Money is a hot topic no matter your age, but in your 30s, it can often be a turning point as you budget for kids, mortgages, and perhaps for the first time, retirement. Understanding money is essential to living a good life, but it's not just about knowing how to invest or budget. In The Psychology of Money, Morgan Housel unpacks the emotional, often irrational side of how we make decisions around money.

This week, David shares his key takeaways from having recently read The Psychology of Money. We discuss:

• How people do crazy things with money, but no one is actually crazy
• Historically, investing consistently regardless of market conditions has yielded the best long-term returns
• What exactly is the greatest value that money can add to your life?
• Why it's relatively easy to be rich, but it's not the same as being wealthy.
• Why is it so hard for people to spend less
• How people often make financial decisions based on what makes them feel good

Do you have a story about what helps you thrive in your 30s, or challenges you’ve endured or overcome? Let us know at ⁠⁠that30sshowpod@gmail.com⁠⁠ or ⁠⁠⁠DM our Instagram⁠⁠⁠. Perhaps we can have you on the show! Any questions and feedback are also welcome.

Links:

• The Psychology of Money by Morgan Housel
• ⁠Listen to That 30s Show on YouTube⁠. We're on video for Season 2!
• ⁠That 30s Show on TikTok⁠
• ⁠That 30s Show on Instagram
• ⁠⁠Ge’s Instagram⁠
• ⁠⁠David’s Twitter⁠⁠

Theme music: “⁠⁠Grab A Bargain⁠⁠” by ⁠⁠Scott Holmes Music⁠⁠. Available for use under the ⁠⁠CC BY 4.0 license⁠⁠, at ⁠⁠Free Music Archive⁠⁠.