FOMO Sapiens with Patrick J. McGinnis S14 E7 Morgan Housel: The Psychology of a Richer Life
Oct 30, 2025
Join bestselling author Morgan Housel as he delves into the psychology of money and the art of spending. He reveals that true happiness often comes from love and health, not wealth. Housel discusses the importance of differentiating between utility and status in spending and warns against 'expectations debt,' which can distort happiness. He also reflects on parenting's role in teaching financial values and challenges the reckless pursuit of status through FOMO. This insightful conversation will transform your views on what it means to live richly.
AI Snips
Chapters
Books
Transcript
Episode notes
Money’s Limits Are Often Underestimated
- Morgan Housel warns we overestimate what money can do and underestimate what it can't do.
- Money can improve life, but the list of things it cannot buy is longer and more important.
Spending Is An Underserved Topic
- Morgan chose to focus on spending because far less guidance exists on how to spend to increase happiness.
- He calls spending an art shaped by psychology, not a one-size-fits-all science.
Buy Utility, Not Status
- Ask how you'd live if only your family could see you to separate utility from status.
- Choose purchases that add real comfort instead of social signaling to increase daily happiness.
