The Psychology of Money | Morgan Housel
10% Happier with Dan Harris
10% Media, LLC
4.6 • 12.9K Ratings
🗓️ 9 January 2023
⏱️ 78 minutes
🧾️ Download transcript
Summary
Money is often a messy and complicated topic that provokes a lot of anxiety.
Today's show is the first episode of a two-part series on managing our relationship to money and understanding what role money really plays when it comes to our happiness.
Morgan Housel is the author of The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. Translated into over 50 languages with over two million copies sold, Housel is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism.
In this conversation we talk about:
- The difference between happiness and contentment
- The difference between being rich and being wealthy
- The elusive but crucial concept of "enough"
- The importance of not moving the goalposts when it comes to enough-ness
- Why financial success is more about behavior than intelligence
- How our lived experiences impact our perspectives on money
Full Shownotes: https://www.tenpercent.com/podcast-episode/morgan-housel-543
Transcript
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| 0:00.0 | This is the 10% happier podcast. |
| 0:06.2 | I'm Dan Harris. |
| 0:08.8 | Hey, everybody, after more than a decade of meditating, writing books about meditation, |
| 0:16.7 | happiness and love, and hosting this show where I interview gurus and researchers of |
| 0:22.5 | all stripes, after all of that work, if I had to pick the one place where I am still the |
| 0:27.8 | least regulated, the place that provokes most of my anxiety, it would be money. |
| 0:35.6 | It's such a rich and messy and complicated topic. |
| 0:38.6 | It links back to our childhoods, our need for safety, our desire for love, our compulsion |
| 0:43.5 | to keep up with other people in that regard. |
| 0:46.2 | Actually, there's an old expression I love. |
| 0:47.7 | It runs something like this. |
| 0:49.2 | A happy man makes a hundred bucks more than his brother-in-law. |
| 0:54.1 | But now we don't just compare ourselves to our in-laws, social media has allowed us |
| 0:58.4 | to compare ourselves to literally everyone. |
| 1:01.8 | So that's fun. |
| 1:03.0 | So how to manage this? |
| 1:04.2 | How to handle our relationship to money, safely. |
| 1:07.8 | Today we are launching a two-part series. |
| 1:10.1 | On Wednesday, we're going to talk to a Dharma teacher who's done a lot of thinking about |
| 1:14.0 | our relationship to money. |
| 1:15.4 | And we'll talk about it in Buddhist terms. |
| 1:18.1 | Today, though, it's Morgan Housel, author of the best-selling book, The Psychology of |
... |
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