We truly believe less is more, and so we’re challenging ourselves to focus more on subtraction and less on addition. The financial industry and broader world want us to believe that complexity is a necessary evil and will even improve our financial situation, but it’s just not true. We often say comparison is the thief of joy, but so is complexity! One of the most powerful financial moves we can make is focusing on subtracting, reducing our wants, and truly buying into the idea that less is more. By treating complexity as the thief of joy, you can stop running on the hedonic treadmill and start designing a simpler, higher-impact financial life.
Erica joins this week’s podcast as we talk about:
– Why we believe less is more
– Understanding the biological reason we overlook simple solutions in favor of complex additions
– Why financial complexity is often a mask for a lack of a clear plan
– Why subtracting from your “wants” is faster and more permanent than adding to your “haves”
– A tactical hit list for financial pruning
– The “One-In, Two-Out” Rule for managing new financial commitments and digital clutter
– How we can subtract more, and add less, to our lives
Show References:
- Greg’s Wealthfront high-yield savings account referral link:
- Book: The Psychology of Money
- Inside Out Money episode #153 – Return on Hassle – Escaping the Complexity Trap
- Inside Out Money episode #138 – Want What You Already Have – Tactics to Rewire Your Brain
- Inside Out Money episode #060 – Progress Over Perfection – Understanding Perfectionism
- Inside Out Money episode #021 – What Is Enough?
- Inside Out Money episode #013 – Are We Quitting Travel Hacking?
- Inside Out Money podcast #08 -. Trick yourself into spending less money
- Inside Out Money episode #120 – The humility hack – how less ego can lead to more money
- Inside Out Money podcast #069 – Avoid these money mishaps and win long-term
- Inside Out Money episode #058 – Breaking Up With Your Financial Planner – Why and How to Do It
- Invesco QQQ
- VTSAX
- Kathleen’s podcast: The Reframe podcast