Morgan Housel, a New York Times bestselling author and partner at Collaborative Fund, joins to discuss navigating financial stress during the holidays. He shares insights on changing your mindset about money in the new year, the significance of bonuses, and what it means to spend wisely. Housel emphasizes the connection between happiness and genuine relationships over material wealth and critiques the reliance on New Year's resolutions, advocating for consistent financial habits that prioritize well-being.
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question_answer ANECDOTE
Childhood Christmas Disappointment
Morgan Housel's mother always said Christmas was his worst holiday due to high expectations.
As an adult, the stress shifted from disappointment to the social pressure of gifting.
insights INSIGHT
Money Doesn't Buy Happiness
People often wrongly assume more money and possessions will solve their unhappiness.
Real happiness comes from addressing deeper issues like health and relationships.
question_answer ANECDOTE
Thoughtful Gifts
Morgan Housel and his wife stopped exchanging gifts, finding them less meaningful.
His wife now writes him heartfelt poems, which he cherishes more than material gifts.
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In 'The Psychology of Money,' Morgan Housel delves into the psychological and emotional aspects of financial decisions. The book consists of 19 short stories that illustrate how personal history, worldview, emotions, and biases influence financial outcomes. Housel emphasizes the importance of behavior over knowledge in managing money, highlighting the power of compounding, the dangers of greed, and the pursuit of happiness beyond mere wealth accumulation. He advocates for a frugal lifestyle, long-term perspective, and a balanced approach to investing, stressing that financial success is more about mindset and discipline than about technical financial knowledge[2][3][4].
Same as Ever
A Guide to What Never Changes
Morgan Housel
In 'Same as Ever,' Morgan Housel presents a master class on optimizing risk, seizing opportunity, and living a fulfilling life by focusing on what remains constant in a changing world. Through engaging stories and examples, Housel shows how understanding permanent truths about human behavior can help readers make better decisions and navigate uncertainties. The book emphasizes the importance of recognizing and adapting to timeless principles in finance, business, and personal life, rather than trying to predict specific future events[2][4][5].
Morgan Housel, New York Times bestselling author of “The Psychology of Money,” joins the show to break down why the holidays are such a stressful time financially – and how we can all navigate it. He also discusses how to shift your mindset around money in the new year, make the most of bonuses, and determine what “spending well” really means for you.
Prof G Markets 
