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What does it really mean to live a “rich” life? In this episode of FOMO Sapiens, Patrick McGinnis talks with Morgan Housel, bestselling author of The Psychology of Money and The Art of Spending Money. Morgan shares a deeply personal and counterintuitive perspective on wealth, exploring not only what money can do, but, more importantly, what it can't. He reflects on why the drivers of true happiness (love, health, sleep, admiration) aren't for sale, and why chasing status can leave us unfulfilled. Instead, Morgan offers practical insights into the “art” of spending: how to avoid expectations debt, how to tell utility from status, and why happiness is best defined as what you have minus what you want. From parenting lessons about money to the hidden risks of financial FOMO, Morgan challenges the conventional wisdom of wealth. This episode will change the way you think about money, happiness, and the choices that shape a meaningful life. Learn more about your ad choices. Visit megaphone.fm/adchoices
Greg Belfrage talks about how people are spending money to save money or "Spaving". People do this the most when they are online shopping. They buy more so they don't have to pay for shipping. See omnystudio.com/listener for privacy information.
Are you a high-income earner who still struggles with money? You might be spending like a drug dealer—making it fast, and burning through it even faster. This episode reveals the shocking truth that high-income earners often make worse financial decisions than low-income earners. It all started when a new client was chastised by her friends for her low savings, despite her huge salary. We dive into the irrational mental traps that cause lifestyle creep and overspending, including a quiz that proves how your brain tricks you. More importantly, we break down rules of thumb for managing your spending so that you can learn from those who do more with less.
On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Morgan Housel, author of “The Art of Spending Money,” to discuss: Lambos, tipping, travel, spending your money with a purpose and his new book. This episode is brought to you by VanEck. Learn more about the VanEck Rare Earth and Strategic Metals ETF: http://vaneck.com/REMXCompound Find complete show notes on our blogs... Ben Carlson's A Wealth of Common Sense Michael Batnick's The Irrelevant Investor Feel free to shoot us an email at animalspirits@thecompoundnews.com with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in financial blogger fashion at The Compound shop: https://idontshop.com Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Learn more about your ad choices. Visit megaphone.fm/adchoices
Author Morgan Housel's new book, The Art of Spending Money, argues that the way we spend money matters just as much as how we earn or invest it. And for many of us, the biggest culprit that's killing our budget doesn't even show up in a spreadsheet. Book link: https://www.amazon.com/Art-Spending-Money-Simple-Choices/dp/0593716620
Morgan Housel is a bestselling author, partner at Collaborative Fund, and Board member of Markel. Morgan's work focuses on the intersection of human behavior and financial decision making. His first book, The Psychology of Money, has sold 10 million copies since releasing five years ago and is already one of the best-selling investment books of all time. His second, Same as Ever, explores human behaviors that never change, and is rapidly approaching 1 million copies sold. Our conversation discusses Morgan's latest work, The Art of Spending Money: Simple Choices for a Richer Life. I wanted to get him back on the show to share his thoughts on a subject that affects us all. But I wasn't expecting to have my mind turning on how Morgan's insights about envy, aspiration, and contentment also apply to the assessment of money managers and corporate executives. His recently released book is another tour de force, and I suspect, once again, will soon hit the best seller list. From our sponsor, Morningstar Embrace the global language of investment data Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
On More Than Money, Lori Williams, Political Analyst and Professor at Mount Royal University, joins Leanna Wachniak and Dave Popowich to unpack what the 2025 Calgary municipal election means for retirees - from property taxes to how city decisions affect your financial future. Then, Leanna and Dave discuss The Art of Spending Money by Morgan Housel, exploring how retirees can spend with confidence, find balance between saving and living, and make their money support the life they’ve worked for.See omnystudio.com/listener for privacy information.
In this episode Dan (@timely_moments) sits down with Joe (@seikoded). In this episode they decide to do a retail watch challenge at 1000, 5000 and 10000 GBP. They cover Seiko, Omega, Breitling and some honourable mentions such as Longines. References for this episode are below.Dan - @timely_moments / timelymomentsphotography92@gmail.comBuy me a brew - https://www.buymeacoffee.com/pmgwgzwbq7q?l=fr Joe - @seikodedState of the Collection - https://www.youtube.com/@sotcwatchCry Havoc - https://amzn.eu/d/exOFL8RFuji YouTube Channel - @Pal2tech
Topics discussed on today's show: National Bosses Day, Who's Going To Hell?, Dodgers Tonight, Spending Money on Your Team, The Stupid Things People Believe, Amendments, Birthdays, History Quiz, Movie Reviews, Movie Password, Faking Handicap, Would you go back?, and Apologies.
The Diary Of A CEO with Steven Bartlett: Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- Morgan Housel, global expert on personal finance, shares powerful lessons on Warren Buffett's hidden struggles, Elon Musk's sacrifices, money trauma and financial habits, how to invest wisely, and the psychology behind saving, spending, and success. Morgan Housel is a partner at Collaborative Fund, former columnist for The Wall Street Journal, and a speaker on investing, saving, spending, and financial independence. He is also the bestselling author of books, such as: ‘The Psychology of Money' and ‘The Art of Spending Money'. He explains: ◼️ Why more money rarely solves unhappiness ◼️ How envy and social comparison drive overspending ◼️ Why extreme wealth often comes at the cost of health and relationships ◼️ How inflated definitions of “wealth” fuel endless consumerism ◼️ Why true happiness comes from family, friends, and health - not luxury (00:00) Intro (02:33) The Importance of Spending Money (04:43) Why Will This Podcast Make My Life Better? (07:54) Is There Something Wrong With Chasing Status? (10:26) What's the Evolutionary Basis for This Stuff? (15:43) There's Always a Trade-Off (17:55) Saving Addiction (19:41) Can Money Make You Happy? (25:08) Are We All Stuck in a Status Game? (29:14) Is the "Freedom" Culture Actually Making People Unhappy? (31:12) Your Favorite Form of Saving Is Spending (33:17) Jealousy of Other People's Wealth (35:17) The Spectrum of Financial Independence (38:57) How Do People Achieve Financial Independence? (41:32) How Does Dopamine Factor Into All of This? (49:07) We're Wired to Want More (54:51) People Retiring Early Tend to Wish They Hadn't (55:52) Passive Income Myths (58:06) Ads (59:07) Do I Need to Know About Economics for This? (1:05:01) What's Going