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In this edition of Money's Summer Reading List, author Angela Duckworth sits down to discuss her new book Grit: The Power of Passion and Perseverance. Duckworth explains how we can apply "grit" to our everyday lives.

"Grit is a combination of two things: perseverance over the very long term, and then passion," says Duckworth. "So, not only working on something very hard, and being resilient in the face of setbacks, but working on something that's meaningful to you about which you can say, "I LOVE this. I'll never be bored by it."