How To Stop Wasting Money & Finally Start Saving! | Morgan Housel

Morgan Housel reveals how to break free from wasteful spending habits and embark on a journey towards smart saving.

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[John-wwfv]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

[Abi_]

When you grow up poor, you're used to going without. So as soon as you get a bit of money, you feel you should treat yourself to all the things you couldn't have before (takeaways, new clothes, new shoes etc). Also, you're accustomed to being poor, so when the money's gone, you think, "Oh well, I'm skint again." It's easy to develop an 'easy come, easy go' mentality with money and so you just keep repeating the same pattern. But, as Stephen attested to, once you've got money, you don't want to buy those frivolous things, probably because you know you can have what you want when you want, so the urge to 'treat yourself' isn't as strong.

[kerendn]

Being productive doesn't necessarily mean making money. If I were fully financially independent, I would be productive. There are things I love doing, but they don't necessarily bring in money.

[keithrandolph]

I’ve heard that gambling/the lottery is a tax on the poor. Stands to reason.

[GBLyrics]

I’ve always referred to these expenses as “poor people tax”. Basically anything that is massively taxed but also accessible to everybody. Beer, cigarettes and every form of gambling. It’s all put in place to keep people poor and to get as much tax out of them as possible

[cherinewiltshire]

Thank you for sharing this with us Stephen, we have to make mistakes to learn and move on in a positive way. 👍🏻✨

[Historyteacheraz]

Everything Morgan does is great! A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger teaches new investors there key investment principles.

[carlyndolphin]

I grew up in a poor family. I left school with no qualifications due to having dyslexia. Despite my condition my net worth is £5 million. I drive a 1 series BMW worth £8, 000.

[paulfitness]

I've changed from a non saver to saver

[jakealexander]

The best ways is the simplest way. Find what you are good at and like to do and where can you get paid doing that that can sustain your lifestyle. If there are none then downgrade your lifestyle till you can. :) if you cannot then approach NGOs or government on where can you get work.

[podcastsyoutube]

Why was he so adamant Tom from Myspace made 50M? It was 500M.. huge difference

[Turtlpwr]

By far the most depressing clip I’ve watched on this channel.

[loftss]

I don’t like when host swears, would want my child to listen to it