On in the World? (1:08:55) How Wealth Inequality Is Dividing People (1:10:50) The Charlie Kirk Shooting (1:19:04) Is There a Way Back From This Divide? (1:23:39) What Should We Be Doing to Help? (1:25:28) Are You Optimistic About the Western Economy? (1:27:23) Favorite Chapter From the Book (1:32:34) Ads (1:34:42) Why You Should Try New Things (1:37:29) Are You Chasing a Lifestyle That's Not Right for You? (1:40:48) Does Jack Think Steven Is Happy? (1:49:37) Should We Feel Guilty About the Lack of Contentment? (1:52:49) The Relationship Between Money and Kids (1:55:42) The Exact Formula for Spending (2:02:05) Humble Bubble (2:04:07) Do You Have Major Regrets in Life? Follow Morgan: Instagram - https://bit.ly/3KllnvJ X - https://bit.ly/4pJf4lT You can purchase Morgan's book, ‘The Art of Spending Money', here: https://amzn.to/46F9JTO The Diary Of A CEO: ◼️Join DOAC circle here - https://doaccircle.com/ ◼️Buy The Diary Of A CEO book here - https://smarturl.it/DOACbook ◼️The 1% Diary is back - limited time only: https://bit.ly/3YFbJbt ◼️The Diary Of A CEO Conversation Cards (Second Edition): https://g2ul0.app.link/f31dsUttKKb ◼️Get email updates - https://bit.ly/diary-of-a-ceo-yt ◼️Follow Steven - https://g2ul0.app.link/gnGqL4IsKKb Sponsors: Linkedin Jobs - https://www.linkedin.com/doac Vanta - https://vanta.com/steven Replit - http://replit.com with code STEVEN
The Diary Of A CEO with Steven Bartlett Key Takeaways Saving too much is just as bad as spending too much, from a psychological perspective; being too far on either end of this spectrum means that money is controlling you Money amplifies who you already are: It will not cure anxiety or depression, but if you're already happy, it will enhance your life Saving money is the equivalent of purchasing independence A reasonable savings goal: enough that if you lost your job, your car broke down, or your roof needed replacing, you could handle it without losing sleepYour feeling of wealth is what you have minus what you want – and it is so easy to ignore the latter There are two ways to get wealthier: (1) Sacrifice more or (2) Want less There is an optimal level of intelligence for being successful as an investor: The beginner and the Wall Street veteran both invest in index funds; only the midwit tries to beat the market Be smart enough to understand the basics, but not so smart that they become boring to you The biggest risk is always unknowable: The worst economic story that happens in the next ten years will be something that no one is talking about today If no one could see how you are living, how would you choose to live? Read the full notes @ podcastnotes.orgMorgan Housel, global expert on personal finance, shares powerful lessons on Warren Buffett's hidden struggles, Elon Musk's sacrifices, money trauma and financial habits, how to invest wisely, and the psychology behind saving, spending, and success. Morgan Housel is a partner at Collaborative Fund, former columnist for The Wall Street Journal, and a speaker on investing, saving, spending, and financial independence. He is also the bestselling author of books, such as: ‘The Psychology of Money' and ‘The Art of Spending Money'. He explains: ◼️ Why more money rarely solves unhappiness ◼️ How envy and social comparison drive overspending ◼️ Why extreme wealth often comes at the cost of health and relationships ◼️ How inflated definitions of “wealth” fuel endless consumerism ◼️ Why true happiness comes from family, friends, and health - not luxury (00:00) Intro (02:33) The Importance of Spending Money (04:43) Why Will This Podcast Make My Life Better? (07:54) Is There Something Wrong With Chasing Status? (10:26) What's the Evolutionary Basis for This Stuff? (15:43) There's Always a Trade-Off (17:55) Saving Addiction (19:41) Can Money Make You Happy? (25:08) Are We All Stuck in a Status Game? (29:14) Is the "Freedom" Culture Actually Making People Unhappy? (31:12) Your Favorite Form of Saving Is Spending (33:17) Jealousy of Other People's Wealth (35:17) The Spectrum of Financial Independence (38:57) How Do People Achieve Financial Independence? (41:32) How Does Dopamine Factor Into All of This? (49:07) We're Wired to Want More (54:51) People Retiring Early Tend to Wish They Hadn't (55:52) Passive Income Myths (58:06) Ads (59:07) Do I Need to Know About Economics for This? (1:05:01) What's Going On in the World? (1:08:55) How Wealth Inequality Is Dividing People (1:10:50) The Charlie Kirk Shooting (1:19:04) Is There a Way Back From This Divide? (1:23:39) What Should We Be Doing to Help? (1:25:28) Are You Optimistic About the Western Economy? (1:27:23) Favorite Chapter From the Book (1:32:34) Ads (1:34:42) Why You Should Try New Things (1:37:29) Are You Chasing a Lifestyle That's Not Right for You? (1:40:48) Does Jack Think Steven Is Happy? (1:49:37) Should We Feel Guilty About the Lack of Contentment? (1:52:49) The Relationship Between Money and Kids (1:55:42) The Exact Formula for Spending (2:02:05) Humble Bubble (2:04:07) Do You Have Major Regrets in Life? Follow Morgan: Instagram - https://bit.ly/3KllnvJ X - https://bit.ly/4pJf4lT You can purchase Morgan's book, ‘The Art of Spending Money', here: https://amzn.to/46F9JTO The Diary Of A CEO: ◼️Join DOAC circle here - https://doaccircle.com/ ◼️Buy The Diary Of A CEO book here - https://smarturl.it/DOACbook ◼️The 1% Diary is back - limited time only: https://bit.ly/3YFbJbt ◼️The Diary Of A CEO Conversation Cards (Second Edition): https://g2ul0.app.link/f31dsUttKKb ◼️Get email updates - https://bit.ly/diary-of-a-ceo-yt ◼️Follow Steven - https://g2ul0.app.link/gnGqL4IsKKb Sponsors: Linkedin Jobs - https://www.linkedin.com/doac Vanta - https://vanta.com/steven Replit - http://replit.com with code STEVEN
Morgan Housel is one of the top non-fiction writers in the world. He is most famous for his book “The Psychology of Money”, which has now sold more than 8 million copies. Before he wrote the book, he wrote more than 4,000 blog posts for publications like The Wall Street Journal and The Motley Fool, and that's how he honed his craft. This is my second time having Morgan on the show. The first time, I just wanted to talk about Morgan, how he goes about his work. But this time I said: “Tell me about stories.” “How do you find stories? How do you tell stories? How do you think about the rhythm of stories?” That's why he's been able to sell millions of books in the world of psychology, investing, and business: because of his ability to tell a really good story. Enjoy! 00:00:50 Collecting Good Stories00:04:12 Storytelling Beats Facts00:05:16 How to Hook Readers00:08:39 How Morgan Uses ChatGPT00:15:53 Teaching vs Preaching in Writing00:18:01 The #1 Worst Writing Advice00:25:18 Wide Funnel, Tight Filter Framework00:27:08 How to Find Your Writing Style00:31:45 Why Write Books in an Online World00:36:20 How Morgan Wrote ‘The Art of Spending Money'00:47:16 Morgan's Admiration for Beautiful Writing00:53:28 How to Start a Chapter00:57:18 Becoming More Observant01:01:01 You Don't Need New Ideas01:08:16 How Morgan Deals With Rejection About the host Hey! I'm David Perell and I'm a writer, teacher, and podcaster. I believe writing online is one of the biggest opportunities in the world today. For the first time in human history, everybody can freely share their ideas with a global audience. I seek to help as many people publish their writing online as possible. Follow me Apple: https://podcasts.apple.com/us/podcast/how-i-write/id1700171470 YouTube: https://www.youtube.com/@DavidPerellChannel X: https://x.com/david_perell Learn more about your ad choices. Visit megaphone.fm/adchoices
