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Morgan Housel

πŸ‘€ Speaker
6219 total appearances

Appearances Over Time

Podcast Appearances

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

That's very difficult to contextualize when you don't have a lot of money.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

I think you would anchor all of your expectations and all of your goals to the chasing the admiration of people who are not important in your life.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

I desperately want my wife and kids to admire me and love me and pay attention to me.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

After that, it drops off precipitously.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

And I think if you're the kind of person, and social media has really put a spotlight on a lot of these people who are just desperate for the attention and the engagement of total strangers and their life's purpose, like they're the only thing that matters to them in their life.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

is the engagement of strangers.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

And it's a very unhealthy way to go about things.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

I think it's always going to leave you empty.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

So I think that's the biggest.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

I want to be very ambitious about

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

financially and career-wise to benefit a very small number of people in my life, fewer than 10 people, a family, a couple of friends kind of thing.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

And after that, I couldn't give two shits about what happens from there.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

I think that's the goal of happiness and everything around it, the opposite of that, of trying to impress people who aren't paying attention is the source of the vast majority of financial misery.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

I think where a lot of people go astray with this, I'll definitely get to what works, but where they go astray is don't spend money on things, spend money on experiences.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

I think a lot of things are awesome, and a lot of experiences can leave you pretty empty.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

Particularly in the social media world, I think a lot of people, I would venture to say most people, pick their next vacation based off of what's going to make the best picture on social media.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

And I've talked about this before.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

You know what my personal example of this is?

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

This is very subjective.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

People can disagree with this.