Art of Spending Money w/ Savings Expert Morgan Housel | How to Optimize Money & Happiness (TIP759)

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. What you'll learn here: 00:00:00 - Intro 00:01:50 - Money and Happiness 00:06:04 - Utility vs Status 00:11:21 - No one is crazy 00:17:19 - Accumulating memories instead of money 00:23:47 - How to be content with what you have 00:30:15 - The role of dopamine in spending money 00:35:39 - Story of Morgan buying his first house 00:38:39 - How the Vanderbilts blew $300 billion dollars 00:44:25 - How to balance the short-term vs the long-term 00:47:53 - Spending money on independence 00:50:28 - Levels of independence 00:52:10 - A guide to spending money poorly 00:55:14 - Clay’s biggest lessons from the book 01:09:23 - Outro Transcript & Guest Info: https://www.theinvestorspodcast.com/e... 🤝 Join like-minded value investors this October in NYC by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/m... 💎 Explore a new business weekly and decide if it deserves a spot in your portfolio. https://www.theinvestorspodcast.com/i... ▶️ Related Episodes: 1% Action Will Change Your Life | The Psychology of Money:    • 1% Action Will Change Your Life | The Psyc...   Timeless Lessons on What Never Changes in Markets | Same as Ever w/ Morgan Housel:    • Timeless Lessons on What Never Changes in ...   📖 Books Mentioned: The Art of Spending Money: Simple Choices for a Richer Life by Morgan Housel: https://amzn.to/3WrkzYO Same as Ever: A Guide to What Never Changes by Morgan Housel: https://amzn.to/3L1pRaR The Psychology of Money by Morgan Housel: https://amzn.to/4q12kqN Listen to our episodes here: https://open.spotify.com/show/28RHOkX... Visit our website: https://www.theinvestorspodcast.com/w... Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/s... ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #MorganHousel #PsychologyOfMoney #PersonalFinance #MoneyAndHappiness #FinancialFreedom