START WELL™ Podcast, Episode 10 - "The Psychology of
Money"
In this episode of the START WELL™ Podcast, our resident
reviewer, Michelle Flanagan, shares her insights on the beloved book "The Psychology of Money" by Morgan Housel.
Key Points Covered:
Unconventional Approach: Housel's book stands out from
traditional finance literature by employing storytelling to convey its messages.
Wealth vs. Riches: Michelle appreciates the book's
exploration of the distinction between being wealthy and being rich, emphasizing the importance of personal fulfillment and contentment over mere material wealth.
Confidence and Comparison: The book encourages readers to cultivate confidence in their own financial journey without succumbing to the trap of comparing oneself to others.
Time as a Commodity: The idea of time as a valuable
currency. Planning finances effectively can grant individuals greater control over their time, a perspective Michelle finds particularly important.
Audiobook Experience: Given the book's dense text, listening to it as an audiobook could offer a more immersive and engaging experience.
Representation Observation: We note a predominance of male characters in the book, suggesting potential implications for inclusivity and diverse perspectives.
Parent-Child Resource: Michelle evaluates the book as a
valuable resource for fostering financial conversations between parents and children, awarding it a commendable 4 out of 5 rating.
Thank you for listening to the START WELL™ Podcast. Be sure to subscribe for more enriching discussions on personal and finance and growth.
General Advice
Warning – This Podcast contains general advice. The
information, including tax information and any advice
provided in this Podcast, does not take into account your objectives, financial situation or needs. Because of that, you should before acting on the advice, consider the appropriateness of the advice, having regard to those
things. If the advice relates to a particular financial product, you should obtain the relevant Product Disclosure Statement for any product mentioned and
consider its contents before making any decision. You should consider talking to a financial adviser before making a financial decision. Dawn Thomas is a Senior Financial Adviser and is an authorised representative of TWD Licensee Services Pty Ltd ABN 88 605 064 480 Australian Financial Services Licence No.475964 (TWD Licensee Services).