J-Si and Part-Time Justin debate if you need to spend money to play Fortnite. Learn more about your ad choices. Visit megaphone.fm/adchoices
On today's episode, Clay is joined by Morgan Housel to discuss his newest book, The Art of Spending Money — Simple Choices for a Richer Life. Morgan Housel is a partner at The Collaborative Fund. He's the New York Times Bestselling author of The Psychology of Money and Same As Ever. His books have sold over 8 million copies and have been translated into more than 50 languages. He also serves on the board of directors at Markel. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 02:04 - The intersection of money and happiness 06:08 - Why Buffett's inner scorecard can empower us to use money as a tool instead of letting money use us 20:40 - Why the happiest people we know are oftentimes the most content 28:40 - Why chasing status is a game you'll never be able to win 30:34 - Dopamine's role in how we spend our money 35:27 - Why not all of our big spending decisions need to be run through a spreadsheet 38:06 - The shocking story of how the Vanderbilts lost billions of dollars due to social debt 46:46 - Why Morgan highly prioritizes spending money on independence And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Morgan's new book: The Art of Spending Money. Morgan's other books: Same as Ever and The Psychology of Money. Morgan's Podcast. Related Episode: TIP351: The Psychology of Money w/ Morgan Housel. Related Episode: TIP602: Same as Ever w/ Morgan Housel. Follow Morgan on X. Follow Clay on LinkedIn & X. Related books mentioned in the podcast. Ad-free episodes on our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Simple Mining Human Rights Foundation Kubera HardBlock LinkedIn Talent Solutions Unchained Vanta Shopify NetSuite Onramp Public.com Abundant Mines Horizon Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
On this special HerMoney Mailbag episode, Jean Chatzky is joined by Morgan Housel, bestselling author of The Psychology of Money and The Art of Spending Money, to answer real questions from the HerMoney community. From investing a lump sum at midlife to managing fear around paying off debt, Jean and Morgan dive into the emotions and strategy behind smart money moves. What You'll Hear In This Episode: Should I use my savings to pay off credit cards or keep the cash for peace of mind? How to invest a $60,000 lump sum after divorce What to do with “extra” money once you've maxed out retirement accounts Why your risk tolerance matters more than market trends How your money personality can shape your decisions, for better or worse
A Note from JamesI'm such a fan of this guy. I loved The Psychology of Money — it felt like he was writing directly about me. I've made a lot of money, lost it all, made it again, lost it again. Over and over. And Morgan gets it.His new book, The Art of Spending Money, hits even deeper. It's not just about being rich; it's about freedom, simplicity, and contentment — the real returns of life. Every word of this conversation is a reminder that money is never about money. It's about independence.Episode DescriptionIn this episode, James sits down with bestselling author Morgan Housel (The Psychology of Money, Same as Ever, The Art of Spending Money) to explore how wealth, happiness, and identity intersect.They talk about why most people spend money to impress strangers who aren't even paying attention, why saving isn't “delayed gratification,” and why independence is the ultimate luxury.Housel and Altucher go beyond finance — into psychology, meaning, and what happens when your identity gets tied up in your success. This is one of the most personal and useful conversations you'll hear about money this year.What You'll LearnWhy the goal of money isn't happiness — it's contentment.How to “purchase independence” instead of possessions.The hidden trap of social signaling and lifestyle inflation.How to build a healthy “psychology of money” that lasts through boom and bust.Why compounding memories might be more valuable than compounding interest.Timestamped Chapters[02:00] “Saving is purchasing independence.”[02:29] Happiness vs. contentment — why wealth brings fewer bad days, not more good ones.[03:00] A Note from James: how Morgan's books mirror his own financial rollercoaster.[04:01] The social trap of spending for admiration.[05:19] Why signaling is universal — and why we overestimate who's watching.[06:29] The three skills of money: making, keeping, and growing it.[07:02] Saving as joy, not sacrifice: how independence is pleasure in the present.[09:08] Why wealth means fewer bad days, not more good ones.[10:00] The quest for the simple life — why simplicity equals freedom.[11:04] James's minimalist experiment: life with one backpack.[12:00] The billionaire's regret — Harvey Firestone and the mansion paradox.[14:15] The psychology of downgrades and why people can't go back.[15:40] Who are you trying to impress? The six people who actually matter.[17:21] Money as a tool vs. money as a scoreboard.[18:35] Why the desire for status falls when you find meaning elsewhere.[21:30] The fear of losing freedom — and how it drives bad decisions.[23:00] Even billionaires worry about losing it all — why fear never goes away.[25:11] Are we wired to worry about money? Nature vs. nurture in financial behavior.[27:39] Envy as outsourced thinking — how jealousy hijacks your decisions.[30:00] The five-minute rule: happiness never lasts, contentment does.[32:00] Saving in your 20s — when it matters and when it doesn't.[33:51] The habits that stick: why early saving teaches independence.[35:29] Why the best memories come when you have the least money.[37:07] Scarcity, gratitude, and why effort creates value.[38:35] Wiping the slate clean: how to escape identity traps.[40:00] Retirement, identity loss, and why former athletes struggle.[42:25] “Keep your identity small.” — lessons from Paul Graham and Tim Ferriss.[45:00] When obsession fuels creation — how James moves between identities.[49:22] Sticking with one thing vs. exploring many — the range paradox.[51:25] The barbell of wisdom: compounding stability vs. compounding experiences.[53:27] The compounding of memories — why they may outlast wealth.[55:15] Simplicity, location, and the emotional geography of memory.Additional Resources
On this very special episode, host Adam Fisch speaks to author and investor Morgan Housel, the New York Times Bestselling author of The Psychology of Money and Same As Ever. His books have sold over ten million copies and have been translated into more than 60 languages. His new book is called the Art of Spending Money, and was released on October 7. Adam and Morgan discuss how the wealthy think about money (01:07), how the rising generation can apply the lessons from his writing (05:29), and his advice for young inheritors in forging their own identity (19:59). Additional Resources:Morgan's Books at Amazon.caFor more information about Our Family Office, visit ourfamilyoffice.ca or reach out at info@ourfamilyoffice.ca.
