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Steven Manuel and Mark Parrett continue their conversation about poverty (10:30) as Mark reviews the book Scarcity: Why Having Too Little Means So Much, by Eldar Shafir and Sendhil Mullainathan. It describes, with research, how “not having enough” impacts people. It makes us stupid, insecure, impulsive, makes us spend money unnecessarily, etc. Mark tells about a dumb purchase he made at Princeton (38:30), dealings with poor tenants (44:30), hamster-wheel living (49:40), and all the gross things that a poverty spirit produces. Here at Abe’s Wallet… we hate poverty (and love PLANNING, which is one of the antidotes to it)!
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Jeremy Pryor gives Steven a tour of his house. As you’ll see and hear, the Pryors have thought about how to USE their property...
Poverty is invisible; it exists in your work ethic, your personal discipline, your aversion to pain, and even your ability to make a plan....
We had to do it guys – instead of waiting until next Wednesday, we wanted to provide some financial insights into what is happening...
