The Importance of Consumption Smoothing

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Consumption smoothing is a term that I'd never heard of before. And it seems like something that should be taught to 10 year olds to me. For the people that aren't familiar with it, what's consumption smoothing? Well, it's, you know, there is a, the current you, for a lot of people, there's a current poor you, young you,. That you're young and your poor and your future richer you.

Bill Perkins is a hedge fund manager, high stakes poker player, film producer and an author.

What if the true path to financial fulfilment doesn’t lie in saving every penny, but rather in spending it as effectively as you can? Delayed gratification in the extreme results in no gratification, and Bill's book Die With Zero is one of the best financial philosophies I've ever come across.

Expect to learn how to maximise your existence for positive life experiences, why you should give your kids their inheritance when they're 30, the most common errors people make about money, why it’s so hard for some of us to spend, the brilliant concept of ‘consumption smoothing’, what Sigmamode grindset-ers are getting wrong about work-life balance, how to plan your life in terms of seasons and much more...

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