Morgan Housel, bestselling author of The Psychology of Money, is back with a brand-new book: The Art of Spending Money. In this episode, he sits down with Jean Chatzky to talk about what truly makes us feel fulfilled when we spend, and why we often get it wrong. Together, Jean and Morgan unpack the emotions that drive our financial behavior, from fear and guilt to FOMO and dopamine addiction. You'll learn why saving money can become a harmful identity, how to redefine success beyond your bank account, and why the best moments in life usually aren't the ones you buy. What You'll Hear In This Episode: Why spending is an art, not a science How “happiness = reality minus expectations” can change your financial life What to do if you feel guilty about spending after saving for years How to break the cycle of spending for status or attention The simplest formula for a rich life: independence + purpose
In this episode of the Optical Entrepreneur Podcast, Conor sits down with Dean Waugh, founder of Retail Experience Design. They discuss how independent opticians can stop thinking like clinicians and start thinking like retailers. The conversation explores why design has such a big impact on revenue, the importance of effective dispensing spaces, and how to create a memorable customer experience from start to finish. Dean shares why practice owners should adopt the mindset that every day is grand opening day, highlights common design mistakes, and explains the value of brand consistency across your website, logo, and practice design. Whether you're planning a refurbishment or just want to see your practice through fresh eyes, this episode will help you think differently about how design shapes the success of your business.
America is rich—richer than ever. Yet Americans are more anxious, lonelier, and less satisfied than people in many poorer nations. The 2025 World Happiness Report ranked the U.S. 24th in life satisfaction, its lowest on record. Maybe, as social scientists say, we've traded community for consumption. Today's guest, Morgan Housel, thinks there's a deeper reason money hasn't bought us happiness. America, he says, is world-class at making money, but bad at spending it wisely. In his new book, The Art of Spending Money, Housel argues that we're burdened not only by visible debt—mortgages, credit cards, loans—but also by invisible debt: desire. In this episode, Derek talks with Morgan—the author of The Psychology of Money and Same as Ever—about how money, comparison, and human nature shape happiness. If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com. Host: Derek Thompson Guest: Morgan Housel Producer: Devon Baroldi Learn more about your ad choices. Visit podcastchoices.com/adchoices
This is a full-chapter preview of my new book, The Art of Spending Money, out today. Click here to buy the book.
Second City Works presents "Getting to Yes, And" on WGN Plus
Kelly welcomes the always-inspiring Morgan Housel back to the podcast to discuss his new book, “The Art of Spending Money: Simple Choices for a Richer Life.” “All behavior makes sense with enough information.” “Be careful judging how other people spend their money.” “The best measure of wealth is what you have minus what you want.”
Morgan Housel, global expert on personal finance, shares powerful lessons on Warren Buffett's hidden struggles, Elon Musk's sacrifices, money trauma and financial habits, how to invest wisely, and the psychology behind saving, spending, and success. Morgan Housel is a partner at Collaborative Fund, former columnist for The Wall Street Journal, and a speaker on investing, saving, spending, and financial independence. He is also the bestselling author of books, such as: ‘The Psychology of Money' and ‘The Art of Spending Money'. He explains: ◼️ Why more money rarely solves unhappiness ◼️ How envy and social comparison drive overspending ◼️ Why extreme wealth often comes at the cost of health and relationships ◼️ How inflated definitions of “wealth” fuel endless consumerism ◼️ Why true happiness comes from family, friends, and health - not luxury (00:00) Intro (02:33) The Importance of Spending Money (04:43) Why Will This Podcast Make My Life Better? (07:54) Is There Something Wrong With Chasing Status? (10:26) What's the Evolutionary Basis for This Stuff? (15:43) There's Always a Trade-Off (17:55) Saving Addiction (19:41) Can Money Make You Happy? (25:08) Are We All Stuck in a Status Game? (29:14) Is the "Freedom" Culture Actually Making People Unhappy? (31:12) Your Favorite Form of Saving Is Spending (33:17) Jealousy of Other People's Wealth (35:17) The Spectrum of Financial Independence (38:57) How Do People Achieve Financial Independence? (41:32) How Does Dopamine Factor Into All of This? (49:07) We're Wired to Want More (54:51) People Retiring Early Tend to Wish They Hadn't (55:52) Passive Income Myths (58:06) Ads (59:07) Do I Need to Know About Economics for This? (1:05:01) What's Going On in the World? (1:08:55) How Wealth Inequality Is Dividing People (1:10:50) The Charlie Kirk Shooting (1:19:04) Is There a Way Back From This Divide? (1:23:39) What Should We Be Doing to Help? (1:25:28) Are You Optimistic About the Western Economy? (1:27:23) Favorite Chapter From the Book (1:32:34) Ads (1:34:42) Why You Should Try New Things (1:37:29) Are You Chasing a Lifestyle That's Not Right for You? (1:40:48) Does Jack Think Steven Is Happy? (1:49:37) Should We Feel Guilty About the Lack of Contentment? (1:52:49) The Relationship Between Money and Kids (1:55:42) The Exact Formula for Spending (2:02:05) Humble Bubble (2:04:07) Do You Have Major Regrets in Life? Follow Morgan: Instagram - https://bit.ly/3KllnvJ X - https://bit.ly/4pJf4lT You can purchase Morgan's book, ‘The Art of Spending Money', here: https://amzn.to/46F9JTO The Diary Of A CEO: ◼️Join DOAC circle here - https://doaccircle.com/ ◼️Buy The Diary Of A CEO book here - https://smarturl.it/DOACbook ◼️The 1% Diary is back - limited time only: https://bit.ly/3YFbJbt ◼️The Diary Of A CEO Conversation Cards (Second Edition): https://g2ul0.app.link/f31dsUttKKb ◼️Get email updates - https://bit.ly/diary-of-a-ceo-yt ◼️Follow Steven - https://g2ul0.app.link/gnGqL4IsKKb Sponsors: Linkedin Jobs - https://www.linkedin.com/doac Vanta - https://vanta.com/steven Replit - http://replit.com with code STEVEN
How do you spend money in ways that actually make life better? Morgan Housel, author of the new book The Art of Spending Money, explores status vs. satisfaction, the hedonic treadmill, and why money's best use is buying independence. We also cover quiet compounding, a practical 15-stage path to financial freedom, when to spend vs. save, helping kids without spoiling them, and small experiments that raise the utility of every dollar. ------
Negotiate Anything: Negotiation | Persuasion | Influence | Sales | Leadership | Conflict Management
Money, happiness, and the elusive idea of “enough.” In this conversation, best-selling author Morgan Housel (The Psychology of Money, The Art of Spending Money) shares raw insights on why chasing more rarely leads to fulfillment—and how to rethink the way we use money as a tool for freedom and meaning. Buy the book The Art of Spending Money. Hosted by Kwame Christian, this interview dives deep into: Why more money won't automatically make you happier The hidden cost of comparison and envy How to define “enough” in your own life The difference between knowledge and wisdom (and why most people confuse them) Practical lessons on money, freedom, and decision-making that Morgan learned firsthand Whether you're an investor, entrepreneur, or simply someone who wants to build a healthier relationship with money, this episode will shift the way you think about wealth, success, and happiness. About Morgan Housel: Morgan is the best-selling author of The Psychology of Money and The Art of Spending Money. His writing has shaped how millions of people think about money, risk, and human behavior. Buy the book The Art of Spending Money. https://www.morganhousel.com/aosm Contact ANI Request A Customized Workshop For Your Company Follow Kwame Christian on LinkedIn negotiateanything.com Click here to buy your copy of Finding Confidence in Conflict: How to Negotiate Anything and Live Your Best Life!
