Random Thoughts on The Psychology of Money

We’re back with another Tuesday episode, where it’s just the two of us, deep-diving into a few topics that we have found interesting lately, talking about what’s going on in our business, and sharing stuff that we have tried out, love, and want to share with you! Today, we are chatting about a book that we both read and really enjoyed - The Psychology of Money by Morgan Housel. We definitely had some a-ha moments after going through the book, which entails discussions surrounding the plight of Americans’ inability to set money aside for emergencies, why looking into historical data is not always the best option for determining the future, and why we think it’s important to avoid the dreaded lifestyle creep in order to set yourself up for wealth. We also talk about Matt’s Amazon wish list (wait until you hear what he got for Christmas!), our takes on investing (this is definitely NOT financial advice), and our thoughts about cool cars, crypto, and being on top of buying the latest gadgets. If you enjoyed this show and want to learn more about how to make your dollar go further while getting into the correct money mindset, be sure to check out our shows with James Altucher and Wealth Without Wallstreet’s Russ Morgan and Joey Mure.  “Everyone has the ability to save, if you have the right psychology around how money works and the use of it as a vehicle to get what you want out of life.” - Joe Fier “Most people study history and look at it as an indicator of what to expect for the future, but we are literally in unchartered territory every day.” - Matt Wolfe Some Topics We Discussed Include: How most Americans can’t even come up with $400 for unexpected emergencies What’s the real reason you are driving that super cool sports car? Figuring out how to stop moving the goalpost  How to approach money as a tool to get you that happiness you really want The difference between being rich and having wealth Do you suffer from “lifestyle creep”? Our next sponsor is….Ferrari?? Why tying to predict trends based on historical evidence is not a good idea Taking the pressure off a lot of common, desired things when it comes to money Stressed about money? Good news - you are not crazy because we’re all in this together! How to save a ton of money shopping on Amazon Let us know what you think about our new show format!  Our Resources: PodHacker References and Links Mentioned: The Psychology of Money by Morgan Housel  Rich Dad, Poor Dad by Robert T. Kiyosaki We love answering your questions on our Tuesday episodes, so if you have one,  submit it here: HustleAndFlowchart.com/ask Are you ready to be EPIC with us?! Then grab our EGP Letter here! Did you know we have an awesome YouTube Channel?  Join the Facebook Community - be sure to hop in our Facebook group to chat with us, our other amazing guests that we’ve had on the show, and fellow entrepreneurs! This episode is sponsored by Easy Webinar and Ahrefs - be sure to check out these special deals for our listeners. The Formula For Financial Freedom - Russ Morgan & Joey Mure Reverse Engineering How Much Income You Actually Need - James Altucher