TIP759: THE ART OF SPENDING MONEY

W/ MORGAN HOUSEL

TIP759: THE ART OF SPENDING MONEY W/ MORGAN HOUSEL

09 October 2025

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.

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IN THIS EPISODE, YOU’LL LEARN:

  • The intersection of money and happiness.
  • Why Buffett’s inner scorecard can empower us to use money as a tool instead of letting money use us.
  • Why the happiest people we know are oftentimes the most content.
  • Why chasing status is a game you’ll never be able to win.
  • Dopamine’s role in how we spend our money.
  • Why not all of our big spending decisions need to be run through a spreadsheet.
  • The shocking story of how the Vanderbilts lost billions of dollars due to social debt.
  • Why Morgan highly prioritizes spending money on independence.
  • And so much more!

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

[00:00:00] Clay Finck: On today’s episode, we bring back Morgan Housel to discuss his newest book, The Art of Spending Money, Simple Choices For A Richer Life. Morgan needs no introduction to our listeners. He’s the New York Times bestselling author of The Psychology of Money, and same as ever, and his books have sold over 8 million copies.

[00:00:17] Clay Finck: He also serves on the board of directors at Markel. During this episode, we discussed the intersection of money and happiness, why Buffett’s inner scorecard can empower us to use money as a tool instead of letting money use us? Why the happiest people we know are oftentimes the most content. Why chasing status is a game you’ll never be able to win.

[00:00:36] Clay Finck: Why not all of our big spending decisions need to be run through a spreadsheet? The shocking story of how the Vanderbilts lost billions of dollars due to social debt. Why Morgan highly prioritizes spending money on independence and so much more. During the last 15 minutes or so after I let Morgan go, I also took some time to share some of my biggest lessons from reading the book.

[00:00:55] Clay Finck: You know, money is one of those really fascinating things where most people naturally assume that they would be better off if they had more money. But as Morgan highlights, some of the most financially successful people also turn out to be incredibly miserable. So there’s more to it than what meets the eye and the psychology of why we spend money the way we do is critical to understand.

[00:01:16] Clay Finck: Anyways, the book was super fascinating and I enjoy chatting with Morgan about it, so I definitely encourage our listeners to go pick it up without further delay, I hope you enjoy today’s conversation with Morgan Housel.

[00:01:30] Intro: Since 2014, and through more than 180 million downloads, we’ve studied the financial markets and read the books that influenced self-made billionaires the most. We keep you informed and prepared for the unexpected. Now for your host, Clay Finck.

[00:01:54] Clay Finck: Welcome to The Investor’s Podcast. I’m your host, Clay Finck, and today I am pleased to welcome back Morgan Housel. Morgan, thank you for joining me today.

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