Money, happiness, and the elusive idea of “enough.” In this conversation, best-selling author Morgan Housel (The Psychology of Money, The Art of Spending Money) shares raw insights on why chasing more rarely leads to fulfillment—and how to rethink the way we use money as a tool for freedom and meaning. Buy the book The Art of Spending Money. Hosted by Kwame Christian, this interview dives deep into: Why more money won't automatically make you happier The hidden cost of comparison and envy How to define “enough” in your own life The difference between knowledge and wisdom (and why most people confuse them) Practical lessons on money, freedom, and decision-making that Morgan learned firsthand Whether you're an investor, entrepreneur, or simply someone who wants to build a healthier relationship with money, this episode will shift the way you think about wealth, success, and happiness. About Morgan Housel: Morgan is the best-selling author of The Psychology of Money and The Art of Spending Money. His writing has shaped how millions of people think about money, risk, and human behavior. Buy the book The Art of Spending Money. https://www.morganhousel.com/aosm Contact ANI Request A Customized Workshop For Your Company Follow Kwame Christian on LinkedIn negotiateanything.com Click here to buy your copy of Finding Confidence in Conflict: How to Negotiate Anything and Live Your Best Life!
Today's guest is Morgan Housel, the bestselling author of The Psychology of Money and Same As Ever. His books have sold over nine million copies. His new book releasing in October is The Art of Spending Money. Morgan is a partner at The Collaborative Fund and serves on the board of directors at Markel. In today's episode, Morgan discusses the complexities of wealth, spending, and happiness. He shares insights on the psychological implications of financial identity and the importance of independence and purpose in achieving true happiness. One theme throughout is that investing is more about human behavior than financial principles. (0:00) Starts (1:31) Introduction of guest Morgan Housel (2:01) Virality, luck and success (3:38) The psychological impact of wealth (7:15) The burden of material possessions and spending for happiness (11:17) Personal history's influence on spending and investment behavior (16:01) Cultural attitudes toward investing (22:07) The role of identity in financial behavior (27:45) Avoiding peer comparisons (37:30) Finding happiness and purpose after financial independence (50:13) Morgan's most memorable investment Sponsor: AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! -----Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices
You've worked hard. Saved smart. Invested wisely. You've built a life where money is no longer the problem. But here's the awkward truth: spending it freely, without guilt, hesitation, or second-guessing, is the part no one prepared you for. In this episode, I unpack why so many retirees struggle to permit themselves to spend, where that scarcity mindset comes from, and how to start using money to create joy, connection, and memory dividends. Saving was your superpower. Spending is your next skill. What You'll Learn Why spending in retirement isn't a maths problem, it's a psychological one The “permission gap” and why most retirees hesitate to enjoy what they've saved How money guilt shows up (and why you're not alone in feeling it) The hidden costs of under-spending... memories, experiences, and lost joy What “good spending” really looks like: values, memory dividends, and well-being Practical tools, from guardrails to pre-spending permission slips, to help you spend with confidence Challenge of the Week
Go to www.LearningLeader.com for full show notes The Learning Leader Show with Ryan Hawk Morgan Housel is the New York Times Bestselling author of The Psychology of Money, Same As Ever, and The Art of Spending Money. His books have sold over 10million copies and have been translated into more than 60 languages. This is brought to you by Insight Global. If you need to hire 1 person, hire a team of people, or transform your business through Talent or Technical Services, Insight Global's team of 30,000 people around the world have the hustle and grit to deliver. Notes: Morgan dedicated The Art of Spending Money to "Kellie the Unicorn" (his sister Kellie) after she was diagnosed with colon cancer and asked him to fulfill her long-running joke request. Sometimes book dedications "mean nothing to the reader, but they can mean everything to the author." People Who Bet on You - Brian Richards (Motley Fool boss) bet on Morgan when he didn't have to, providing unconditional support for a mediocre college writer. Craig Shapiro (Collaborative Fund) pursued Morgan for months to join his tiny VC firm as a full-time blogger when it wasn't a business necessity. What money can't buy - Morgan once heard a story from a priest that he'll never forget… It's from a priest who delivers the last rites in hospitals. He described the difference between what kids say to their parents when they're about to die. The priest tells them to tell their parents what they're most grateful for… In families with lots of problems, the kids usually talk about something that costs money. In the best families, the ones with solid relationships, the kids say the same thing every time. “Thank you for believing in me.” Making vs. Spending Money - "There are literally tens of thousands of books written on how to make money... There are virtually no books written about how to spend money." Most people assume spending needs no guidance, but wealthy people often demonstrate this isn't true. The Internal vs. External Scoreboard - Donald Crowhurst (fake sailor who killed himself seeking external validation) vs. Bernard Moitessier (expert sailor who quit before winning to avoid attention and live authentically). Modern society pushes us toward Crowhurst's external validation while we actually want Moitessier's internal satisfaction. The simplest formula for a pretty nice life: independence plus purpose. The independence to do what you want, and the wisdom to want to do meaningful things. Chuck Feeney's Wealth Example - The duty-free store billionaire first lived the stereotypical rich lifestyle, realized he didn't like it, then chose to live modestly and give away $10 billion. "I was happy when I was giving money away, and I was not happy when I wasn't giving money away." Every Dollar of Debt - "Every dollar of debt that you have is a piece of your future that someone else owns." Debt narrows the range of outcomes you can endure in an unknowable future. Money and Happiness Research - Recent studies show that earning more money only helps if you're already happy, joyful, and content. For depressed, anxious people, more money doesn't improve well-being. "It leverages whoever you are in either direction." What Money Can't Buy - The book is "40% about how to spend money to make yourself happier and 60% about realizing what money cannot do for you." Relationships, health, and personal fulfillment must come first. “Comedians are the best thought leaders because they understand how the world works, but they want to make you laugh rather than making themselves feel smart.” "Nobody gives a shit about anything other than how you make them feel." Vacation - Morgan realized while building sandcastles with his kids on the beach in Maui (10/10 experience) that building Legos at home with them was almost as good (9/10). The real value was "uninterrupted time with my family," which required travel to avoid daily distractions but pointed to what actually mattered. Ambition - Morgan's career drive crystallized while kayaking past $25 million mansions on Lake Washington in 2010: "I need to work harder. I want one of those one day." This wasn't envy but ambition - though he notes the line between inspiration and envy is thin, especially once you know the person. A high savings rate is not "saving" but is "purchasing independence." Each saved dollar buys freedom to handle life's unknowable future without someone else's schedule dictating his choices. Why Spending Is Complicated People try to fill emotional holes with material purchases Society tells us what we should like, which may not align with our actual preferences We chase peer comparison rather than personal satisfaction We overestimate the social rewards of nice possessions The Independence Framework Save money not for retirement but for freedom to handle uncertainty Debt narrows your options when life throws curveballs Independence means being able to do what you want, with whom you want, for as long as you want The Internal Scorecard "No one's watching. No one's thinking about you." When people notice your possessions, they're either imagining themselves having them or envying you for them Neither response gives you the social validation you're seeking Use money to buy independence rather than others' admiration Relationship Investments Focus on what creates "uninterrupted time with people you love" Consider how purchases enable deeper connections (bigger kitchen for family dinners) vs. impressing others Remember that belief and support matter more than material provision Purpose Morgan's purpose became clear the moment he became a father: "There. That's it... I don't matter anymore. That's the only thing that matters right there." Purpose can be parenthood, work, religion, or community, but it needs to be bigger than yourself. "Comedians are the best thought leaders because they understand how the world works, but they want to make you laugh rather than making themselves feel smart." They deliver profound psychological and social insights while focusing on how they make you feel, not their own status. Regret -- Gerontologist Carl Pillemer interviewed 1,000 Americans aged 90-100. Not a single one said, "I wish I earned more money" or "I wish I worked harder." Nearly all said "I wish I spent more time with my kids" and "I wish I were nicer to my spouse." Inspiration vs. Envy -- Morgan credits James Clear as inspiration for "The Psychology of Money" and describes him as incredibly successful yet humble and kind. This creates pure inspiration without envy, unlike other successful writers whose personalities trigger competitive feelings.
