thing as before, but with twice the appetite.
- Greed happens when you double down on actions that at one time worked but aren't sustainable, or that cause you to overestimate how influential your actions were on outcomes.
- Maybe the people who in the past rewarded you with attention are no longer around.
- Maybe the people who were excited for your past success are now exhausted from hearing about you.
- Buddhism has a concept called Beginner's Mind.
The Luckier You are, the Nicer You Should Be
- knee-jerk: automatique
- Understand that people who have made different decisions than you, and ended up with a different outcome than you, can be just as smart, funny, insightful, and worthy as you. They do what makes sense to them, and they're trying to find their way in a complex world. You do what makes sense to you, and you're trying to find your way in a complex world.
- And so we end right where we began, with a reminder that all behavior makes sense with enough information, and we are all on our quest for the simple life.






