In a breezy chat on the Bankless podcast, Morgan Housel unpacks how to spend in ways that actually boost happiness—distinguishing status buys from satisfaction buys, escaping the hedonic treadmill, and why the ultimate purchase is independence. He also tackles identity traps, social debt, and the idea that sometimes stepping off the relentless money race is the smartest move.
Beyond big ideas, Housel lays out a practical 15-stage path to financial freedom, reveals the magic of “quiet compounding,” and shares hands-on tips for balancing saving vs. spending, teaching kids about money without spoiling them, and running small experiments to get more joy out of every dollar.
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