Comments on: The Life Philosophy of Money

By: Fabrice Grinda

Fabrice Grinda — Tue, 02 Sep 2008 10:35:20 +0000

My point was not to write how to live with little money. We humans adapt surprisingly well to changes in our financial circumstances for the worse. I also believe that we should not get attached to material goods – be they money or products – but instead cherish our life experiences, our friends, family, etc.

However, that is besides the point I was trying to make. When someone is blessed with the financial independence my host has, he should be much more grateful towards his life circumstances and enjoy his life much more than he actually does!

By: anouch

anouch — Mon, 01 Sep 2008 23:47:31 +0000

1)To avoid the pain of using VOIP or some discount calling mechanism, WHY did’nt you use your own mobile phone ? ?
2)A boat is as useless as a luxury car
3)Avoiding waste on electricity or fresh water is an ecological attitude
4)You should broaden your mind and imagine that others may have a different frame of references :”Of life, money and philosophy” or “the life of money” or “The philosophy of life (without/ with) money…….. etc … 3 key words and so much to think about . Le titre était prometteur, le contenu décevant.
5)I wish that your south of France host is only a very occasional reader of your blog.

By: Fred

Fred — Fri, 29 Aug 2008 00:11:00 +0000

Alot of people that way. Most of the voters of the USA !

By: William

William — Wed, 27 Aug 2008 21:33:48 +0000

Saying that, the outside lights in your house of L.I are not working since months…

By: Stacie

Stacie — Mon, 25 Aug 2008 14:19:41 +0000

I know it seems “irrational”, but for some reason consumers get a huge amount of utility out of thinking they got a deal or somehow “saved” money. I remember reading a study a couple of years back that said that people are actually more likely to buy an item at 39.99 than at 34.99 because the price somehow conveys that they are getting a bargain. So even though it seems to you like this guy is not maximizing his utility, perhaps he is getting emotional benefits that exceed the value of what he is actually saving in Euros. I have friends who will spend $400 on a pair of shoes they would never have bought for $200 because the original price was $600 and they are so excited about how much money they are saving. I used to try to argue with them and convince them that they were wasting their money, but then I grew to recognize that the real benefits for them are emotional, and that the shoes themselves are not the largest source of utility.

I bet if you set up a controlled experiment where you gave people a dollar and asked them if they wanted to exchange it for a candy bar, you would find that many more people would agree to the trade if you also told them that the candy bar had cost 1.50 than you would if you told them that it cost 1.00 – even though whether or not their utility from the bar is greater than or less than 1.00 should not be affected.

I say if this guy is getting pleasure from thinking he is being thrifty, live and let live. If it really annoys you, pay for the lightbulbs yourself – clearly you value them more than their cost! (or maybe you don’t, because you are also being “irrational” and would receive negative emotional utility from paying for something that you feel the owner should be paying for himself!)

By: Alan

Alan — Mon, 25 Aug 2008 12:02:58 +0000

Maybe he is happy the way he is. Who are we to judge ? But I don’t think it’s good business to operate the way he does. If he is renting the house, I doubt he will get repeat business.

By: Arnold

Arnold — Mon, 25 Aug 2008 08:04:31 +0000

So if you are so close, why don’t you hop in for a drink? You’re welcome!