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The Psychology of Money | Simple Money Rules That Will Make You Rich with Morgan Housel

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Manage episode 473186510 series 1319843
Content provided by Ed Mylett and Ed Mylett | Cumulus Podcast Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Ed Mylett and Ed Mylett | Cumulus Podcast Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Are You Making This Huge Money Mistake?

Most people think they need to make more money to get rich. But what if I told you that’s exactly why they’re broke? Today, I’m sitting down with Morgan Housel, the author of The Psychology of Money, to completely rewire the way you think about wealth, security, and financial freedom. If you’ve ever wondered why some people who earn millions still end up broke while others with modest salaries quietly build real wealth, this episode is for you.

We break down the difference between being rich and being wealthy, why chasing status is a financial trap, and how most people dramatically underestimate how much money they’ll need to stop working one day. Morgan shares why simple beats complex when it comes to investing, the real cost of debt-driven wealth, and how saving money isn’t just about you—it’s about being ready for life’s inevitable curveballs.

I also open up about my own financial mindset—how fear of being broke has been a bigger driver for me than the excitement of getting rich, and why even after years of making an eight-figure income, I’ve stuck to a strategy of endurance, not shortcuts. Whether you’re just starting your financial journey or trying to level up, this conversation will challenge what you thought you knew about money.

What You’ll Learn in This Episode:

  • Why most people who want to be millionaires actually spend like they already are—and that’s why they stay broke
  • The #1 habit of the wealthy (hint: it has nothing to do with income)
  • How compounding works in real life and why it’s the most powerful tool you’re probably ignoring
  • The psychological traps that keep you from saving and investing
  • Why financial independence is really about having options, not just money
  • The hidden cost of chasing status and external approval
  • How to prepare for life’s financial curveballs—because they WILL happen

At the end of the day, it’s not just about how much you make—it’s about how long you can keep it. Don’t miss this one.

Listen now and take control of your financial future!

👉 SUBSCRIBE TO ED'S YOUTUBE CHANNEL NOW 👈

→ → → CONNECT WITH ED MYLETT ON SOCIAL MEDIA: ← ← ←

➡️ INSTAGRAM

➡️FACEBOOK

➡️ LINKEDIN

➡️ X / TWITTER

➡️ WEBSITE

Learn more about your ad choices. Visit podcastchoices.com/adchoices

  continue reading

550 episodes

Artwork
iconShare
 
Manage episode 473186510 series 1319843
Content provided by Ed Mylett and Ed Mylett | Cumulus Podcast Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Ed Mylett and Ed Mylett | Cumulus Podcast Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Are You Making This Huge Money Mistake?

Most people think they need to make more money to get rich. But what if I told you that’s exactly why they’re broke? Today, I’m sitting down with Morgan Housel, the author of The Psychology of Money, to completely rewire the way you think about wealth, security, and financial freedom. If you’ve ever wondered why some people who earn millions still end up broke while others with modest salaries quietly build real wealth, this episode is for you.

We break down the difference between being rich and being wealthy, why chasing status is a financial trap, and how most people dramatically underestimate how much money they’ll need to stop working one day. Morgan shares why simple beats complex when it comes to investing, the real cost of debt-driven wealth, and how saving money isn’t just about you—it’s about being ready for life’s inevitable curveballs.

I also open up about my own financial mindset—how fear of being broke has been a bigger driver for me than the excitement of getting rich, and why even after years of making an eight-figure income, I’ve stuck to a strategy of endurance, not shortcuts. Whether you’re just starting your financial journey or trying to level up, this conversation will challenge what you thought you knew about money.

What You’ll Learn in This Episode:

  • Why most people who want to be millionaires actually spend like they already are—and that’s why they stay broke
  • The #1 habit of the wealthy (hint: it has nothing to do with income)
  • How compounding works in real life and why it’s the most powerful tool you’re probably ignoring
  • The psychological traps that keep you from saving and investing
  • Why financial independence is really about having options, not just money
  • The hidden cost of chasing status and external approval
  • How to prepare for life’s financial curveballs—because they WILL happen

At the end of the day, it’s not just about how much you make—it’s about how long you can keep it. Don’t miss this one.

Listen now and take control of your financial future!

👉 SUBSCRIBE TO ED'S YOUTUBE CHANNEL NOW 👈

→ → → CONNECT WITH ED MYLETT ON SOCIAL MEDIA: ← ← ←

➡️ INSTAGRAM

➡️FACEBOOK

➡️ LINKEDIN

➡️ X / TWITTER

➡️ WEBSITE

Learn more about your ad choices. Visit podcastchoices.com/adchoices

  continue reading

550 episodes

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