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The Art of Spending Money

The Morgan Housel Podcast

How Much Are the Memories With Your Kids Worth?

4min Snip

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The joy of spending can diminish as income rises because there's less struggle, sacrifice, and sweat represented in your purchases. Richard Nixon said that all pleasure in money ends at the point where economy becomes unnecessary. The man who can buy anything he covets without any consultation with his banker values nothing that he buys. There is no contrasting gap between a quote unquote normal meal and daily delicacy like water when you're thirsty.

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