Morgan Housel: Saving Your Income

Posted by admin on Friday, April 28, 2023

Meaning of Morgan Housel Money Quote: saying how much you save may be determined by the size of your ego more than your income. Morgan Housel said:

Saving is the gap between your ego and your income Quote

Saving is the gap between your ego and your income” — Morgan Housel


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Morgan Housel seems to be suggesting that saving money requires controlling one’s ego or sense of self-importance in relation to what one earns. His view appears to be that it can be easy for people to spend all of their income or more if their ego leads them to live beyond their means and financial capabilities.

However, creating a gap between one’s income and expenditures by saving a portion requires discipline and avoiding ego-driven spending impulses.

The quote conveys Housel’s message that developing prudent financial habits necessitates keeping one’s ego in check and not feeling entitled to spend every dollar earned immediately due to feelings of self-worth. Savings acts as a buffer between earnings and ego-driven consumption.

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