EP 496: The Psychology of Money and the Art of Spending, with Morgan Housel

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 8 October 2025

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Morgan Housel, bestselling author of The Psychology of Money, is back with a brand-new book: The Art of Spending Money. In this episode, he sits down with Jean Chatzky to talk about what truly makes us feel fulfilled when we spend, and why we often get it wrong. Together, Jean and Morgan unpack the emotions that drive our financial behavior, from fear and guilt to FOMO and dopamine addiction. You’ll learn why saving money can become a harmful identity, how to redefine success beyond your bank account, and why the best moments in life usually aren’t the ones you buy. What You’ll Hear In This Episode: Why spending is an art, not a science How “happiness = reality minus expectations” can change your financial life What to do if you feel guilty about spending after saving for years How to break the cycle of spending for status or attention The simplest formula for a rich life: independence + purpose 📘Order Morgan’s new book, The Art of Spending Money 📚Get The Psychology of Money, a HerMoney community favorite 🗣️Join our Facebook group for more conversations with the HerMoney community If more financial confidence sounds good to you, then you might want to try… ⁠4-Week Coaching Program⁠: Identify and understand your spending, build a strategic plan, and take control of your money. ⁠6-Week Pre-Retirement Program⁠: We’ll help you prepare financially and emotionally for this exciting milestone. 📈⁠InvestingFixx⁠: Learn, connect, and start investing—your first month is completely free. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I want to tell you about another podcast I've been relying on to help guide my charitable giving
0:05.8	decisions. Giving done right is all about how to make an impact with your giving and tackles the
0:12.7	question every donor is asking. How can I make the biggest difference right now? With shifts in
0:19.7	federal policy and funding in flux, non-profits
0:22.9	and civic institutions are struggling, and your giving, it matters more than ever. On giving done
0:29.5	right, you'll hear from philanthropic experts and major donors who reveal how to maximize
0:35.1	impact on issues from protecting democracy to supporting
0:39.4	immigrants in crisis. Whether you give hundreds or millions, this show delivers knowledge
0:45.6	that turns good intentions into real results. Stay tuned to the end of this episode for an
0:52.2	exclusive listen of Giving Done Right and find more episodes
0:56.3	wherever you get your podcasts. Congratulations, you won. You won the race. You did everything right.
1:04.6	Now you can go have a wonderful retirement. And for a lot of those people, they can't do it.
1:09.6	They cannot bring themselves to spending even a very reasonable amount of money.
1:13.5	And I think a lot of the reason is because, as you just hint to that, the idea of I am a saver
1:18.0	becomes integral to their identity.
1:20.8	It becomes who they are.
1:22.1	And they cannot flip a switch and start saying, I'm going to start spending this in a reasonable,
1:28.6	rational way.
1:37.0	Hey, everyone. Thanks so much for joining us today on Her Money. I'm Gene Chatsky. So there is one book that comes up again and again and again in our private Facebook group when our community
1:43.0	at Her Money asks for recommendations about what to
1:47.0	read, to learn more about their finances. That book is always the psychology of money by best-selling
1:54.8	author and venture capitalist Morgan Houssel. And the psychology of money is interesting. It is a book full of stories. It's a book full of
	...

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