Money is all about opportunity cost. Every time you spend on something, that's something you can't spend on something else.

It was shocking to realize how many low-income Americans don't have savings accounts.

A very simple bad decision is to get into debt. And that is very expensive.

The problem with opportunity cost is that opportunity cost is divided among many, many things.

With money we really fool ourselves. We are our biggest enemies with money and there are some things we can do about it. Automatic deductions are a wonderful thing. But ideally, you should wait until the end of the month, you can see how much extra money you had, and you should put that in your savings account. We don't do that too well, and if we did that, we would never save. So, what we do, is we take money out of our pocket into the saving account at the beginning of the month, take it outside of our control and as a consequence, we spend less and we save more.

Money is a great way to get happiness. Right? Lots of wonderful things you can do with money. The question is, are we really optimizing on that? So, if you think about getting lattes and getting cable. Which one of those is actually giving you a greater happiness, and if you have to cut on one of those, which one would you cut? So, I think thinking in terms of concrete terms would help us a great deal.

In life we encounter many people who, in some way or another, try to tattoo our faces.