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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:

Ep203: 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

Ramit Sethi Podcast Interview on Forging Your Own Rich Life: Episode 105

How to Overcome Your Upper Limits

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Ep43: How to Optimize Your Finances As a Freelancer or Small Business Owner | with Sylvia Inks

Ep88: The ‘Profit First’ Financial System (That Gives You the Freedom to Say ‘No’ to the Wrong Gigs) | with Mike Michalowicz

Ep240: Stop Delaying Your Dreams and Live a Life Rich in Experiences | with Bridget Hilton & Joe Huff

Ep132: How to Pursue Fulfilling Work and Find Your ‘Calling’ | with Dr. Tal Ben-Shahar

Ep77: Your Time Is Worthless (Here’s How to Invest It Properly) | with Matt Sandrini

Ep171: How to Determine If a Job Is Worth The Costs | Mastermind Q&A

Ep220: William Zabka on Managing Overnight Success, Choosing the Right Opportunities (to Avoid Being Pigeonholed), Staying Creative, and Balancing Fatherhood with Hollywood

Ep219: How to Know What You Actually Want (and Find Support to Make It Happen) | with Philippe Danielides

Guest Bio:

laura-vanderkam-bio Laura Vanderkam

Laura Vanderkam is the author of several time management and productivity books, including the new Tranquility by Tuesday: 9 Ways to Calm the Chaos and Make Time for What Matters, along with Juliet’s School of Possibilities, Off the Clock, I Know How She Does It, What the Most Successful People Do Before Breakfast, and 168 Hours. Her work has appeared in publications including the New York Times, the Wall Street Journal, Fast Company, and Fortune. She is the host of the podcast Before Breakfast and the co-host, with Sarah Hart-Unger, of the podcast Best of Both Worlds. She lives outside Philadelphia with her husband and five children, and blogs at lauravanderkam.com.

Show Credits:

This episode was edited by Curtis Fritsch, and the show notes were prepared by Debby Germino and published by Glen McNiel.

The original music in the opening and closing of the show is courtesy of Joe Trapanese (who is quite possibly one of the most talented composers on the face of the planet).

Ep241: How to Optimize Your Money to Buy You Time (and Experiences) | with Laura Vanderkam

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Ep241: How to Optimize Your Money to Buy You Time (and Experiences) | with Laura Vanderkam