The Psychology of Money
Morgan Housel
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. more
252 pages, Paperback
First published Harriman House
4.34
Rating
166541
Ratings
12081
Reviews
Morgan Housel
23 books 1784 followers
Morgan Housel is a partner at The Collaborative Fund. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism. He lives in Seattle with his wife and two kids.Community reviews
Pithy book. Here's some for you: 1. People act from their experiences. Don't judge from yours. 2. more
This was a short but enjoyable read. The main point is that we are complicated creatures who have complicated relationships with money. It’s ok and expected to not base every decision off of cold Excel calculations. Instead of pretending we will, here is some of the advice he recommends:Don’t try and time the market. Dollar cost average. more
The blog post that turned into a bookhttp://www. collaborativefund. com/blog. Teh Hooi Ling’s reviewhttps://www. businesstimes. more
I, hereby, list down 43 fabulous financial lessons from this awesome book. 1/ Ordinary folks with no financial education can be wealthy if they have a handful of behavioral skills that have nothing to do with formal measures of intelligence. 2/ Financial success, to an extent, is driven by luck irrespective of intelligence and effort3/ Financial success is not hard science, unlike engineering or doctorate or any other profession. It is a soft skill, where how you behave is far more important than what you know. Knowledge is good but knowing what to do has nothing to do with what goes in your mind before you try to do it. more
I have been seeing this book on my Goodreads feeds almost every day since it was published. Nearly all of my friends have rated it 4 or 5 stars. My expectations were high when I decided to read this book. I have all three formats of this book with me. I decided to go for the audiobook version. more
2020 is one of those years where I took my personal finance management seriously not only because I turned 30 but I also became very aware of all the financial options available for investment and the great necessity for a woman, especially a married one, to be financially literate and independent. The Psychology of Money is one of the those books that lays the fundamentals required for investment and saving your money without pushing and punishing with a lot of jargons, technical terms, and read-the-offer-documents-carefully-before-investing kind of mundane warnings (mind you, I am academically qualified and work in Finance and a Legal field). The book speaks in a very clear manner, chapters being crisp and brief, in a language which is assertive with a lot of understanding of the psychology of an individual average investor/human who wants to secure the future. This book helped me to understand, something I never really did till now, that saving/investing money is a habit which is greatly guided by the relationship which one establishes with money itself. Do you see money as a tool/ enabler to pursue goals which brings you happiness or do you see money itself as happiness. more
I honestly don’t get the hype for this book - most of the ideas are not particularly insightful nor original. The most interesting ones came from Nassim Taleb (i. e. , tail risks, role of luck & risk), Charlie Munger (i. e. more
I love the title of this book "The Psychology of Money". A great book to learn the psychology of money that we do not learn in school. How do we feel about money. What is money to us. How do we treat money every day. more
4. 75 ⭐GENRE - NON FICTION / SELF HELP. I haven't been a regular reader so far but I always had a craving and attraction to books,this book was suggested to me by my good old friend Mr. Aditya Salvi owing to my recklessness with finances 😂 However this book did help me reinvent my intrest for reading not to forget to mention this was the 11th book I have read so far and started reading this book in May 2021. This book also brought within me a craving for Non Fiction Philosophy Literature. more
"The hardest financial skill is getting the goalpost to stop moving. It's a Timeless Lesson on Wealth, Greed, and Happiness, one of the best books on personal finance, by award-winning author Morgan Housel. This book is neatly written and contains a lot of wisdom and high-quality content. Morgan Housel provides 19 stories in this book that explore the unusual ways people think about money. It includes observations on our relationship with money as well as information on how our financial thinking influences our life's most important decisions. more
An excellent book that covers how to think about one's money and wealth. Titles of the 20 pointers the author enlists in this book - (1) No one's crazy : Your personal experiences with money make up maybe 0. 00000001% of what's happened in the world, but maybe 80% of how you think the world works. (2) Luck and Risk : Nothing is as good or as bad as it seems. (3) Never enough : When rich people do crazy things. more
This is very good mostly because it's very simple. Twenty common-sense ideas that are so absurdly obvious if you think about but are hardly ever engaged with, seriously, basically account for all successes and failures when it comes to money. The more obvious points:Professional traders are about as good at it as random non-professional investors. Compound interest is an ungodly cheat mode. Getting your head on right is much more important than anything else you could do. more
The title and the blurb both are misleading. The book is divided into 20 chapters and focuses only on what people did with their money in different eras, like during World War II, the Great Depression, the fall of the Soviet Union, etc. The sections are filled with reports, figures that bored me to death. Also, if you're a beginner-level reader, do not pick this one. But if you're deep into this genre and an American, then maybe you can. more
این یکی از متفاوتترین کتابهایی بود که امسال خوندم. هیچوقت در مورد پول و مدیریت مالی مطالعه نکرده بودم و یه نظرم کتاب عالیای برای شروع بود. موضوعات این کتاب به سه دسته تقسیم میشهیک. دقیقاً همون چیزی که اسم کتاب میگه: روانشناسی پول. اینکه مردم در مورد کسب و خرج پول چطور فکر میکنند و چی باعث میشه تصمیمات درست و غلطی بگیرند. more
Such a short book with so much wisdom and generally good advice. Highly recommended. On a side note, this book also made me realise that Hans Rosling’s Factfulness has such great advice on investing. We often get bogged down on what’s happening in the short run and do not appreciate the progress we’ve made in the long run. Progress happens too slowly to notice, but setbacks happen too quickly to ignore. more
