The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
- Downloads：8713
- Type：Epub+TxT+PDF+Mobi
- Create Date：2021-03-23 10:15:23
- Update Date：2025-09-06
- Status：finish
- Author：Morgan Housel
- ISBN：0857197681
- Environment：PC/Android/iPhone/iPad/Kindle
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Summary
Doing well with money isn't necessarily about what you know。 It's about how you behave。 And behavior is hard to teach， even to really smart people。 Money--investing， personal finance， and business decisions--is typically taught as a math-based field， where data and formulas tell us exactly what to do。 But in the real world people don't make financial decisions on a spreadsheet。 They make them at the dinner table， or in a meeting room， where personal history， your own unique view of the world， ego， pride， marketing， and odd incentives are scrambled together。 In The Psychology of Money， award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life's most important topics。
Reviews
Ebubekir
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The book in a nutshell 1。 We all do crazy stuff with money， because we’re all relatively new to this game and what looks crazy to you might make sense to me。 But no one is crazy。 We all make decisions based on our own unique experiences that seem to make sense to us in a given moment。 2。 Realize that not all success is due to hard work， and not all poverty is due to laziness。 Keep this in mind when judging people， including yourself。 3。 It gets dangerous when the taste of having more （more money The book in a nutshell 1。 We all do crazy stuff with money， because we’re all relatively new to this game and what looks crazy to you might make sense to me。 But no one is crazy。 We all make decisions based on our own unique experiences that seem to make sense to us in a given moment。 2。 Realize that not all success is due to hard work， and not all poverty is due to laziness。 Keep this in mind when judging people， including yourself。 3。 It gets dangerous when the taste of having more （more money， more power， more prestige） increase ambition faster than satisfaction。 Life isn’t any fun without a sense is enough。 4。 Good investing isn’t necessarily about earning the highest returns。 It’s about earning pretty good returns that you can stick with and which can be repeated for the longest period of time。 5。 Planing his important， but the most important part of every plan is to plan on the plan not going to according to plan。 6。 It’s not whether you’re right or wrong that’s important， but how much money you make when you’re right and how much you lose when you’re wrong（ George Soros） 7。 The ability to what you want， when you want， with who you want， for as long as you want， is priceless。 8。 The way to be rich is to spend money you have， and to not spend money you don’t have。 It is really that simple。 9。 Savings can be created by spending less。 You can spend less of you desire less and you will desire less if you care less about what others think of you。10。 Having more control over your time and options is becoming one of the most valuable currencies in the world。 That’s why more people can， and more people should， save money。 11。。 At every stage of our lives we make decisions that will profoundly influence the lives of the people we’re going to become， and then when we become those people， we’re not always thrilled with the decisions we made。 So young people pay good money to get tattoos removed that teenagers paid good money to get。 On and on and on。。 12。 We might not even have different styles。 We’re just playing a different game。 It took me years to figure this out。 13。 Stephen Hawking Interview Journalist: Are you always this cheerful？ Hawking: “My expectations were reduced to zero when I was 21。 Everything since then has been a bonus！”Highly recommended！ 。。。more
Jessica Russell
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A great read！ So much about the way we think about money explained in a very “matter of fact” way that factors in the fact that we feel human and ARE human。 Would recommend this to everyone no matter your understandings of the world of finance。
Moniqa
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It was not what I expected， but I enjoyed it。 I assumed it would be a broader explanation of the psychology behind money behaviors， but it's more of a list of fallacies and thinking errors and how they play out。 It was not what I expected， but I enjoyed it。 I assumed it would be a broader explanation of the psychology behind money behaviors， but it's more of a list of fallacies and thinking errors and how they play out。 。。。more
Jyotsana Rastogi
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Honestly， felt it was a little overhyped。 Or maybe I failed to appreciate the goodness :D Felt like there were a lot of generic contexts （compounding， money having a contextual frame） which we've always known？ Instead， I found myself preferring the practical nature of Let's talk Money， if we're to talk of books in the personal finance domain。 Defintely gonna re-read this though， just because of the absolute hype around this book and the many wonders it apparently has for the keen listener！ Honestly， felt it was a little overhyped。 Or maybe I failed to appreciate the goodness :D Felt like there were a lot of generic contexts （compounding， money having a contextual frame） which we've always known？ Instead， I found myself preferring the practical nature of Let's talk Money， if we're to talk of books in the personal finance domain。 Defintely gonna re-read this though， just because of the absolute hype around this book and the many wonders it apparently has for the keen listener！ 。。。more
Anusha
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I am not a person who dog ears books and marks stuff。 I like them in their most pristine condition but this book changed everything， where should I even begin。Morgan Housel honestly stepped up to take the is giving all the necessary financial pep talk
Stevo Brock
