In this episode, my guest is Morgan Housel, an expert in private wealth generation and management and author of the bestselling book The Psychology of Money. We discuss how desiring, pursuing, saving, and spending money impact our psychology and perception of wealth. We explore why people tend to either overspend or oversave and examine the most common mistakes made in the pursuit of financial freedom. Additionally, we discuss how to best use money — and one’s relationship with it — as a tool to create psychological security, freedom, and a deeper sense of life purpose. We also delve into the impact of purchases, social media, and wealth signaling on our internal reward circuits, the dangers of using money as a gauge of career progress or self-worth, and the healthiest psychological stances to adopt while building wealth at any level. By the end of the episode, listeners will have gained numerous practical tools for making smarter financial decisions and should have a clearer understanding of the role money plays in their psychology, happiness, and life. Read the full show notes for this episode: https://go.hubermanlab.com/xNY9PwA Use Ask Huberman Lab, our chat-based tool, for summaries, clips, and insights from this episode: https://go.hubermanlab.com/yny2Ghe Pre-order Andrew's new book, Protocols: https://protocolsbook.com *Thank you to our sponsors* AG1: https://drinkag1.com/huberman Wealthfront**: https://wealthfront.com/huberman BetterHelp: https://betterhelp.com/huberman ROKA: https://roka.com/huberman Function: https://functionhealth.com/huberman **This experience may not be representative of the experience of other clients of Wealthfront, and there is no guarantee that all clients will have similar experiences. Cash Account is offered by Wealthfront Brokerage LLC, Member Finra/SIPC. Promo terms and FDIC coverage conditions apply. Same-day withdrawal or instant payment transfers may be limited by destination institutions, daily transaction caps, and by participating entities such as Wells Fargo, the RTP® Network, and FedNow® Service. New Cash Account deposits are subject to a 2-4 day holding period before becoming available for transfer. *Morgan Housel* Website: https://www.morganhousel.com The Psychology of Money (book): https://amzlink.to/az0UUEDppwnJS Same as Ever (book): https://amzlink.to/az0eNCRcQhC6t The Morgan Housel Podcast: https://pod.link/1675310669 Blog: https://collabfund.com/blog/authors/morgan Collaborative Fund: https://collabfund.com X: https://x.com/morganhousel Instagram: https://www.instagram.com/morganhousel Threads: https://www.threads.net/@morganhousel LinkedIn: https://www.linkedin.com/in/morgan-housel-5b473821 *Timestamps* #HubermanLab #MorganHousel #Psychology #Money #Happiness Disclaimer: https://www.hubermanlab.com/disclaimer