I believe that any book that makes you ponder over and over and simultaneously stimulates your diligent concentration before you reach any conclusion - has served the purpose of the time invested in reading. The psychology of money did this and I found the perspectives that Morgan Housel has put forward quite intriguing. The power and the importance of compounding is explained with a simple yet interesting way. All in all, a good read for developing new perspectives about finances while keeping both your need and wants in your mind . 4/5. more
This Review ✍️ Blog 📖 Twitter 🐦 Instagram 📷 Support me ☕ “Things that have never happened before happen all the time. ” Contrary to most people reading this book, I read it because I have a saving problem. It is weird but I think a lot of past experience makes me always scared of what the future hides so I feed bad when I spend money which is a bit illogical. There are a lot of positive reviews for this book and it has a staggering average rating of 4. 4 which encouraged me to pick it up. more
ما الذي يجعل الناس سعداء. ؟. يقول «Morgan Housel» في كتابه الجميل The Psychology Of Money :أعلى شكل للثروة هو القدرة على الاستيقاظ كل صباح والقول ، "يمكنني أن أفعل ما أريد اليوم"يريد الناس أن يصبحوا أكثر ثراءً لكي يصبحوا أكثر سعادة. السعادة موضوع معقد لأن كل شخص مختلف. ولكن إذا كان هناك قاسم مشترك في السعادة فهو أن الناس يريدون التحكم في حياتهم. more
Sebagai orang yang menempuh pendidikan ekonomi dan telah menjalankan beberapa prinsip yang disajikan dalam buku ini, buku ini sangat-sangat afirmatif bagi saya. Rasanya, saya menemukan alasan mengapa saya melakukan A dan bukan B, mengapa saya tidak setuju dengan B dan A, dan mengapa nasihat-nasihat yang menurut saya "sudah seharusnya dilakukan oleh semua orang" ternyata kenyataannya tidak seperti itu. Orang lain belum tentu memiliki privilege dan mindset yang sama seperti saya. Dan buku ini hadir untuk itu. Beberapa kali saya membaca mengenai perencanaan keuangan pribadi, baik melalui konten yang dibuat oleh para kreator Instagram atau buku ekonomi, pendekatan dalam buku ini jauh lebih humanis dan tidak taktikal, cocok untuk orang yang bahkan sangat awam sekalipun mengenai prinsip-prinsip ekonomi. more
DISCLAIMER: If you are looking for a book that would give you "tips" on investing or trading, don't pick this one up. First thoughts - A super easy and fun read, but it was a little different than what I had expected. Just going by the title of the book, I had anticipated that the author would probably take a deep dive into the behavioral economics and decision analysis of all aspects of money in our life but it turned out to be a rudimentary take (albeit an insightful one) on these topics. This book can be read by people of all ages and it would probably make sense to them, you don't need to have much background in investing, trading or finance in general. Each chapter of the book is essentially a broad "psycho-financial" concept (if at all "psycho-financial" is a word, if not I just coined it and you likely understand what it means) which the author tries to elucidate by a mixture of real-world examples both of finance and non-finance flavors, quotes from renowned people and excerpts from other famous books. more
Đọc lại lần 02 để làm booktalk, phân tích sách với bà con. Lần 02 này mình đã không còn nhiều ấn tượng mạnh như lần đầu. Lần trước nghe sách nói thấy mượt mà, lần này đọc kĩ thì thấy chất lượng dịch cũng vừa phải, hơi khó đọc một tẹo. Đọc sách nên thấy nhiều vấn đề lập luận. Nhiều nhận bị lặp. more
When your favorite financial writer comes out with a book, its okay to drop everything to read it. I've been a fan of Morgan Housel's writing for many years. The idea for the book 'The Psychology of Money' came from his long article by the same name. He likes to keep his writing concise but it packs a punch. The best part of his writing is that he takes the lessons from history, finance, psychology, etc. more
Did I miss something. Might have to reread this shortie or read some kind of analysis — this was nothing new and not very groundbreaking. Not that it needed to be, but I was expecting more based on the raving reviews I've seen online. Not bad, not great, just generally good things to know if you don't already or feel like you need a reminder. . more
Vērtīga lasāmviela, lai apdomātu, cik racionāli vai emocionāli tērējam/ieguldām naudu. Par to, cik svarīgi veidot iekrājumus/drošības spilvenu. Daudz arī par akciju tirgiem, kas man nebija aktuāli, tomēr pasniegts gana vienkārši, tāpēc neizlaidu arī to. Šīs grāmatas bonuss patiešām ir vienkāršā valoda, daudz piemēru no vēstures, fin. krīzēm un pārdomas par riskiem/zaudējumiem. more
Morgan Housel does well with this book. But only for readers who consider themselves novices with money. Anyone outside that category could possibly find themselves uninspired to get to the end. At the beginning of the 19th chapter, the author congratulates the reader for making it that far. *eyeroll* Credit where due, the book is well written. more
Easy, fast to read and some advice (jump to chapter 19 to save yourself)Yet, this book is hyped for nothing. I wonder if ratings have been bought just to kick sales. Too many unnecessary historical short stories, comparisons including companies, dates, numbers, rates, etc all to come to simple conclusions. Conclusions which could have been substantiated by plain logic that, most of the time, have nothing to do with money, but everything with behaviour and how we are wired. Guess the chapters had to be filled to make a book right. more
I came for Money lesson, yet I got a life lessonYou know what irony is. At the first, I'm going to say as my opening for this review, "This book is what I called short, but memorable. " Believe me, I'm that girl who's ready to give it 5 stars. BUT just after chapter 6, I think, "I SNAPPED. " like, "snap-snap. more
I've read Housel's content for years and years. I can't recommend this book and its absurd density of insight enough. Don't let the title fool you: this book is just as much about designing a good life. For example, that a nice new car impresses yourself more than anyone else. On one of the first pages Morgan writes that "financial success is a soft skill, not a hard skill. more
Being able to wake up one morning and change what you’re doing, on your own terms, whenever you’re ready, seems like the grandmother of all financial goals. more
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. more