The Psychology of Money

Name: The Psychology of Money
Author: Morgan Housel
ISBN: 9780857197689

Timeless Lessons on Wealth, Greed, and Happiness

Written byMorgan Housel

Morgan Housel shows that doing well with money depends less on how smart you are and more on how you behave, through short stories about wealth, greed and happiness.

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Published2020
GenrePersonal finance
Key ideas6
Summary1 min read

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01Behaviour beats knowledge
How you act with money matters more than how much you know about finance.
02Everyone's experience differs
People make money choices based on what they've lived through, so 'crazy' choices often make sense to them.
03Know what is enough
Wanting more without limit leads to taking risks you don't need.
04Let time do the work
Small, steady gains growing over many years can add up to a lot.
05Wealth is what you don't see
Real wealth is money not spent, not the things people show off.
06Leave room for error
Plan for surprises, because things rarely go exactly as expected.
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