S4.E3 - Psychology of Money - Ch. 7-11 by @Books Brothers Podcast

S4.E3 - Psychology of Money - Ch. 7-11

Welcome back to another episode of the Books Brothers Podcast! Listen as Thomas leads our discussion of chapters 7-11 from The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel.

Chapter 7: “Freedom” - (0:45 - 18:21) Have you experienced the feeling of “reactance” (feeling overly controlled because of lack of money)? What would you have done during that time if you had more money? What about instances of having freedom due to your financial situation?
Chapter 8: “Man in the Car Paradox” - (18:22 - 30:31) Have you ever bought something to convey a sense of status or prestige? What was it? How did that work out for you?
Chapter 9: “Wealth is What You Don’t See” - (30:32 - 40:20) What were your general thoughts on this chapter?
Chapter 10-11: “Save Money” and “Reasonable > Rational” - (40:21 - 50:46) Have you ever made what you thought was a rational plan but soon realized that it was very unrealistic to implement?

Resources referenced or discussed in today’s episode:

American household credit card debt: here
Link to podcast providing doctors, dentist and other health professionals with financial tips: here
Dave Ramsey’s nationwide study of millionaires: here

Next week we’ll discuss chapters 12 - 14 (pages 121 - 154).

You can buy the book on Amazon by clicking here.

You can also borrow it at your local library. Don’t have a library card, or unsure where your local library is? Search on Google Maps, or find your local library by clicking here.

Connect with us at connect@booksbrotherspodcast.com

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See you next week! Until then - read, reflect, and connect.

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3 months ago

Chapter 7: “Freedom” - (0:45 - 18:21) Have you experienced the feeling of “reactance” (feeling overly controlled because of lack of money)? What would you have done during that time if you had more money? What about instances of having freedom due to your financial situation?
Chapter 8: “Man in the Car Paradox” - (18:22 - 30:31) Have you ever bought something to convey a sense of status or prestige? What was it? How did that work out for you?
Chapter 9: “Wealth is What You Don’t See” - (30:32 - 40:20) What were your general thoughts on this chapter?
Chapter 10-11: “Save Money” and “Reasonable > Rational” - (40:21 - 50:46) Have you ever made what you thought was a rational plan but soon realized that it was very unrealistic to implement?