Posts Tagged ‘Morgan Housel’

Morgan Housel: Year Lottery Tickets

Posted by admin on Monday, February 19, 2024

Meaning of Morgan Housel Money Quote: saying Low-income families are putting $400 yearly into Lottery tickets instead of saving for emergencies. Morgan Housel said:
 
 
The lowest-income households in the U.S. on average spend $412 a year on lotto tickets, four times the amount of those in the highest income groups Quote
 

The lowest-income households in the U.S. on average spend $412 a year on lotto tickets, four times the amount of those in the highest income groups. Forty percent of Americans cannot come up with $400 in an emergency. Which is to say: Those buying $400 in lottery tickets are by and large the same people who say they couldn’t come up with $400 in an emergency” — Morgan Housel

 

Share </> Quote Image

Share the Morgan Housel Money quote image above on your site:

 
Short Link to this Quote:

[collapse]

This quote from Morgan Housel is pointing out an interesting contradiction in spending habits. While the lowest-income households spend much more on lottery tickets compared to higher earners, around 40% of Americans say they do not have $400 available for an emergency.

This suggests that many of the people spending $400 or more per year on lottery tickets are among those who claim they could not come up with $400 if needed. In other words, those with relatively low incomes are devoting a significant amount of money to lottery tickets despite indicating that they have little financial flexibility or emergency savings.

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

 

Share </> Quote Image

Share the Morgan Housel Money quote image above on your site:

 
Short Link to this Quote:

[collapse]

 

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.

Morgan Housel: Money Control Time

Posted by admin on Tuesday, February 21, 2023

Meaning of Morgan Housel Money Quote: saying having money means that you can control how you spend your time, based on what makes you happy. Morgan Housel said:

 
when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance Quote
 

“Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what you want, when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance” — Morgan Housel

 

Share </> Quote Image

Share the Morgan Housel Money quote image above on your site:

 
Short Link to this Quote:

[collapse]

 

In this quote, Morgan Housel is saying that using money strategically can help gain more control over one’s time. When a person has financial resources, they have more freedom to choose how to spend their time – on activities, with people, for durations that they personally find meaningful and that bring them happiness. Housel argues that having this sense of autonomy and control over one’s schedule is extremely valuable for well-being and life satisfaction.

Therefore, gaining financial independence through wise money management can generate high returns in terms of quality of life, even if it does not directly earn high monetary returns. The key message is that money allows greater personal agency over how time is spent, and this ability to self-determine one’s schedule is closely tied to happiness.

Morgan Housel: Spend Money Fast

Posted by admin on Monday, February 13, 2023

Meaning of Morgan Housel Money Quote: saying spending to prove that you have lots of money to spend is a way to quickly rid yourself of it. Morgan Housel said:

 
Spending money to show people how much money you have is the fastest way to have less money Quote
 

“Spending money to show people how much money you have is the fastest way to have less money” — Morgan Housel

 

Share </> Quote Image

Share the Morgan Housel Money quote image above on your site:

 
Short Link to this Quote:

[collapse]

 

Morgan Housel seems to be cautioning against spending money primarily to impress others or boost one’s image by flaunting wealth. His view is that this type of conspicuous consumption focused on displaying high earnings or status to people is ironically an effective way to quickly diminish one’s actual financial resources over time.

Housel’s quote suggests that lavish spending aimed at signaling affluence to others through expensive displays is usually not a sustainable practice and will ultimately lead to having less money available if it replaces responsible financial management and savings.

Overall, he appears to be advising against prioritizing appearances over fiscal discipline when it comes to expenditure

Morgan Housel: Intrinsic Value

Posted by admin on Thursday, February 2, 2023

Meaning of Morgan Housel Money Quote: saying can’t overemphasize the true value of money – control over time. Morgan Housel said:

 
Money’s greatest intrinsic value to give you control over your time Quote
 

“Money’s greatest intrinsic value — and this can’t be overstated — is its ability to give you control over your time” — Morgan Housel

 

Share </> Quote Image

Share the Morgan Housel Money quote image above on your site:

 
Short Link to this Quote:

[collapse]

 

Morgan Housel seems to be emphasizing the importance of money’s ability to buy freedom and control over how one spends their time.

His view is that having sufficient financial resources allows people to choose how they allocate their hours each day rather than being constrained or compelled to work primarily out of necessity.

Housel’s quote suggests that money’s greatest inherent worth lies in providing independence and discretion over one’s schedule by reducing dependence on others or an inflexible job for survival.

Overall, he appears to be arguing that money’s primary value is in effectively purchasing more personal autonomy and discretion in the use of one’s own time.

Money Quotes Daily

Money Quotes Daily