The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

TIP759: The Art of Spending Money w/ Morgan Housel

Oct 10, 2025

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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

Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.

Morgan’s new book: The Art of Spending Money.

Morgan’s other books: Same as Ever and The Psychology of Money.

Morgan’s Podcast.

Related Episode: TIP351: The Psychology of Money w/ Morgan Housel.

Related Episode: TIP602: Same as Ever w/ Morgan Housel.

Follow Morgan on X.

Follow Clay on ⁠⁠LinkedIn⁠⁠ & ⁠⁠X⁠⁠.

Related ⁠⁠books⁠⁠ mentioned in the podcast.

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