The Psychology of Money: Save Money

Sep 27

How does the act of saving money impact your financial well-being, and why is it often underestimated or overlooked? In this episode, we will discuss Chapter 10 of The Psychology of Money by Morgan Housel, titled "Save Money." We dissect the influence your savings have on wealth-building—an aspect even more crucial than your income or investment returns.

Listen in as we explain the significance of defining your genuine needs, focusing on the elements within your control, and the hidden rewards that come with astute saving practices. You will learn about the importance of being flexible in the ever-changing competitive and globalized market and how to gain more control over your time.

What You’ll Learn:

The importance of focusing on how much money you’re saving.
Why it is essential to define what you actually need.
What to focus on.
How to avoid letting your ego get in the way of your savings.
How to gain more control over your time.

Ideas Worth Sharing:

“Stop focusing on how much your money is growing and focus on how much you’re saving yourself.” - Brad Gotto
“Your ability to save is more in your control than you may think.” - Brad Gotto
“The ability to remain flexible in a very competitive and globalized market is very important.” - Brad Gotto