The Psychology of Money - Michelle Flanagan

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START WELL™

Dawn Thomas

14 episodes

1 week ago

Welcome to the START WELL™ podcast – I'm Dawn Thomas, your host. As a mother, financial adviser, and researcher, I'm here to guide you on empowering the next generation's financial journey. Whether you're a parent, grandparent, or the coolest aunt or uncle, join me in exploring how impactful conversations about money can shape a young person's future. During each episode, we will be unpacking a resource or money concept, so you can take the conversation home with you. Let's harness their superpower of time and your superpower of influence to ensure they Start Well and thrive for a lifetime.

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Parenting

Kids & Family

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The Psychology of Money - Michelle Flanagan

START WELL™

29 minutes 27 seconds

1 year ago

The Psychology of Money - Michelle Flanagan

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).