50 Fires: Money and Meaning with Carl Richards Morgan Housel and Gretchen Housel Part 1: How they use simple financial experiments to improve their relationship with money and each other
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Feb 28, 2024 
Morgan Housel and Gretchen prioritize time together over material possessions in their financial goals. They discuss using intentional spending experiments and share insights on maintaining financial independence. The couple reflects on adapting financial goals as income and responsibilities change, emphasizing the balance between frugality and enjoying life experiences. They explore finding joy in simpler activities over extravagant spending and reflect on childhood experiences with money.
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Money Enables Family Time
- For Gretchen Housel, money's primary importance lies in enabling quality time with her family.
- This allows for shared activities like walks with her husband, Morgan, and their dog, Lucy, now that their children are in school.
Consistent Value of Time
- Morgan and Gretchen Housel prioritize spending time together, a value consistent since their student days.
- Despite increased income, their focus remains on shared experiences, not material possessions, maximizing their return on investment in family time.
Mindful Spending Growth
- The Housels intentionally reviewed past credit card statements, revealing increased spending over five years.
- Despite this, their spending increase is proportionally smaller than their income growth, indicating a conscious effort to avoid excessive lifestyle inflation.