On today’s episode, Clay is joined by Morgan Housel to discuss his newest book, The Art of Spending Money — Simple Choices for a Richer Life. 
Morgan Housel is a partner at The Collaborative Fund. He's the New York Times Bestselling author of The Psychology of Money and Same As Ever. His books have sold over 8 million copies and have been translated into more than 50 languages. He also serves on the board of directors at Markel.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:04 - The intersection of money and happiness
06:08 - Why Buffett’s inner scorecard can empower us to use money as a tool instead of letting money use us
20:40 - Why the happiest people we know are oftentimes the most content
28:40 - Why chasing status is a game you’ll never be able to win
30:34 - Dopamine’s role in how we spend our money
35:27 - Why not all of our big spending decisions need to be run through a spreadsheet
38:06 - The shocking story of how the Vanderbilts lost billions of dollars due to social debt
46:46 - Why Morgan highly prioritizes spending money on independence
And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
<ul>
 <li>Join the exclusive <a href="https://www.theinvestorspodcast.com/mastermind-2/">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a> to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.</li>
 <li>Morgan’s new book: <a href="https://www.amazon.com/dp/0593716620?bestFormat=true&k=the+art+of+spending+money&crid=98HY5DXQ272D&sprefix=The+Art+of+Spending+&linkCode=ll1&tag=tipnetwork-20&linkId=e677b8c2141ddedae917a54909cb0d02&language=en_US&ref_=as_li_ss_tl">The Art of Spending Money</a>.</li>
 <li>Morgan’s other books: <a href="https://www.amazon.com/gp/product/0593332709?&linkCode=ll1&tag=tipnetwork-20&linkId=d48455e8049c40b31e31b96d9b84e120&language=en_US&ref_=as_li_ss_tl">Same as Ever</a> and <a href="https://www.amazon.com/gp/product/0857197681?ie=UTF8&linkCode=ll1&tag=tipnetwork-20&linkId=4b968d5edcd2aa2f185a55fcc69d2f08&language=en_US&ref_=as_li_ss_tl">The Psychology of Money</a>.
</li>
 <li>Morgan’s <a href="https://podcasts.apple.com/us/podcast/the-morgan-housel-podcast/id1675310669">Podcast</a>.</li>
 <li>Related Episode: <a href="https://link.chtbl.com/WSB351">TIP351: The Psychology of Money w/ Morgan Housel</a>.</li>
 <li>Related Episode: <a href="https://link.chtbl.com/WSB602">TIP602: Same as Ever w/ Morgan Housel</a>.</li>
 <li>Follow Morgan on <a href="https://x.com/morganhousel">X</a>.</li>
 <li>Follow Clay on <a href="https://www.linkedin.com/in/clay-finck-8073a8a7/">⁠⁠LinkedIn⁠⁠</a> & <a href="https://twitter.com/Clay_Finck">⁠⁠X⁠⁠</a>.</li>
 <li>Related <a href="https://prodcast.io/collections/we-study-billionaires-the-investor-s-podcast-network">⁠⁠books⁠⁠</a> mentioned in the podcast.</li>
 <li>Ad-free episodes on our <a href="https://premium.theinvestorspodcast.com/">⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠</a>.
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