134. Part 1: Vince Scully on the latte fallacy and other money myths

Vince Scully podcast

A lot of people are operating on defunct money myths that are misleading at best and destructive at worst. Myths that appear to make sense at first glance but have often passed their expiry date.

This is where today’s guest Vince Scully comes in to help you clear the money myths.

Listen to this episode now and subscribe via Apple Podcasts, SpotifyPlayerFM, search Google Podcasts. 

Vince is a veteran Financial Adviser, Author and Financial Wellness Advocate and the founder of Life Sherpa – an online platform that helps you make money and investing accessible and affordable. 

He helps you to master the art of living the life you want with the money you have.

Many myths sound credible but are dangerous to your wealth and happiness.

Some of these myths include:

  • “Money doesn’t buy happiness”
  • “Rent money is dead money”
  • “Two incomes are better than one”
  • “You need a lot of money to start investing”
  • And the biggest myth of all … “Cutting out your morning latte will make you rich.”

This has prompted Vince to author his great book ‘The Latte fallacy and Other Money Myths.’

It addresses the commonly held, but incorrect view, that giving up your morning coffee can make you rich. 

The premise of this approach is that a lot of little expenses over time add up to very large sums of money. So all you have to do is cut out your morning latte and hey presto you’re wealthy – right? Wrong!

This great book debunks all of these misleading myths and gives you the tools that will actually make a real difference in your life.

Over the many years Vince has worked in finance, he’s discovered that successfully navigating the world of money is not about having the best plan or choosing the best investment or even earning the most money. Neither is it about scrimping and saving.

He has realised that the less time we spend planning how to get the most from our money, the more time we spend worrying about it.

What makes the difference is truly understanding what you want and spending your money in a way that gets you closer to achieving it. 

If you’d like to win an ebook copy of Vince’s book, just email me at bushy@knowhowproperty.com.au with the word Get Invested in the subject header and then tell us the one luxury that you refuse to give up … and Vince will award a free book to the best entry.

Runners up will all receive a free ebook copy of my award winning book ‘Get Invested’.

And Vince has shared so much gold from his book and his unique Life Sherpa approach in our deep dive conversation that I’ve split it into two value packed episodes.

In today’s first part he answers your burning questions and gives you clarity on:

  • How to set smarter goals
  • The benefits of diversification
  • Why asset allocation is important
  • He paints out the 8 steps to financial freedom
  • And concludes with his 10 commandments of money

So if you want to know how to live the life you want with the money you have, sit back and enjoy this very informative chat with Vince Scully.

Listen to this episode now and subscribe via Apple Podcasts, SpotifyPlayerFM, search Google Podcasts or the player below. 

Get Invested is the podcast dedicated to time poor professionals who want to work less and live more. Join Bushy Martin, one of Australia’s top 10 property specialists, as he and his influential guests share know-how on the ways investing in property can unlock the life you always dreamed about and secure your financial future.

Remember to subscribe on your favourite podcast player, and if you’re enjoying the show please leave us a review.

Find out more about Get Invested here 

Want to connect with Bushy? Get in touch here

Podcast produced by Apiro

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