2h • Tips & Resources💡
Financial Psychology
◼ Wealth isn't just about earning more it’s about avoiding
Financial Sludge and high-cost Social Cosplay.
◼Society is set up to steal your capital through normalized habits that drain your account without you noticing.
◼ 9 Things That Are a Complete Waste of Money
◼ 1. Fast Food & Cheap Industrial Sludge
☠ The Trap
☠ Fast food prices are rising faster than grocery prices.
☠ You aren't buying convenience you're buying inflation with extra salt.
◼ The Hidden Cost 85% of menus are ultra processed oils.
◼ It leads to lower energy and missed work.
◼ Reminder
◼ Fitness and appearance correlate to earning 15-30% more income.
◼ Being fit is a financial strategy.
◼ 2. Financial Cosplay Weddings
◼ The Rule
◼ Do not spend more than $5,000 unless you make $1M+ a year.
◼ The Insight Data shows that cheaper weddings lead to longer marriages.
◼ Reminder
◼ Use the wedding money for a down payment on a house (a non-depreciating asset) instead of place cards and flower arches.
◼ Leasing
◼ It's just renting with a smile. You walk away with zero equity.
◼ 4. Low-ROI College Degrees
◼ The Reality: You get paid for skills, not diplomas.
◼ Exceptions
◼ Medicine, Law, Engineering, or if a company pays for it.
◼ Reminder
◼ The College = Success mindset is a boomer dream that no longer fits the modern economy.
◼ 5. Designer & Luxury Clothing
☠ The Trap
☠ It’s financial self-harm disguised as treating yourself.
◼ The Psychology
◼ Luxury triggers imposter syndrome you buy a status symbol instead of an identity.
◼ The Hack
If you must signal, use fake luxury (like a fake Rolex) to enter rooms, then focus on your bank account.
◼ Real wealthy people don't signal.
◼ 6. Fragmented Streaming Services
☠ The Trap
☠ Streaming has become Cable chopped into pieces.
◼ The Warning
◼ If you can't list your subscriptions without checking your email, you are financially bleeding out.
◼ Action
◼ Cancel anything you aren't watching this month.
◼ 7. Startup Equity (The "Monopoly Money")
☠ The Trap: 90% of companies keep you poor by paying below-market wages for paper money.
◼ The Reality
◼ 70% of startups never hit the next round only 4% exit. Because of liquidation preferences, employees eat last.
◼ The 10% Rule
◼ Take what you think your equity is worth and assume it will be 10% of that.
9. Natural Diamonds (Gold)
☠ The Trap
☠ Lab-grown diamonds are chemically identical but "too perfect" for the industry.
◼ Reminder
◼ Don't pay the natural premium for an identical look.
◼ Reminder: Don't optimize the cheapest part of your day (the coffee) optimize the highest leverage parts (the networking)
◼Actionable Principles
◼ Earn Your Way to Wealth
◼ You cannot budget your way to being rich if you aren't avoiding the Big Traps (Cars, Degrees, Status).
◼ Asset vs Liability
◼ If it’s made of leather, canvas, or has 4 wheels, it’s a scam, not an investment.
◼ Stop Signaling
◼ Luxury is a tax you pay for caring what strangers think.
◼ Protect Your Growth
◼ Use tools like business insurance to ensure one accident doesn't wipe out years of stacking assets
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Financial Psychology
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