10X Joy Spending
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Ramit Sethi's philosophy on strategic luxury spending and finding areas where increased spending can meaningfully improve quality of life.
Core Concept
- Identify specific areas that bring genuine happiness
- Challenge yourself to spend 10x more in those areas
- Focus on quality over frugality in chosen categories
Implementation Examples
Travel
- Ramit personally spends up to $50,000 on trips
- Justifies high spending because travel brings him genuine joy
- Focuses on premium experiences rather than budget options
Personal Services
- Example: Cleaning services
- Start with bi-weekly cleaning
- Consider upgrading to daily service
- Maximize convenience in areas that matter
Key Principles
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Selective Luxury
- Don't increase spending across all categories
- Pick specific areas that have highest impact on happiness
- Be intentional about where to apply the 10x rule
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Quality of Life Focus
- Identify services/experiences that genuinely improve daily life
- Don't feel guilty about spending more in chosen categories
- Understand personal preferences and priorities
Real World Application
- Austin (Morning Brew founder) applies this to:
- Luxury hotels when traveling
- High-end experiences like Aman resorts
- Focuses on premium customer service
- Willing to pay $1,500-6,000 per night for exceptional experiences
Framework Benefits
- Creates permission to spend dramatically more in specific areas
- Helps overcome arbitrary spending limits
- Forces evaluation of what truly brings joy
- Encourages intentional luxury rather than broad overspending
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.