The Psychology Of Money | Tom Bilyeu

Are you playing the game, or being played by it?Tom Bilyeu is an entrepreneur, co-founder of Quest Nutrition, and founder of Impact Theory, one of the most-watched interview platforms in the world. He has spent years studying the systems that shape financial outcomes, and in this conversation with Dr. Michael Gervais, he makes a case that most people find unsettling: the financial system you're working inside was not designed with your interests in mind.Tom argues that the single most important thing most people are missing is not effort or ambition, it's a clear-eyed understanding of how the system actually works. He walks through why inflation is not a natural economic phenomenon but a mechanism that quietly transfers purchasing power from workers to asset owners, why 10% of Americans own 93% of assets, and why the gap between the wealthy and everyone else is not a bug in the system, it's a feature.But this conversation goes well beyond economic critique. It's also about the beliefs and mental models we carry that keep us operating on a map that no longer matches the terrain. Tom introduces the idea that beliefs are not truths, they're interpretations, and that updating them, especially the ones about money, work, and what's possible, is the most leveraged thing a person can do. He also offers a clear-eyed take on AI and why the people who learn to use it as a force multiplier will have an enormous edge over those who don't.In this conversation, we explore:Why the Federal Reserve system was designed to benefit asset owners and how inflation quietly steals purchasing powerHow 10% of Americans came to own 93% of assets, and why it was baked in by designWhy your beliefs are interpretations, not truths, and how to use that insight to your advantageHow to think about investing across 12 to 15 economic forces rather than chasing individual stocksWhy AI is the most important force multiplier available right now, and how to use it without losing your own thinkingWhat the K-shaped economy is, what it means for the next generation, and what parents need to knowTom's not here to make you feel good about where things stand and where we’re headed. He's here to hand you a better map. What you do with it is up to you.___________________________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Why do we keep chasing happiness in ways that don't actually work?Dr. Laurie Santos is a cognitive scientist and professor of psychology at Yale, where she created the most popular course in the university's 300-year history, the Science of Well-Being. Since then, that course has reached millions of people around the world, and her podcast, The Happiness Lab, has become one of the most trusted resources on the science of living well. In this conversation with Dr. Michael Gervais, Laurie pulls back the curtain on why our minds so reliably get happiness wrong, and what we can do about it.The conversation starts with a sobering look at the student mental health crisis: more than 40% of college students report being too depressed to function, more than 60% report overwhelming anxiety. Laurie saw it firsthand at Yale, and it launched her on a mission to translate happiness research into practical tools that actually work.She explains why the things we predict will make us happy – more money, more success, more achievement – don't deliver the boost we expect, or the lasting satisfaction we hope for. She digs into the science of social comparison, why our brains default to the comparisons that make us feel worse, and why even the most high-performing people can feel inexplicably stuck. And she outlines the evidence-based habits, social connection, mindset shifts, emotional awareness, that actually move the needle.In this conversation, we explore:Why our minds are wired to predict happiness incorrectlyHow social comparison shapes our experience of achievement, and rarely in our favorWhat the research actually says about money, status, and wellbeingWhy social connection is the most underrated predictor of happinessHow to work with your emotions rather than suppress or spiral into themWhat leaders and organizations can do to build genuinely happier, higher-performing teamsEveryone wants to live a good life. This is one of those rare conversations that might genuinely help you do it.____________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Why do diets so often fail... is it discipline or biology?Dr. Jason Fung is a physician, nephrologist, and one of the most influential voices challenging how we understand metabolism, obesity, and chronic disease. He is the bestselling author of The Obesity Code, The Diabetes Code, and his newest book, The Hunger Code, which explores a deceptively powerful question: what is actually driving hunger, and what does the answer tell us about why so many people struggle with their weight?In this conversation with Dr. Michael Gervais, Dr. Fung explains why the standard advice of "eat less and move more" isn't just ineffective, it's missing the point entirely. The real question isn't how much you eat. It's why you eat. And the answer, he argues, is far more complex, and far more interesting, than anyone has told us.At the center of the conversation is Dr. Fung's framework of three distinct types of hunger: homeostatic hunger, driven by hormones and biology; hedonic hunger, driven by pleasure and reward; and conditioned hunger, driven by environment and learned behavior. Each has its own cause, its own pattern, and its own solution. And until we understand which type of hunger we're dealing with, we'll keep solving the wrong problem.Dr. Fung also digs into the science of insulin, explaining why it is the master switch