Morgan Housel, author of “The Art of Spending Money,” explains.
Transcript:
Caroline Woods: What are some common myths that people kind of fall into when it comes to money and spending?
Morgan Housel: So much of it, as we said, is the idea that there is a solution. There is one right answer for you and I, and that this is like math squared plus 2 equals 4 for everybody. That’s that’s a very attractive thing to want to believe. It seems common sense and it’s almost never true that you really that it’s very similar to your taste in music or your taste in food. People have very different, different, different wants and needs. And one person isn’t right or wrong. It’s just. And that’s why his book is called The Art of spending money. It’s not called The Science of spending money because I don’t think that exists. There’s no hard and fast rules and formulas for how to do it.
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