Episode Details

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My guest today is Laura Vanderkam who is the author of several books about time management & productivity. She first appeared on this show to talk about her latest book, Tranquility by Tuesday: 9 Ways to Calm the Chaos and Make Time for What Matters, which I highly recommend you listen to if you haven’t yet. Today, she's back because of a book she wrote more than 10 years ago, All the Money in the World: What the Happiest People Know About Wealth.

Now, before you dismiss this as just another financial advice episode with a self-proclaimed 'financial guru,' hold on. Laura and I delve deep into the psychology of wealth, where money, happiness, and fulfillment intersect. In our conversation, we talk about the real reason people struggle to find fulfillment regardless of their financial standing. More importantly, Laura reveals how some happiness can be bought and it might not be as expensive as you think.

I have no doubt that Laura's unique perspective on money is still so relevant today as it was when she wrote it, it will help you make better choices and find fulfillment no matter where you stand financially.

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Here's What You'll Learn:

• The similarities and differences of money management and time management
• How scarcity mindset affects your decisions
• The money question people find hard to answer and the reason why
• What the 2010 Daniel Kahneman study reveals and why it matters
• Can money buy happiness?
• The difference between happiness, fulfillment and well-being
• What is ‘opportunity cost’ and how can it affect the quality of your life
• What the word ‘enough’ really means
• How being clear on your values can help you make better financial decisions
• 1099 mindset vs W2 mindset: and how each one can change your perspective
• The most important questions to ask yourself when making a decision about your finances
• Why people still can’t find fulfillment after being ‘retired’

Useful Resources Mentioned:

Using Time Tracking and Habit Formation to Create Moments That Matter | with Laura Vanderkam

"All the Money in the World" | A Book by Laura Vanderkam

Laura Vanderkam: How to gain control of your free time | TED Talk

Coffee shop economics (people are a good use of time) - Laura Vanderkam

Daniel Kahneman study on income and happiness