14 Money Rules I Follow to Build and Keep Wealth

In this episode of BOOK CLUB, we're talking about 14 money rules I follow to build and keep wealth which I learned from reading Morgan Housel's book 'The Psychology of Money'. These lessons have helped to change my outlook and attitudes to money and are super useful to learn early on in your journey to financial independence!

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Timestamps:
00:00 Intro
00:26 Lesson 1 - Everyone has different attitudes towards money
01:18 Lesson 2 - Don’t underestimate the importance of luck
01:51 Lesson 3 - Learn to say “this is enough”
04:11 Lesson 4 - Appreciate the magic of compounding
05:30 Lesson 5 - Save as much as you can
06:59 Lesson 6 - Focus on not screwing up
08:13 Lesson 7 - Use money to buy freedom
09:10 Lesson 8 - Getting wealthy is different to staying wealthy
10:18 Lesson 9 - Don’t be a flashy twat
11:17 Lesson 10 - Leave room for error
12:35 Lesson 11 - Avoid extreme financial commitments for your future self
13:45 Lesson 12 - Be reasonable rather than rational

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I’m Ali, a YouTuber, podcaster, soon-to-be author and ex-Doctor working in London, UK. I make videos that explore the strategies and tools that help us live happier, healthier and more productive lives. I also have a weekly podcast called Deep Dive (https://www.youtube.com/channel/UChfo46ZNOV-vtehDc25A1Ug), and I write a weekly email newsletter that contains some quick thoughts + links to interesting things (https://aliabdaal.com/newsletter/).

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