Zaid sits down with bestselling author Morgan Housel (The Psychology of Money) to talk about his new book The Art of Spending Money. Morgan also shares his perspective on Gen Z's financial struggles, the rise of financial nihilism, and why America's housing crisis might be the biggest social problem of our time. We also dive into the psychology behind how we spend, why tiny adjustments often matter more than a bigger paycheck, and how contrast shapes our happiness.**NOTE: ALL BOOKS FOR THE GIVEAWAY HAVE BEEN CLAIMED!!**
This week on the Retirement Quick Tips Podcast, I'm talking about the all-too-common problem of being too frugal and underspending in retirement, how this frugality can rob you of a fulfilling retirement, and steps you can take to find a better balance with spending and preserving financial security in retirement. Today, I'm talking about intentional spending = meaningful life. I touched on this yesterday, but I want to continue with intentionality today, because I think it's really the key to living an anti-frugal and fulfilling retirement.
Starting Lineup: BYU takeaways Utes enter the AP Top What You May Have Missed
Pre-order my new book The Art of Spending Money here. ***Thanks to my friends at Public.comAll investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1890144), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. Alpha is an experimental AI tool powered by GPT-4. Its output may be inaccurate and is not investment advice. Public makes no guarantees about its accuracy or reliability—verify independently before use.
New Headlines, Gathering of the Juggalos, Spending Money & More!
New Headlines, Gathering of the Juggalos, Spending Money & More!
Cali, Bryan and Todd discuss the Parable of the Talents in Matthew 25:14-30. Click here (https://www.biblegateway.com/passage/?search=Matthew%2025%3A14-30&version=RSV) to read the passage. Click here (https://www.theatlantic.com/ideas/archive/2024/08/spending-money-finance-anxiety-tightwads/679373/) to read the article they mention, "The Well-Off People Who Can't Spend Money," by Olga Khazan in The Atlantic.
Join our FREE Webinar to avoid the main 3 things people get wrong about retirement https://bit.ly/44Xc398 Retirement is supposed to be the reward for decades of hard work, but the reality can be a shock. In this video, we open up about the uncomfortable truths we faced after leaving our careers, including feelings of uselessness, loss of identity, lack of structure, strained communication, and fading intimacy. We share the strange things no one tells you about this stage of life and how they can either break you or push you to grow. From rebuilding purpose and routines to reigniting your relationship and finding your own voice, we offer real solutions to help you avoid retirement drift and create a life of clarity, connection, and meaning. #retirement #retirement_transformed #retirementcouple #retirement BUY MARK'S BOOK! The Evolving Man: Life Virtues Men Don't Talk About USEFUL FINANCIAL TOOLS https://geni.us/new_retirement Use this link for a FREE 14 Day Trial! [Get the FREE Downsizing Guide] How to prepare to downsize your home CONNECT: Engage in our Free Facebook Community ✔️ Facebook: https://www.facebook.com/retirementtransformed ✔️ Instagram: https://www.instagram.com/retirementtransformed ✔️ LinkedIn: https://www.linkedin.com/company/retirementtransformed ✔️ Amazon Shop: https://www.amazon.com/shop/retirementtransformed ABOUT RETIREMENT TRANSFORMED Husband and wife duo, Mark & Jody Rollins, inspire and serve as personal guides to meaningful, transformational journeys for individuals who are planning for, going through or are living in retirement. This is everything in retirement beyond your financial plan. We are not financial advisors or medical experts. Any advice we give is our own and should not be taken as professional advice. This video is for informational and entertainment purposes only. Please seek professional assistance before making any financial decisions or changes that can affect your physical or mental health. FTC: Some links mentioned above may be affiliate links, which means we earn a small commission if you buy a product from the specific link. This video is not sponsored. All Content and video segments are the copyright and owned by ©Retirement Transformed and cannot be used without permission.
Next time you get the urge to make a purchase, try one of these things to get a free or low-cost dopamine hit. We're exploring the science of dopamine and how our brains are hooked on the thrill of a new purchase. Instead of letting the impulse to shop take over, we share ideas to create your own dopamine menu that will deliver the same feel-good chemicals without the financial hangover. Get ready to hack your brain's reward system and find true satisfaction that's more lasting than a new purchase. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/123-a-dopamine-menu-20-ways-to-feel-good-without-spending-money/
Your spending habits reveal more than you think. Discover the psychology behind why we buy, the difference between buying "things" and experiences, and how to align your spending with your values. CONQUER SHYNESS
The MFR Coach’s Podcast w/Heather Hammell, Life + Business Coach for Myofascial Release Therapists
Our society typically praises the saver and calls the spender foolish. In today's Gospel Jesus does the opposite. Tune in to learn more!
