50 Fires: Money and Meaning with Carl Richards
Morgan Housel and Gretchen Housel Part 2: Why they never fight about money, why Morgan now only wants to fly business class, and how they’re talking to their kids about money
Mar 6, 2024
In this podcast episode, Carl Richards interviews Morgan and Gretchen Housel about their approach to money. They discuss the importance of distinguishing between wants and necessities, how they navigate money management in their relationship, and the influence of social circles on spending habits. The couple shares insights on living below their means, viewing money as a tool, and discussing money with their children.
39:50
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Quick takeaways
- Distinguishing between wants and necessities can redefine expenses as investments for better outcomes.
- Open communication, respect, and consensus building lead to financial harmony in relationships.
Deep dives
Beneficial Spending Habits and the Concept of Investments vs. Expenses
Morgan and Gretchen discuss their evolving approach to spending, emphasizing the importance of distinguishing between investments and expenses. Morgan shares his experience of deciding whether to fly first class for work trips and how it evolved over time, highlighting the concept that certain expenditures, such as travel upgrades, can be viewed as investments for improved performance and well-being rather than frivolous expenses.
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