The Psychology of Money - Morgan Housel

The Psychology of Money

By Morgan Housel

  • Release Date: 2020-09-08
  • Genre: Personal Finance
Score: 4.5
4.5
From 1,990 Ratings

Description

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

  • Quick and basic introduction to finance

    3
    By nicksk8es
    Formulaic and and great introductory read. Scratches the surface, but isn’t a great book for someone who has more than basic financial literacy.
  • Superb advice!

    5
    By Better then savings
    One of the best books I’ve read about money. I wish this book was available many years ago.
  • My big mistake

    5
    By Sambo reynolds
    Excellent. Common sense. Save, Dollar cost average in an index fund and patience. It really is that simple. My best friend did that and I traded. I’ve done ok. But he has whacked it, both of us are mid 60s. He started averaging in mid 80s. I started buying stocks mid 90s. I probably averaged 5% and him 10-12%. Truth! Me 1m him 5m.
  • Great read and less stress

    5
    By JayLaw28
    Investing can be stressful if we let it. Timing the market is stressful as well as picking stocks. This book helped me sit down and determine what is important to me and my family.
  • I like this book

    5
    By good in your life
    Trying to best successful is difficult learn day by day with book it teaches good lessons
  • Not bad At alll

    4
    By Norbit Cousin
    Great advice in here
  • A recommended book that everybody should read

    5
    By black_iced
    I found the book to be simple and enjoyable to read. What stood out to me was the author discuss how those with money do understand the psychology of money. Just because you earn $10 million dollars annual does not mean you’re wealthy. Yes you are rich by face value but behind the scenes where are you spending, saving, and investing that money is the true question. And also how much taxes are being taken out from that $10 million. I like that the author used real life people who were in precarious positions in their life financially and either had to pivoted to stay afloat or sink.
  • Resonating

    5
    By Gruntlyf4eva
    Finished at the perfect point in time of my life.
  • Great Book

    4
    By Beam3r
    I learned a lot of new information I tend to apply to my life!
  • Simple concepts every day people can adopt

    5
    By Cherto17
    This book provides simple concepts that every day people can pick up and use right away. It’s important for people to understand how your psychology of money plays a major role in our relationship with money. This is a must read!

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