of fat storage and release, why ultra-processed foods are designed to spike it in ways that leave us hungry again almost immediately, and why intermittent fasting can be one of the most powerful tools available for driving insulin down and letting the body do what it's built to do.The conversation covers a lot of ground: the GLP-1 debate, the gender differences in fasting, what perimenopause does to appetite, how food order affects insulin response, why walking after a meal can reduce your insulin spikes, and why the cultural food environments of Italy and Japan offer a compelling blueprint for what sustainable health can actually look like.In this conversation, we explore:Why "eat less, move more" fails to address the root cause of weight gainThe three types of hunger and how each one requires a different responseHow ultra-processed foods hijack biology, behavior, and environment all at onceWhy insulin, not calories, is the key metabolic variable to understandHow intermittent fasting works, who it's for, and how to do it wellWhat perimenopause does to hunger hormones, and what to do about itWhy the Italian and Japanese food environments produce radically different health outcomesYour hunger isn't a character flaw. Learn what's actually behind it.__________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What separates the athletes who perform when it matters most from those who don't... and can that difference be trained?Michael Johnson is one of the greatest sprinters in history: four-time Olympic gold medalist, nine-time World Champion, and the former world record holder in both the 200 and 400 meters. He was also, by his own account, one of the most psychologically prepared competitors the sport has ever seen.In this conversation with Dr. Michael Gervais, Michael takes us inside the hidden moments before the race, the call room, the gathering space beneath the stadium where eight finalists wait together in silence (or something far less than silence) before stepping out under the brightest lights in sport. He explains why the call room isn't just a logistical stop before the race. It's where the race is often decided. And he breaks down exactly how he prepared his mind to show up there.At the center of the conversation is a distinction that Michael discovered early in his career: the difference between being nervous and being scared. Nervousness, he came to understand, was fuel, a sign that he wanted it, that he was alive to the moment. Fear was something different. Fear meant he was underprepared. And once he understood that, he could do something about it.Michael shares how he used mental imagery, constantly, automatically, almost without thinking, to rehearse races until every scenario felt familiar. He explains how he learned to control his environment on race day, why Usain Bolt's pre-race routine was the polar opposite of his own (and worked just as well), and what it really means to master the controllables when the world's fastest sprinters are sitting two feet away trying to get into your head.The conversation also moves into the second half of Michael's life. Eight years ago, at age 50, he suffered a stroke that forced him to relearn how to walk. He reflects on how the same mental frameworks that made him a champion, recognizing small improvements, managing what he could control, and staying present in the process, carried him through that recovery. And he opens up about what the experience taught him: how to depend on people, how to let relationships go both ways, and why the things he'd always controlled most tightly weren't the things that mattered most.In this conversation, we explore:Why the call room is where races are won and lost, and how to navigate itThe difference between nervousness (fuel) and fear (a signal of underpreparation)How Michael used mental imagery every single day, without structure or scheduleWhy self-knowledge is the single most impactful factor in sustained performanceHow Usain Bolt's exact opposite approach led to the same outcome, and what that meansWhat a stroke at 50 taught Michael about control, vulnerability, and relationshipsThe call room is everywhere. Learn how to master it.__________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

There's a version of honesty most of us have never tried. Not brutal honesty. Not radical honesty. Something quieter and more demanding than either: a genuine commitment to saying what is true and useful, and nothing else.That is where this conversation begins.Sam Harris, neuroscientist, philosopher, bestselling author, host of the Making Sense podcast, and creator of the Waking Up app, joins Dr. Michael Gervais for a conversation that moves across truth, consciousness, AI, religion, and the inner mechanics of the mind. What starts as a discussion about lying becomes something much larger: an examination of the hidden forces that shape what we believe, who we trust, and how free we actually are.Sam and Dr. Mike explore what it costs us to keep two sets of books — one for people we care about, one for everyone else. They dig into why high-performing environments depend on truth-telling, how tribalism and dogmatism reliably pull us away from reality, and what it might mean to find solid ground in an era of increasing chaos.And then the conversation turns inward. To thoughts, awareness, and the gap between pain and suffering. To what meditation actually is and what it can do. To the possibility that the freedom most of us are chasing doesn't require changing our circumstances at all.If you are trying to get more honest with yourself and the people around you, this conversation will give you a lot to work with.In this conversation, you'll learn:Why a commitment to not