20) Pleasure of Shopping
Pleasures’ are immediate, short-lived. Once the stimulus disappears, the pleasant feelings fade. Sugary foods, orgasm, video games, shopping, watching a movie, hanging out with friends. ‘Gratifications’ put you in flow state. Time stops, you are fully immersed in the activity. Teaching, mountain biking, reading a book, dancing or a deep conversation with someone. Gratifications create lasting happiness; pleasures don’t. When a movie is over, the pleasure is over as well. When we help people in need or go rock-climbing, satisfaction lasts much longer. Pleasures are easy to attain while gratifications take effort. Going for a run takes effort; playing video games doesn’t. Reading a book after a hard day’s of work requires effort; switching on the TV doesn’t. If we want real happiness, we’re better off focusing on gratifications rather than pleasures. From the book “Authentic Happiness” by Martin Seligman.
26) Asset or Liability?
The poor and middle class don’t become rich because they buy liabilities that they think are assets. Assets create income, and liabilities create expenses. For example, most people think of a house as an asset. By the accounting definition, it is, but in reality, your home results in cash moving out of your pocket – the home loan EMI’s, insurance, property tax, maintenance and, worst of all, the missed opportunities from having your money stuck in your house instead of available to work for you. Instead of pretending your house is an investment, acknowledge it as an expense. If you want a house (or a bigger house than you already have), first create assets that generate enough cash flow to pay for the liability that a house is. From Robert Kiyosaki’s book “Rich Dad, Poor Dad”.