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This book was Stevo's Business Book of the Week for the week of 3/21， as selected by Stevo's Book Reviews on the Internet and Stevo's Novel Ideas。 Housel shares 19 short stories exploring the ways people think about money and teaches you how to make better sense of the relationship between earning and spending。 He emphasizes that decisions based on who you are today greatly affect who you will be tomorrow。Find more Business Books of the week on my Goodreads Listopia page at https://www。goodreads This book was Stevo's Business Book of the Week for the week of 3/21， as selected by Stevo's Book Reviews on the Internet and Stevo's Novel Ideas。 Housel shares 19 short stories exploring the ways people think about money and teaches you how to make better sense of the relationship between earning and spending。 He emphasizes that decisions based on who you are today greatly affect who you will be tomorrow。Find more Business Books of the week on my Goodreads Listopia page at https://www。goodreads。com/list/show/9。。。， and find many more recommended books on my Amazon Influencer page at https://www。amazon。com/shop/stevo4747 or by searching for me on Google。 。。。more
Titus
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Overall I enjoyed the book。 It gives more of an overview of the mentality behind money and how people think about it than the nuts and bolts。 He mentions different things people have done but it's not extensive。 He uses a lot of stories of different people to get at different people using money for different reasons。 It flows easily and it's not a difficult read。 I found it really helpful。 I highlighted a lot of quotes that he put in。 Overall I enjoyed the book。 It gives more of an overview of the mentality behind money and how people think about it than the nuts and bolts。 He mentions different things people have done but it's not extensive。 He uses a lot of stories of different people to get at different people using money for different reasons。 It flows easily and it's not a difficult read。 I found it really helpful。 I highlighted a lot of quotes that he put in。 。。。more
Suneet Pansare
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Some incredible wisdom packed into this comfortable read on my favourite topic。 Must read for those who parade their shiny Gucci belt/bag thinking that it is synonymous with wealth。 Going to stop my review here in fear that this might lead to a rant on the sickening view of wealth prevalent in society today。
Rushabh Nagda
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Decent book yo。 Stay grounded stay humble and believe in compund interest。
Mike Lewis
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Found it really easy to read and a good framework about how to think about investing and savings。 Definitely recommend for anyone who is saving for retirement or for anything at all。
Erik Larsen
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This review has been hidden because it contains spoilers。 To view it， click here。 Recommended by Venky
Anup Singh
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Beautifully crafted and brought out。A must self help for personal finance enthusiast。
Prithviraj Sukale
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This book should be a mandatory reading when you graduate into life from highschool/college。 Money is such a fundamental part of our lives， it affects us in so many ways and yet our relationship with it is very bad。 This book talks about our relationship with money through many stories。 Every story is a lesson in itself。 It shows us how we can be more independent and free by following long-term financial discipline。 I am going to frame some things in this book as a reminder to myself incase I fo This book should be a mandatory reading when you graduate into life from highschool/college。 Money is such a fundamental part of our lives， it affects us in so many ways and yet our relationship with it is very bad。 This book talks about our relationship with money through many stories。 Every story is a lesson in itself。 It shows us how we can be more independent and free by following long-term financial discipline。 I am going to frame some things in this book as a reminder to myself incase I foregt anything。 。。。more
Дөл
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Took my sweet ass time with this one， didn’t I？ And yet idk how to rate it。。。Definitely a decent book with many useful advices that could be applied in finance AND in life。
Lindy Han
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Excellent reminder of life's truths that I believe most people will find - easy to comprehend as surface words， - difficult to internalize as personally applicable and - impossible to put to action not to mention lifetime practice。 Excellent reminder of life's truths that I believe most people will find - easy to comprehend as surface words， - difficult to internalize as personally applicable and - impossible to put to action not to mention lifetime practice。 。。。more
Andika
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This book is so good I had to write a review on it。 It's one of those rare self-help books that are actually good。 I like the way Morgan Housel writes。 Too many times I see that patronizing way of writing， that I-am-right-you-are-wrong attitude by authors。 But the book starts with humility from Chapter One， something that I rarely see especially on finance。If I had to pick one book to recommend for finance and managing your money， this is it。 This book is so good I had to write a review on it。 It's one of those rare self-help books that are actually good。 I like the way Morgan Housel writes。 Too many times I see that patronizing way of writing， that I-am-right-you-are-wrong attitude by authors。 But the book starts with humility from Chapter One， something that I rarely see especially on finance。If I had to pick one book to recommend for finance and managing your money， this is it。 。。。more
Pratikshit
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The part that the book doesn't talk about short term investment or trading， but a long term finance planning is rare to find in today's times。 It covers holistic approach towards managing earned money and importance of savings。 The books talks in great detail about emotions/human behaviour related to changing life outlook， aspirations and its impact on money mindset 。 One should try for sure read this in their 20's， must read book whenever you can。 The part that the book doesn't talk about short term investment or trading， but a long term finance planning is rare to find in today's times。 It covers holistic approach towards managing earned money and importance of savings。 The books talks in great detail about emotions/human behaviour related to changing life outlook， aspirations and its impact on money mindset 。 One should try for sure read this in their 20's， must read book whenever you can。 。。。more
