Welcome to Live from the Compound. My name is Michael Bannock. I am sitting here with data scientists for Redholt 12th Management, Nick Madh Julie.

Hello, Michael, how you doing?

We're going to teach you how to spend money without feeling guilty.

Stick around, we'll get into it in a minute. So,

Nick, before we talk about how to spend money, and this is in honor of a really good

blog post that you wrote, that's the genesis of this conversation.

Why do we think the mainstream media,

for lack of a better word, leads

with making people feel guilty about spending money?

I think that whole genre is based on like, oh, the reason you're not rich is because you're spending too much money and so it always keeps this like oh it's attainable only if you do all these things so you have to guilt trip people for everything they do with how they spend money.

Starbucks, you buy a nice pair of shoes, you go out to a nice dinner.

There's always that opportunity cost in the back of their mind that's like you shouldn't be spending this money you should be saving

and investing so you can get rich and that's the only way you're going to do it.

Like when do we think that's starting and why?

I don't know I wish I would love to do the history of that like when that started happening but like there's

been this guilt trip thing that's been going so it used yeah it used to be if you invested

ten thousand dollars in Amazon at the IPO yeah and then it morphed somehow into if you stop drinking lattes.

Yeah, and I don't it's it's those are both yeah they're both on the same realm of like the same spectrum of ridiculousness.

They're just different in in completely different ways.

One is like you have to get super lucky with Amazon.

The other one is like you're moving yourself

to this state where if you, especially if you like coffee,

...