Today Jessie Lang joins us today to discuss the BRRRR method, coaching, and her journey through real estate.----Continue the conversation with Brian on LinkedInJoin our multifamily investing community with like-minded apartment investors at the Tribe of TitansThis episode originally aired on August 1, 2025----Watch the episode on YouTube: https://www.youtube.com/channel/UCcsYmSLMxQCA9hgt_PciN3g?sub_confirmation=1 Listen to us on your favorite podcast app:Apple Podcasts: https://tinyurl.com/AppleDiaryPodcast Spotify: https://tinyurl.com/SpotDiaryPodcast Google Podcasts: https://tinyurl.com/GoogleDiaryPodcast Follow us on:Instagram: https://www.instagram.com/diary_of_an_apartment_investor Facebook: https://www.facebook.com/DiaryAptInv/ Twitter: https://twitter.com/Diary_Apt_Inv ----Your host, Brian Briscoe, has owned over twenty apartment complexes worth hundreds of millions of dollars and is dedicated to helping aspiring apartment investors learn how to do the same. He founded the Tribe of Titans as his platform to educate aspiring apartment investors and is continually creating new content for the subscribers and coaching clients.He is the founder of Streamline Capital based in Salt Lake City, Utah, and is probably working on closing another apartment complex in the greater SLC area. He retired as a Lieutenant Colonel in the United States Marine Corps in 2021 after 20 years of service.Connect with him on LinkedIn----Jessie LangJessie Lang started investing in real estate by "house-hacking" over 10 years ago, and has since grown a substantial rental portfolio that she manages with the help of a small, remote team. In the last 36 months, she's grown from 11 doors (bought the wrong way with 20% down), to 70 doors and counting. She's laser focused on the BRRRR method, which allows her to put her money to work over and over to create generational wealth. She partners with private lenders to buy real estate with none of her own money, all while providing them double digit returns on their investment! Jessie has created a free mini-course—how to buy 1-3 rentals per month on autopilot (even if you don't own a property yet, don't have 20% down, and think rates are too high). When she isn't managing rentals or coaching, she is traveling with her wife Laura, spoiling her 5 (yes 5!) pets, and getting her hands dirty in DIY house projects and gardening.Learn more about her at: https://linktr.ee/jessielangrealestate
Royals spending money in the middle of the season Clark Hunt Press Conference What's Trending Re-Air Pacheco interview Cortland Sutton gets an extension
Planning your year in PEDs & Diet Phases & Knowing When To Make Changes Kuba Cielen and Scott McNally 2:06 Setting Goals for Yearlong Progress 4:20 Athlete's Assessment for Setting Timelines 9:34 Determining PEDs 11:07 Different Approaches to PED Cycles 14:53 Muscle Growth Strategy and Duration 15:36 Setting Training Guidelines 18:17 Struggling with Accountability 18:42 Kuba's Current Timeline Breakdown 23:40 Responding to Small Changes 26:23 Knowing When to Make Changes 30:03 Creating Habits for Bodybuilding 32:21 Earning the Right for GLP1s 34:22 Satisfaction from Bodybuilding 36:27 Scott's Approach to GLP1s 39:04 Kuba's Approach to GLP1s 41:37 GLP1 Side Effects 42:50 Digestive Enzymes 46:22 Sensitive E2 Test 47:35 Spending Money on Bodybuilding 52:18 BCAAs 54:03 Water Retention When Pushing Carbs 56:32 Pro Tip for Cruising 59:16 Growth Hormone Year Round 1:03:42 Night Time Drink 1:05:16 MK Classic 1:06:55 Kuba's Prep Update Follow @KubaSylvesterCielen here!
Renting is smarter than buying?! Personal Finance Expert Nischa Shah breaks down the 65-20-15 hack to making money, why saving for a house might RUIN your path to financial freedom, and how to build REAL wealth through passive income, smart money habits, and beginner-friendly investing strategies. Nischa Shah is a qualified accountant and ex-investment banker who walked away from a 6-figure career to teach millions how to take control of their money. She's the creator of the fast-growing YouTube channel ‘Nischa' with over 1 million subscribers, where she breaks down debt, saving, and investing. She explains: ◻️The 65-20-15 money framework that generates passive income without a job. ◻️How to invest in index funds and retire early with compound interest. ◻️Why your job might be making you poorer every day. ◻️The dangerous lie about “saving = security” and what to do instead. ◻️Why the credit card trap is costing you thousands without you realising. 00:00 Intro 02:28 My Mission to Spread Actionable Money Tips 04:28 Trauma and the Link to Money Attachment Styles 08:34 The 4 Steps to Take Control of Your Finances 11:58 Paying Your Debts 13:55 The Emergency Financial Buffer We All Need 15:07 What to Do With Saved Money 17:09 Do These 3 Things Before Investing 20:00 Why You Should Save for Retirement 22:56 Spending Money for External Validation 27:36 What to Invest In 31:09 How to Get a Salary Raise 37:07 Is Buying a House a Good Investment? 44:44 What Is Opportunity Cost? 48:54 Should You Split Your Investments? 53:42 What Does Nisha's Portfolio Look Like? 56:40 Ads 57:31 The Best Book to Learn About Finance 01:01:15 Should I Buy or Lease a Car? 01:04:35 Should We Sacrifice Some of Our Enjoyments? 01:07:30 What's the Best Way to Track Your Numbers? 01:11:12 The Role of Money in Relationships 01:16:18 What Is Passive Income and How to Get It 01:21:59 Ads 01:23:48 Making Millions With YouTube 01:29:41 Doing Your Finances With AI 01:36:28 The Importance of Your Credit Score 01:45:20 What Would You Not Spend Money On? 01:48:52 My Dad's Words Changed Me 01:57:57 I Felt So Much Pain During My Career 02:01:21 Your Hardest Day Follow Nischa: YouTube - https://bit.ly/4kHiVMl Instagram - https://bit.ly/3Ui6eNd
Mike Johnson, Beau Morgan, and Ali Mac let listeners call in and ask them anything, and they also answer listeners' social media questions in the Morning Mailbag!