lying is one of the most clarifying decisions a person can makeHow tribalism and dogmatism corrupt our access to truth and keep us dividedWhat AI and deep fakes may actually do to our relationship with institutions and shared realityThe difference between pain and suffering, and why that gap mattersWhy you are not your thoughts, and what opens up when you more fully understand thatWe’re excited for you to listen. __________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What if the biggest barrier between you and your potential isn’t talent - but a belief you’ve never questioned?Nir Eyal is a behavioral design expert and the bestselling author of Hooked, Indistractable, and his newest book, Beyond Belief. In this conversation with Dr. Michael Gervais, he explores a deceptively powerful idea: that beliefs operate like the hidden software of the mind, shaping what we notice, what we feel, what we attempt, and what we assume is possible.At the center of the conversation is a problem most of us know very intimately: If we already know what to do, why don’t we do it? Nir argues that motivation is not simply about knowing the right behavior or wanting the right outcome. Holding it all together is belief, the often invisible layer that determines whether we think change is possible, whether our effort is worth it, and whether we believe we are capable of following through.Nir breaks down the difference between facts, faith, and beliefs, and offers a compelling reframing: beliefs are not truths, they are tools. From there, he explores the difference between limiting beliefs and liberating beliefs, why the mind defaults toward safety and passivity, and how small acts of agency can begin to reshape what we think is available to us.Mike and Nir also dig into the relationship between pain and suffering, learned helplessness and hope, and the role interpretation plays in human performance. Along the way, they unpack how beliefs shape our attention, anticipation, and agency, and why changing a belief is often less about finding “the truth” and more about testing perspectives that better serve the life we want to live.This is a conversation about motivation, resilience, and the invisible architecture of our inner life. If you’ve ever felt stuck, frustrated that insight alone isn’t producing change, or curious about the mental filters shaping your performance, this one is for you. __________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What does it look like to bet on yourself, embrace reinvention, and build a YouTube channel that reaches millions?Michelle Khare is the creator and host of Challenge Accepted, the award-winning YouTube series where sherains with elite performers, athletes, and professionals to take on some of the world’s toughest stunts and professions. But this conversation goes far beyond spectacle. It’s about the psychology underneath the performance: how Michelle prepares for high-pressure environments, how she thinks about failure, and how she’s built a serious creative business without losing the joy at the center of it. In this conversation, Michelle shares how her path began at the intersection of two demanding worlds: working as a video producer by day while competing as a professional cyclist at night. Out of that tension, she created something new — a format that blends physical challenge, storytelling, and deep iteration. She talks about the early trial-and-error phase of building her channel, the importance of owning her own IP, and why many creators don’t realize they’ve already become entrepreneurs. Michelle also opens up about what it means to fail in public. She explains why growth often depends on being willing to look unpolished in front of other people, how she identifies her “strategic advantages” in unfamiliar environments, and why the low points — not just the polished outcomes — are what actually make a story worth telling. Along the way, she offers a compelling look at how she built a YouTube channel with over 5.4 million loyal subscribers. In this conversation, we explore:Why courage becomes more useful when it is systematizedHow Michelle built Challenge Accepted by blending athletics, storytelling, and businessWhy willingness to fail publicly can become a competitive advantageHow to identify your “strategic advantages” in unfamiliar environmentsWhy relationships, feedback, and team culture are essential to longevityHow to elevate the YouTube creator space into a respected part of the entertainment industryThis is a conversation about courage, yes, but also about design. How do you build a life where courage is not occasional, but trainable? How do you stay ambitious without burning out? And how you can keep evolving while staying grounded in the people and principles that matter most.__________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What questions are tugging at you right now, and how might exploring the answers help you live and perform with more clarity?We’re back with a special edition of the Finding Mastery podcast: another Ask Me Anything episode, built from the deep, thoughtful questions submitted by our community.In this AMA, Michael Gervais is joined by Jeff Byers, former NFL player, Co-Founder and CEO of Momentous, and longtime friend of Finding Mastery. Jeff has built something very special with Momentous, a supplement company grounded in transparency and integrity in an industry that can be full of noise and misinformation. He often says trust is earned, and he takes that responsibility personally.His relentless approach to mastery, both for himself and for the team he’s building at Momentous—makes him an ideal co-host to help Mike wrestle with questions across a wide range of topics… how to