It's it's rooted in like trauma, like just fear. It bothers me so much. It's like for example,

commentary or coffee. I they sent me some for free. It's so good, but it's a dollar fifty per

cup.

And compare that to, like, you're being coffee. I'm like, dollar fifty. Sometimes I don't even drink the whole thing.

And so, like, I've been really struggling with, like, is that worth it? Is this worth it?

Can I tell you something, interesting? I saw. So,

the one the point o one percent rule. So Nathan Barry came on the pod.

And he was cool. So he's the the founder of ConvertKit. He came on. He was telling us about some blog posts that either he's written or that others have written that he liked. So I went back and I read one of them. And I saw this thing called the point o one percent rule. Have you seen this? No. Okay. So I I'm pretty amazing. I'm gonna pull up this, where's the blog. One zero one percent rule wealth. Let me see if I can pull it up here.

Okay. I'm not gonna be able to find it real quick here, but I'll I'll put And, Ben, if you could find it or or search Nathan Berry wealth ladder point o one percent. So, basically,

the way the guys think he he's like, he's like, you know,

he's like, he talks about price sensitivity. And he's sort of like, you know, as you get more rich, you,

You know, the way you think about money should change. Right? This is, like, when I came to your house and you had, like, CVS receipts and the glove compartment, because you're, like, saving them for, like, the three dollar thing. And you're, like, hell yeah. And I was like, dude, you just sold your company for, like, many, many millions of dollars. What are you doing with these CVS receipts? You're like, I just like to do it. That's a habit. And so this guy talks about, like, at the richer you get,

you should sort of he's like he's like this works for when you sell something to somebody or yourself as you get to that level. Basically below point o one percent of your net worth. So that's you take your net worth and you multiply it by point o o o whatever, you know, one. So it's like,

point o one percent of your net worth. So let's say you're worth,

let's do a hundred million. So a hundred million. What is it times what? Use five billion. Right? We'll use a little bit more of a approachable number here. So,

so that would be five hundred dollars for if you have five million dollars in net worth, five hundred dollars is the threshold.

Below which you don't really feel it. You don't really care or feel it. You're gonna become a little bit price insensitive below that point.

So that might be, like, you know,

opting for the, you know, the nicer hotel or, like, you just really don't give a shit. You can just ball out at a restaurant. You really don't care.

And so he draws this little curve and he's like, at, at the first level of wealth, it's like, here he calls it, like, level level zero, level one of wealth, where it's like, you know, your point o one is, like, a hundred dollars or or less than a hundred dollars at that point. Well, a million dollars.

Yeah. A million dollars would be a hundred bucks. Yeah. So he's like, you know, at that point, like, you know, if you're at the grocery store, it's something costs an extra dollar, like, you care. You don't wanna buy the eggs that cost a dollar ninety nine more, you care. He's like, then the next the next jump up is you're like, well, I don't care at, like, you know, it's he the the way he draws the chart, it's like, what are restaurant prices? Then the next one is, are vacation prices? It's like you don't even really care about how much your vacations cost. The next one is, like, you, you know, you could fly first class. And then the the final one is, like, you know, or the next one is, like, you can buy a crazy house. So you, you know, you don't really get you're not really feeling,

house prices as much. And then the final one is, like, you know, what are prices anyways? Like, you know, there's when you're worth over a hundred million dollars. At that point, most things don't cost anything to you, and,

you're pretty insensitive to the cost of it. So I'm sort of summarizing the idea. The the exact, you know, you can quibble about what you should or shouldn't care about. But I thought this was kind of an interesting number. And the reason I bring it up is

very few people that I know are, like, properly price sensitive.

So there's a lot of people I know, like my dad who no matter how wealthy they've got, like, these sort of, like, the trauma of not having money is so deeply ingrained in his body

that, like,

you know,

Starbucks, he's just, like, He's like pissed off when they charge. Even if he buys the coffee, it, like, he's angry at the price. And he's like, oh my god. Four ninety nine. Like, I could bake this for so much less. And they're like, you're welcome to do that. And he's like, oh, like, what's going on? And, you know, he's anchored to prices from, like, the eighties when, like, you know, that's why, like, he thought movie tickets should cost x. And also, you know, it just, like, hurts him to spend more than some amount regardless of what's in his bank account. And so he's kind of on one side Spectrum too cheap. And then there's other side of Spectrum, which is where more where I am where it's like, dude, you should really kinda like pay attention to this. You're you're kinda spending like pretty crazy

And, you know, completely price insensitive is on the other side. And then there's, like, whatever the sweet spot is. And then school, they don't really teach you how to how to like gauge that and what what those kind of like what even should be a good number for this? What should I spend on things? So you you you don't get nervous like, I I'm I freak out a little because as an entrepreneur, like, some years, I just, like, knock it out the park and make so much money. Other years, I make nothing.

I mean, hopefully, I don't think nothing will ever happen again, but, like, there's times you don't get nervous about running out? No. Actually, like, two months ago. I was like, oh my god. I have like no cash left. No cash on hand left. I was just I was investing in everything I saw. I was putting money into startups, into crypto, into stuff. I was, then I was spending a bunch, like, my payroll expanded.

