The Psychology of Money with Morgan Housel, Part 1

In This Episode, We Talk About: Using money for independence! Financial education and how it affects your relationship. The correlation between money mindsets and your willingness to take monetary risks. Resources + Links: Connect with Morgan on Instagram | @morganhousel Check out his book “Psychology of Money”    Text PODCAST to 480-605-4814 to get VIP updates from Kara!   What's YOUR Financial Archetype? TAKE THE QUIZ   ………………………………….   Connect with Kara on Instagram | @kara_ayala   Check out how you can work with Kara | karaayala.com   Join Kara’s FREE Facebook group: https://kara-ayala.mykajabi.com/offers/aubrLymR/checkout   Show Notes: Are you working to make money, or is your money working for you and your independence? My husband Mike and I had the chance to chat with the author of The Psychology of Money, Morgan Housel. We get personal and discuss navigating the financial world as a couple and how it’s influenced by your financial education. What does it mean to be financially compatible? We also go into detail about how your identity as an entrepreneur influences the decisions you make and risks you’re willing to take. Many times these risks lead to greater success and the ability to obtain more freedom and independence in life. This independence assures we are free to be there for our families, give back to the community or any other why’s  we may have. In this episode we are reminded to truly enjoy the freedom we attain while chasing our dreams. If you are ready to be inspired and better align your mindset and financial journey then this episode is for you! 02:40 How money can be used as a tool for independence 04:50 The “worst case scenario” that motivated us to take the risk of jumping into entrepreneurship. 08:00 How our mindset around money has evolved as we’ve created successful businesses. 10:35 What are the two money mindsets? 12:55 What affects an entrepreneur’s desire to take risks?  16:15 How our identities have changed as serial entrepreneurs. 19:00 What investing and risk taking looks like for us today. 20:00 What is your biggest fear around money? 22:00 How we focus on enjoying our freedom while building our dream. 26:40 The importance of goals and being flexible with the plan as you grow. 29:20 What is Morgan and his wife’s money history? 31:10 How would you bring couples together if they aren’t on the same page about money?