perform with more clarity, how to work skillfully with strong emotions, and how to build a life that feels aligned with what matters most.Key insights we explored:Shift from perfection to purpose… why “the constant pursuit of perfectionism” is a setup for burnout, and how purpose changes the whole frame.Downregulating the nervous system… practical ways to move from sympathetic “on” to parasympathetic “rest and digest,” including breath, gaze, laughter, touch, nature, and intentionally induced recovery.Anger and emotional skill… how to feel anger without outward harm or inward collapse, and why the goal is to build the capacity to be “unbothered.”Loneliness and connection… why loneliness can surge when you leave familiar people and routines, and how “time-boxing” the feeling can help you train it instead of letting it bleed through the entire day.Reflection when life is full… how to build a sustainable rhythm for inner work, from 90-second practices to scheduled retreats, and why scheduling and celebration matter. If you find yourself wrestling with perfectionism, emotional spillover, loneliness, or a life that won’t slow down, this AMA is a strong reminder that mastery is trained—one choice, one practice, one reset at a time.__________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What if the hardest part of money isn’t earning it, but knowing how to use it well?Morgan Housel, bestselling author of The Psychology of Money, returns to Finding Mastery to explore the core idea behind his newest bestselling book, The Art of Spending Money. In this next chapter of his work, Morgan shifts the conversation away from accumulation and toward a deeper question: after the basics are covered, what role should money actually play in your life?While most financial advice focuses on how to earn and invest, Morgan argues that the more consequential skill is learning how to spend in alignment with your values. The challenge isn’t simply getting rich. It’s defining “enough.”In this conversation, Dr. Michael Gervais and Morgan unpack why money decisions are rarely logical and almost always emotional… shaped by identity, comparison, uncertainty, and the quiet pull of status. They explore the psychological difference between getting rich and staying rich, why uncertainty is a permanent feature of life, and how financial independence — not prestige — may be the real prize.At the center of it all is a powerful reframe:Money is a tool, not a scorecard.In this episode, we explore:Why money anxiety persists even when you’re “doing fine” on paperHow comparison and status influence spending decisionsWhat it means to use money in service of “a good life”Why defining “enough” matters more than earning “more”How to spend with more intention and fewer regretsIf you’re serious about building a life that feels aligned — not just impressive — this conversation offers a grounded, psychologically rigorous lens on how to think about money differently.__________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Why are young people today reporting the highest levels of anxiety, depression, loneliness, and despair in modern history?Dr. Angela Duckworth is a professor of psychology at the University of Pennsylvania and one of the world’s leading voices on grit, self-control, and the science of thriving. In this conversation with Dr. Michael Gervais, Angela reflects on how her thinking about grit has evolved, where it’s often misunderstood, and why perseverance without purpose can become harmful instead of helpful.They explore what excellence really looks like behind the scenes. Not the highlight reel, but the long stretch of deliberate practice and repeated effort that most people never see. Angela also reframes passion as something that develops over time, and offers a practical lens for staying committed when enthusiasm fades and outcomes take longer than expected.The conversation expands beyond performance into family life and parenting. They examine the cultural forces shaping today’s youth: the rise of social media, the erosion of in-person connection, the displacement of nature, and the unintended consequences of modern parenting. Angela shares what the data actually shows about the mental health crisis, and what we as parents, educators, and leaders can do about it.  In this episode, you’ll learn:What grit really is, and what it isn’t Why excellence comes from high-quality practice over timeHow passion develops slowly, and why it can be treated like a skillHow to stay committed when motivation fadesWhy environments shape kids more than pressure doesWhy young people’s happiness has sharply declined since 2010What the research says about anxiety, depression, and loneliness in Gen ZHow screens and social disconnection may be reshaping well-beingPractical ways parents can create environments where kids can truly thrive________________________________________________________Links & ResourcesSubscribe to our Youtube Channel for more conversations at the intersection of high performance, leadership, and wellbeing: https://www.youtube.com/c/FindingMasteryGet exclusive discounts and support our amazing sponsors! Go to: https://findingmastery.com/sponsors/Subscribe to the Finding Mastery newsletter for weekly high performance insights: https://www.findingmastery.com/newsletter Download Dr. Mike's Morning Mindset Routine: findingmastery.com/morningmindset Follow on YouTube, Instagram, LinkedIn, and XDavid Blanchflower Article: Blanchflower DG, Bryson A, Xu X (2025) “The declining mental health of the young and the global disappearance of the unhappiness hump shape in age.” https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0327858See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.