#237: Start living your rich life today regardless of your income. Learn how to spend without guilt, track the four key financial numbers that matter most, harness the power of decisiveness, and avoid the common traps that hold people back as their income grows. Ramit Sethi is a personal finance expert and the NYT bestselling author of I Will Teach You to Be Rich. He hosts the popular Netflix show, How to Get Rich, and the Money for Couples podcast. Link to Full Show Notes: https://chrishutchins.com/guilt-free-rich-life-ramit-sethi Partner Deals LMNT: Free 8-count sample pack of my favorite electrolyte drink mix OpenPhone: 20% off the first 6 months of your own business phone system Notion: Try Notion AI free to automate tedious tasks and streamline your work Quince: Affordable luxury essentials with free shipping + 365 day returns Thrive Market: 30% off your first order of organic groceries + a free $60 gift For all the deals, discounts and promo codes from our partners, go to: chrishutchins.com/deals Resources Mentioned Ramit Sethi: Website | X | Instagram Money for Couples: Book | Podcast | YouTube Earnable Program ATH Podcast Ep #91: Die With Zero: Net Fulfillment Over Net Worth with Bill Perkins Leave a review: Apple Podcasts | Spotify Email for questions, hacks, deals, and feedback: podcast@allthehacks.com Full Show Notes (00:00) Introduction (02:23) How Much Money Do You Actually Need to Live a Rich Life? (04:25) Identifying Money Dials to Live a Rich Life (06:16) The Four Key Numbers You Need to Track Your Finances (12:02) How to Learn the Skill of Spending Money (17:58) Ways to Reframe How You Look at Costs (23:02) Analyzing How Optimizers Spend (26:37) Why It's Important to Find Your Worry-Free Number (28:38) Spend Money Based on the Stage You're in Life (34:48) The Role of Income (& Side Hustles) in Your Rich Life (38:41) Why You Have to Be Honest About Your Rich Life (40:25) Tackling Big Financial Decisions (43:27) Why Ramit Thinks Lifestyle Creep Is a Myth (45:04) How Chris and Amy Decided to Sell Their Vacation Home (48:13) The Power of Being Decisive and How to Build the Skill (54:56) Biggest Traps People Face When Moving Up the Wealth Ladder (58:40) How AI Has Impacted the Way People Manage Their Finances (1:01:17) Ramit's Challenge for You to Live Your Rich Life (1:03:34) Where to Find Ramit, His Book, and Other Work Connect with Chris Newsletter | Membership | X | Instagram | LinkedIn Editor's Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode we explore one big long answer to an email from Bob about why people refuse to spend money in retirement despite having more than adequate resources. We touch on the math and psychology of the Possibility Effect and how to use Base Rates to overcome that, what the numbers say you really should be afraid of, how to break down expenses to alleviate fears and the real underlying problem in many cases, which is not fear, but personal identity rooted in "Frugality Inertia."And THEN we our go through our weekly and monthly portfolio reviews of the eight sample portfolios you can find at Portfolios | Risk Parity Radio.Books Referenced:"The Top Five Regrets of the Dying" by Bronnie Ware"Falling Upward" by Richard Rohr"Strength to Strength" and "Build The Life You Want" by Arthur Brooks"The Second Mountain" by David Brooks"The Soul of Wealth" by Daniel Crosby"The Art of Spending Money" by Morgan Housel"Die With Zero" by Bill PerkinsAdditional Links:Father McKenna Center Donation Page: Donate - Father McKenna CenterMorgan Housel Podcast: The Morgan Housel Podcast, Episode 1: The Art of Spending MoneyNarrative Psychology: How to tell stories that give you meaning | Jane Goodall, Terry Crews & Dan McAdamsChooseFI Pod #508: 508 | 5% SWR, Revealed Preferences, and the 3 Stories | Frank VasquezFour Idols Video: https://tinyurl.com/4vua3eb2 Satisficing: Satisficing - WikipediaBreathless AI-Bot Summary:This episode tackles the psychology behind the "golden coffin" phenomenon – wealthy retirees who maintain sub 3% withdrawal rates, essentially ensuring they'll die with maximum assets. While justified as prudent planning, the real barriers to enjoying retirement wealth are more complex and fascinating.We dive into cognitive science, exploring how the "possibility effect" (identified by Kahneman and Tversky) distorts our risk perception. Your brain amplifies the tiny probability of running out of money while downplaying the vastly higher probability of running out of time. A 55-year-old man has an 11.3% chance of dying within 10 years – yet many obsess over financial scenarios with less than 1% probability of occurring.Beyond cognitive biases lies an identity crisis. Many successful investors have spent decades defining themselves through wealth accumulation. This "frugality inertia" becomes so embedded in self-image that spending feels wrong, even when mathematically sound. The financial services industry exploits these fears, selling products that promise impossible certainties while encouraging hoarding behaviors.The solution? Reframing retirement spending around four evidence-based wellbeing categories: relationships, experiences, work avoidance (paying for freedom from tedious tasks), and giving. These categories reliably generate happiness returns far superior to watching account balances grow. For those struggling to make this psychological transition, books like "Falling Upward" (Rohr), "Strength to Strength" (Brooks), and "The Soul of Wealth" (Crosby) provide frameworks for evolving beyond accumulation as life purpose.What retirement story are you living? The miser who dies rich but unfulfilled, or the transformed Scrooge who discovers generosity's joy? The choice defines not just your retirement, but your legacy.Support the show
Hey Lifers! Welcome back to ask uncut where we answer your deep and burning questions! We’re all sad that the post office has said that they will stop selling knick-knacks! We’re already mourning the novelty and surprise of what might be available today! Vibes:Britt - Punter’s Politics Laura -Feel Better, Live More Podcast - How To Future-Proof Your Brain: with Dr Daniel Amen Keeshia - Nonnas on Netflix Then we jump into your questions!TO WHAT EXTENT ARE WEDDING JITTERS NORMAL?Since getting engaged 7 months ago I have dreamt multiple times a week about an ex “situationship” from about 10 years ago! My fiancé and I have been together for over 6 years and lived together for 5 so getting married shouldn’t really feel that different. I love my fiancé and it hurts my heart to think of not being with him, but I also feel a little bit of a pit in my stomach when I think of the wedding which is in August. Is this just wedding nerves? I feel like I may have some commitment issues as I’ve never had a long relationship before this one. I also don’t love being the centre of attention so could this be contributing? Is this just a normal reaction before such a big commitment? I guess that’s why they joke about people getting cold feet before a wedding but I never thought that was real. Would love your opinions please x BF DOESN’T WANT TO GO DOWN ON ME BECAUSE OF OCDHi guys! I have a dilemma. I love when my partner goes down on me butttt because I am so comfortable with him I fart, poop, and pull out tampons in front of him. He has pretty much seen it all. We have been together for 4 years. He has diagnosed OCD, especially around cleanliness and because he has seen what he has seen, he doesn’t like to go down on me, even when I’ve suggested doing it as soon as we have had a shower. Is this something you think we can work on or do I have to find alternatives (toys)? Please give me your best advice. PARTNER SPENT 6K ON ROBLOX - HELPMy partner and I’ve been together 3 years and I love him more than anyone. When we first started dating he had a slight pokies issue and was completely transparent with it. Together we worked that habit out and he stopped gambling on pokies; he played poker once a week and has been fine. However, last night I went into his phone when he was asleep to see where he’s been spending money after he made a comment about being tight for money. I looked and there were 3 Roblox transactions for over $100 each from the weekend. So, today I logged into his account and went through all the transactions. I’ve worked out that since January he has spent over $6k on this stupid game, and he’s been lying about it. He said he didn’t get paid enough this week to get his savings out etc but in reality, he has been spending it on Roblox. I need advice because this is so fucking childish. I do realise it’s a deeper problem than playing games, it’s an addiction and I want to help him but how do I confront him about it? I just want what’s best for him. For context: we don’t share a bank account for these reasons. I am money savvy and a good saver and he is the absolute opposite. OPINION ON MARKETPLACE GIFTS?Can you buy someone something from Marketplace secondhand because that way you can actually afford it and you know that they’ll love it? Or can you give someone something that you have owned? For context, it’s my niece's 1st birthday coming up where we would normally spend $100–$150 on the gift. We were about to sell something that is hardly used by our 2 year old. The RRP is $260 but they sell for $200 on Marketplace. Can you do that? Or is that super tight? Then if you can do it, do you tell them it’s secondhand or just palm it off as bought? You can watch us on Youtube Find us on Instagram Join us on tiktok Or join the Facebook Discussion Group Tell your mum, tell your dad, tell your dog, tell your friend and share the love because WE LOVE LOVE! Xx See omnystudio.com/listener for privacy information.
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