
S E30: Consumption and Saving - Spend Now or Save to Spend Later
Think Like An Economist
Consumption Smoothing
Economists call consumption smoothing. This is about having a steady amount of spending, or consumption over time. If you smooth your consumption, you'll be roughly spending a similar amount through your life. Smoothing is about taking money from your rich self, who pride, doesn't need it as much, and giving it to your poorer self,. who pride, needs it more. It's about shifting your money around til when you need it most.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.