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In the realm of money psychology, different mindsets can affect the way we spend, save, and invest. Two of the most relevant mindsets for FIRE are scarcity and abundance. To strip them down to their scaffolding: a scarcity mindset can help you save, but make you worry. An abundance mindset leads you to look at the biggest expenses, and not worry so much about the rest.

In this episode, Dave (Strong Money Australia) and Hayden (co-founder of Pearler) compare how these two different mindsets can affect different aspects of their FIRE journey. This ranges from investing risk tolerance, to savings behaviour, to attitudes towards early retirement.

By the episode’s end, you’ll be able to identify your money mindset – and leverage it in your quest for FIRE!

Pearler

Strong Money Australia

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Disclaimer

Any advice is general and does not consider your financial situation needs, or objectives, so consider whether it’s appropriate for you. You should also consider seeking professional advice before making any financial decision.

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