And I was, like, oh my god. I have, like, so little cash in that account.

I thought that way too.

I had sixty grand in cash. And I was like, I feel low. Yeah. I think it was, like, thirty eight thousand was in my, like, whatever Wells Fargo checking account. I was like, where'd all the money go? This was, like, Well, and I was like, oh, yeah, I guess. And I looked at the, like, out outgoing thing, and it was like, it's not that my spending had gone up. I was really just investing a lot of money. But I was like, wow. I should, I need to manage cash. For most of the time for me, it's like, oh, I need to send my invoices for, like, things. You know, like, I was like, alright. I'm gonna teach a course And I'm gonna invoice, you know, for the podcast, and I'm gonna, like, do the things that bring in, like, cash today versus most of the things I invest my money into are, like,

long term illiquid things or my my own businesses. Right? Like, maybe I should take a withdrawal out of my business and, like, put money in my bank account. And so

you know, it was just like a reminder of that. But, no, I I don't really get too worried about that.

And maybe, you know, again, I think I'm too far on the dial of, like, willing to spend on whatever.

Remit Safety, that's is pretty much what his entire,

not course, but his entire image and content is about, which is like,

He's got this podcast where two people,

couples argue, like, we have we're worth three million dollars and he got into a fight with me because I spent eighty dollars on this silly thing.

And Remit's all about that. It's I have I'm more like your father than I am like you. Like,

and I think it's just rooted. It's it's rooted in like trauma, like just fear.

I've got the same thing where it's just like a it's like a it bothers me so much. Like, for example,

commentary or coffee, I they sent me some for free. It's so good, but it's a dollar fifty per

cup.

And compare that to, like, you're being coffee. I'm like, dollar fifty. Sometimes I don't even drink the whole thing.

And so, like, I've been really struggling with, like,

is that worth it? Is this worth it? Or the back splash on my sink in my kitchen, we need to replace it and it's eight hundred dollars. And I've been fretting over it for over a year now. I'm like, eight hundred dollars to replace that. I can't so even though it will add value to the home and also make me happier, I understand why you're dead thinks that way. It's really it's real I think it's challenging when you're it's like it's like, you know, it's proper trauma, I think, of, like,

you felt one way for years and now you suddenly, like, things are different. Yeah. Maybe we actually need money therapy.

Money therapy specifically. I think that's actually a good idea here. So therapy is this broad thing that has, like, a bunch of associations with it and mostly is, like, stigmas and blah blah blah. I think somebody needs to spin off and Remit sounds like he's kinda doing this, which is Miner therapy is a great idea. Financial therapy.

And it's like, yeah, I have a money coach. Or, you know, you probably need a switching therapy to coach as the as the hack to, like, oh, I'm focusing on performance and not, like, you know, fixing a a pro a broken part of me.

But in in reality, it's that.

I tried finding people like this. And when I met them, I was like, look,

we just didn't even know each other. Not a financial advisor. Different things. No. I know. I thought when I I go I would go to therapy for a lot, and I would and I would go when I whenever I was trying out a new therapist, I'd be like, so I'm not gonna, like, not trying to sound like a douche or big headed, but, like,

I'm a high high achiever. Like, I wanna, like, conquer the world and, like, do cool shit.

And so I'm not wanna talk. Like, this is this is the the the place that I'm coming from. Like, I'm I'm high octane, baby. Can can we can we make this happen? Do you have the tools necessary or no? Or do you, like, specialize just in, like, you know, like, traditional What what were you really trying to tell her? You were trying to tell her that my problems are not, like, I'm not broken. I'm trying to, like, just achieve a higher level of success? Or were you trying to tell? Like,

you

were trying to ask her? What were you trying to ask No. The blunt way to explain it is I've got rich I'm I'm complaining about some rich people problems. Okay. Gotcha. And, like, I'm just, like, mostly just insecure about certain things, and I wanna, like, use that to, like, conquer the world. Right. I mean, I'm gonna verify it on Twitter.

Yeah. And, like, I'm gonna complain about stuff that sounds super weak.

Because, like, on outside, like, everything's going great, but I need you to, like, empathize that, like, I'm trying to, like, go places. And I don't need you to tell me that, like, Well, you made a million dollars that last year. Isn't that good enough? Like, no, dog. It's not. Like, I need you to understand, like, what what what's that stake here? You know what I mean? Instead, what is at stake here?

That's, like, you're a better I'm gonna be I'm gonna be your I'm gonna be your money therapist. But you know what I mean? Like Totally. And so, like, I would meet people and I'm like, oh, you've only worked, like, a certain type of person. You have, like, I don't think you under I don't think you'll be able to help me. Yeah. Yeah. Exactly. I I know what you mean. It's the reason Tony Robbins gets paid a million dollars plus per client because it's like his clients are Serena Williams

and Ray Dalio and, you know, or whoever. And he's, like, you know, rich. Yeah. And he himself is successful and his other clients are

you know,

objectively very successful, but everybody,

everybody,

you know, can improve the, you know, the little voice their head.