The Human Side of Money

131: The Soul of Wealth: Connecting Money and Meaning with Dr. Daniel Crosby

11 snips
Jan 29, 2025
Dr. Daniel Crosby, a behavioral finance expert and author of "Soul of Wealth," discusses the deeper meanings behind money. He argues that money should be a tool for enhancing happiness, not just an end goal. Learn how to prioritize time over money and use gratitude to boost well-being. Crosby shares personal stories linking health and wealth and offers insights on how to cope with market uncertainty. He emphasizes that true wealth encompasses fulfillment and aligning spending with personal values.
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ANECDOTE

The BYU Lie

  • Dr. Daniel Crosby lied to BYU about having another offer to get his application decision faster.
  • He hates uncertainty and desperately wanted to know if he was accepted.
INSIGHT

The Waiting is the Hardest Part

  • The greatest stress during a medical diagnosis is not the initial fear or bad news, but the waiting period for results.
  • Even bad news is actionable, as it allows for planning and coping, unlike uncertainty.
ANECDOTE

The Bombing of London

  • London was bombed more heavily than its suburbs in WWII, yet stress-related illnesses were higher in the suburbs.
  • This illustrates how predictable stress, like nightly bombings, is easier to cope with than uncertain threats.
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