How to Make the Most of Your Money in the New Year — ft. Morgan Housel| Prof G Markets

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This week on Prof G Markets, Morgan Housel, New York Times bestselling author of “The Psychology of Money,” joins the show to break down why the holidays are such a stressful time financially – and how we can all navigate it. He also discusses how to shift your mindset around money in the new year, make the most of bonuses, and determine what “spending well” really means for you. Order Algebra of Wealth now! https://www.amazon.com/Algebra-Wealth-Formula-Financial-Security/dp/0593714024 Timestamps: 00:00 - Today's episode 00:49 - Why are the holidays financially stressful, and how can we manage it? 02:58 - Do you think America places too much emphasis on gifts? 05:09 - Do you have any other rules or recommendations on holiday gifting? 06:59 - How do you think about gifts for your kids? 08:38 - What are some ways to recover and thrive after a challenging year? 10:29 - How do you shift your perspective around money? 12:14 - Break 12:31 - What’s the best way to approach a bonus if you’re not sure how to spend it? 14:46 - To what extent should we be spending money on frivolous things? 17:24 - What does spending your money well mean to you? 20:46 - Break 21:02 - Do you think new year’s resolutions are effective? 22:52 - What are some more effective ways that we can establish good financial habits? 24:25 - Is there a practical thing we can do to figure out what is important to us and what makes us happy? 26:20 - What are some of the main things you’ve learned about spending? 27:44 - Did you learn things about yourself writing your new book? 28:39 - How do you deal with detaching yourself from envy when it comes to spending? 31:56 - Do you have a ranking system of what is most important to you? 33:14 - Do you have any advice for young people around money and spending going into 2025? 34:49 - Do you have any new year’s resolutions or goals for 2025? 35:35 - Can you give us a summary of your new book “The Art of Spending Money”? Subscribe to Prof G Markets on Spotify https://open.spotify.com/show/7syF2ry9j6nqYc656WHBA7?si=78a5eaf1793b466e Follow us on Apple Podcasts https://podcasts.apple.com/us/podcast/prof-g-markets/id1744631325 Want more Prof G? Check out everything we're up to at https://profgmedia.com/ #business #news #tech #financemotivation #stockmarket #profg #scottgalloway #profgmarkets #ai #earnings #stocks #investmentstrategies #investment #investing #gdp #money #spendingmoney #moneymanagement #moneytips