The Stacking Benjamins Show – Episode: The Happiness Debate (SB1683)
Release Date: May 16, 2025
Hosts: Joe Saul-Sehy and OG
Special Guest: Paula Pant
Contributors: Jesse Kramer, Doug, and others
Introduction: Setting the Stage for the Happiness Debate
The episode kicks off with Joe and OG introducing the central theme: "Does making more money make you happier, or does saving money bring more joy?" This sets the tone for an engaging exploration of personal finance from different emotional perspectives.
Notable Quote:
Doug [01:45]: "Does making more money actually make you happier, or does shoveling away cash excite you?"
Main Debate: Earning vs. Saving for Happiness
The hosts delve into the classic personal finance dilemma—should one prioritize increasing income or enhancing savings? This debate is framed through personal anecdotes and varying viewpoints from the contributors.
Notable Quotes:
Joe Saul-Sehy [10:23]: "The truth of the matter is my love for saving money almost always trumps whatever negativity or difficulty I've got to endure to save more."
Paula Pant [11:28]: "I disagree with the premise of, you know, it's a false dichotomy. But if I'm rolling with the hypothetical... hands down, that gives you more joy than feeling the money go into your bank account."
Jesse Kramer [12:37]: "If given the hypothetical, I'd rather be saving more because in my mind, that gets me closer to my goals."
OG [13:10]: "I mean, I'm with Paula on this one. At the end of the day, it's like the ability to earn income... I want to make a bunch of money."
Doug [14:02]: "It's a close race, but yes, I think you're right."
First Trivia Challenge: The First In-Flight Meal
The show intersperses financial discussions with a light-hearted trivia segment. The question posed was: "When was the first in-flight meal served on a commercial airplane?"
Notable Exchanges:
- Jesse Kramer [32:58]: "I'm caught between two minds. I think it was September 8, 1919, aka 1918 I think."
- Doug [36:13]: "Today, the correct answer is 1919."
This segment not only provided entertainment but also encouraged listener engagement through factual questioning.
Second Debate: Credit Cards vs. Cash
The conversation shifts to financial habits, focusing on whether using credit cards or cash brings more happiness.
Notable Quotes:
Paula Pant [14:35]: "Always use a credit card... you get rewards for the spending that you're already doing."
Joe Saul-Sehy [15:09]: "Mine is that it's trackable... I actually do things with the money that give me more long term joy if I track it."
OG [15:54]: "Because I was just thinking about this... the ability to make problems go away if I can have another big company in my corner."
Jesse Kramer [25:08]: "Definitely in the ignore it camp. There's no way I'm going to obsess over my credit score."
Third Debate: Investing in Crypto vs. Leaving Money in Cash
The hosts explore the volatile world of cryptocurrency compared to the stability of holding cash.
Notable Quotes:
Jesse Kramer [41:36]: "I consistently flip flop between whether Charlie Munger was right and that crypto is rat poison or that there's this amazing future to kind of scare me."
Paula Pant [43:10]: "I have a barbell allocation. I have cash and I have equities... if you do want to invest in crypto, there are equities that you can purchase that reflect the crypto market."
OG [43:47]: "Yeah, cash. I share a similar sentiment that I can't exactly figure out what's going to happen."
Fourth Debate: Index Funds vs. Individual Stocks
The conversation turns to investment strategies, comparing the simplicity of index funds with the potential highs and lows of individual stock investments.
Notable Quotes:
Paula Pant [47:52]: "Individual stocks... I tend to just kind of gloss over it and focus on the wins."
Jesse Kramer [49:02]: "I'd rather not deal with it in the first place."
Joe Saul-Sehy [50:07]: "Individual stocks make me way happier."
Fifth Debate: Paying Off Student Loans vs. Maxing Out Retirement
The final financial question of the episode addresses prioritizing debt repayment over maximizing retirement contributions.
Notable Quotes:
Paula Pant [54:38]: "At a purely emotional level, much, much more joy paying off debt."
OG [54:15]: "Nothing... the joy comes from the fact that I now have that loan payment to invest with."
Doug [55:02]: "I'm with Paula on this because... I would have to always do the math and subtract the debt..."
Joe Saul-Sehy [55:49]: "What makes us feel good isn't always the right choice."
Key Takeaways: Personalizing Financial Choices for Happiness
The episode wraps up with the hosts emphasizing that "what makes you feel good isn't always the right choice," underscoring the importance of aligning financial decisions with personal well-being and individual circumstances.
Notable Quote:
OG [56:38]: "I don't know that the right answer is always the right answer. The right answer is what's right for you."
After Show: Light-Hearted Interactions and Listener Stories
Post the main debate, the hosts share amusing anecdotes and listener stories about mistaken calls and scams, adding a comedic closure to the episode.
Notable Highlights:
- Doug [66:16]: Shares a hilarious story about mistakenly taking a large catering order intended for another person.
- Jesse Kramer [70:37]: Narrates a scam interaction resembling a comedic sketch that ultimately wastes the scammer's time.
Final Thoughts: Tailoring Financial Strategies to Personal Happiness
The episode concludes with the overarching message that personal satisfaction and emotional well-being should guide financial decisions, rather than rigid adherence to conventional wisdom.
Notable Quote:
Joe Saul-Sehy [56:38]: "Stickiness factor, you can't deny. If it applies to you, it's something that you actually follow through with."
Additional Resources
- Paula Pant's Podcast: Afford Anything – Monthly economic updates and financial advice.
- Jesse Kramer's Podcast: Personal Finance for Long Term Investors – Focused on long-term investment strategies.
- Financial Planning Services: Visit StackingBenjamins.com/OG for expert financial planning assistance.
Join the Conversation: Listeners are encouraged to engage with the hosts on YouTube and other social media platforms to continue the discussion and share personal experiences related to the episode's topics.
Disclaimer: This summary is for informational purposes only and does not constitute financial advice. Always consult with a professional financial advisor before making significant financial decisions.