Josh
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I thought this book was written suggesting good themed to be aware of rather than citing specific examples to provide the author's point。 I thought this book was written suggesting good themed to be aware of rather than citing specific examples to provide the author's point。 。。。more
Lori Craven
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It is interesting to think about how one's view of money as a child or young adult influences the lifelong perspective of money。 I've always been a saver--transitioning to spending money is a major challenge。 The book also allows readers to reflect on their view of happiness and money。 It is interesting to think about how one's view of money as a child or young adult influences the lifelong perspective of money。 I've always been a saver--transitioning to spending money is a major challenge。 The book also allows readers to reflect on their view of happiness and money。 。。。more
Vikas Pissay
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A book everyone should read。 The picture of financial independence has never been better painted。 Powerful and short。
Karthik Tammana
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A well written book that makes you think more practically about money and investing。 I liked the way the content is broken down into 20 easy and short chapters。
Andre Borges
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Such a short book， for the number of thinking frameworks backed by examples that I'm sure， will at least change a part of the way you approach， money， wealthiness， and richness。 So many gold nuggets， even those quoted from outside sources are perfectly placed and the chapters are a delight to read， starting from a strong concept， a case study （or several）， and the interpretations with key takeaways from each one。 Another one to add to the "to-re-read list" Such a short book， for the number of thinking frameworks backed by examples that I'm sure， will at least change a part of the way you approach， money， wealthiness， and richness。 So many gold nuggets， even those quoted from outside sources are perfectly placed and the chapters are a delight to read， starting from a strong concept， a case study （or several）， and the interpretations with key takeaways from each one。 Another one to add to the "to-re-read list" 。。。more
The Conch
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The essence of the book is:1。 Fall in love for saving。 Don't ask why or for what is the purpose。 Life is full of bouncers， so only saving can help you。2。 Don't believe all financial forecast3， Always cut your coat in less than the clothes。 Extra portion throw into few index funds。4。 Move toward - "that lets you do what you want， when you want， with who you want， where you want， for as long as you want" - This is financial freedom。One may read chapter 19 and 20 to know what the book is all about。 The essence of the book is:1。 Fall in love for saving。 Don't ask why or for what is the purpose。 Life is full of bouncers， so only saving can help you。2。 Don't believe all financial forecast3， Always cut your coat in less than the clothes。 Extra portion throw into few index funds。4。 Move toward - "that lets you do what you want， when you want， with who you want， where you want， for as long as you want" - This is financial freedom。One may read chapter 19 and 20 to know what the book is all about。 Author's narration of entire economical history from WW-II till date is just like cheery on top of the cake。 。。。more
Rendy Haniwibowo
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Easily my top list of the best personal finance books i've ever red。 This book contains practical wisdom of how to manage personal wealth and easy to digest。 Easily my top list of the best personal finance books i've ever red。 This book contains practical wisdom of how to manage personal wealth and easy to digest。 。。。more
Viraj
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great read of good everyday money habits
Markus Nylund
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This is the best book on money I have read。 It is not the usual woo woo self-help crap by someone selling you a dream。 Instead it is extremely practical and smart real world insight that will help you understand the world of money， wealth， economics， finance， etc。 Highly recommended for all humans！ It is well written and edited。 Fun and engaging to read。 The post-script is fascinating too about how we got to where we are。。。 Biggest lesson for me was how unpredictable future events truly are。 The This is the best book on money I have read。 It is not the usual woo woo self-help crap by someone selling you a dream。 Instead it is extremely practical and smart real world insight that will help you understand the world of money， wealth， economics， finance， etc。 Highly recommended for all humans！ It is well written and edited。 Fun and engaging to read。 The post-script is fascinating too about how we got to where we are。。。 Biggest lesson for me was how unpredictable future events truly are。 There is deep wisdom on offer here that can be applied to other areas of life too。 。。。more
Jędrzej
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If you want to learn - read just 19th chapter。 If you want to spend couple of hours on a great entertainment- read the whole thing。
Birol Ismail
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Although it mostly US centric， it's a quick， entertaining and curiously to the point read。 Also， solid and grounded financial lessons with some interesting example stories。 Although it mostly US centric， it's a quick， entertaining and curiously to the point read。 Also， solid and grounded financial lessons with some interesting example stories。 。。。more
Phu
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If you're fond of Factfulness （Hans Gosling）， you'll enjoy the ride :） If you're fond of Factfulness （Hans Gosling）， you'll enjoy the ride :） 。。。more
Santiago José Gil Mosquera
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