In this episode, Roy and Catherine ask what wisdom actually comes with age, a question Catherine admits made her burst out laughing before they even started. Roy’s answer comes straight from his own financial history: since the losses he’s talked about before, he hasn’t touched a credit card or borrowed money, because living on assumptions (that a sale will close, that money owed will arrive) doesn’t match reality. He finds that paying with physical cash, where you watch the money actually leave your wallet, keeps you honest in a way a card, even a debit card, doesn’t. He also flags a smaller but related lesson, paying close attention to recurring charges, since companies (he mentions Podbean specifically) have tried billing him incorrectly more than once, and catching it only happens if you’re actually checking. Catherine builds on the credit card point with something she learned during lockdown, watching videos on money and the economy, that everyone born in the UK is effectively born into debt because the economy itself runs on debt, on top of whatever personal mortgages or loans people carry. She thinks this explains the UK’s distorted relationship with money, including the belief that the government “owes” people money when in reality all government money originally came from taxpayers. Since going debt-free herself, she says it’s changed her psychology and her ability to just enjoy life, and made her more aware of how much energy that invisible, background debt drains from people who’ve simply never questioned it. She then gets to what actually made her laugh at the topic: her real wisdom gained with age is realizing that almost everything we think of as wisdom is nonsense, that we understand only a tiny fraction of how life, love, psychology or the universe actually work, and that accepting this is freeing rather than discouraging, since it makes life more surprising instead of something to keep chasing answers for. She tells a story about once asking a spiritual teacher for guidance on her life, only for him to tell her that hanging her duvet over the banister for a while would really help it fluff up, a deliberately unhelpful-sounding answer she later realized was exactly right, because what she was really asking for wasn’t something anyone else could give her. Roy closes with his own version of the same idea: the more he knows, the more he realizes he doesn’t know.
Timestamps
0:02 — Introduction and today’s topic: what wisdom comes with age
0:30 — Roy: the financial lesson behind never using a credit card
2:09 — Catherine: being born into debt, and the wisdom that most wisdom is nonsense
6:09 — Closing thoughts and sign-off
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