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Cover of The Psychology of Money by Morgan Housel

The Psychology of Money

  • 272 pages · about 5 hours
  • First published 2020
  • 27 editions

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1 About this book

Timeless lessons on wealth, greed, and happiness 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.

How to manage money, invest it, and make business decisions are typically considered to involve a lot of mathematical calculations, where data and formulae 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 unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In the psychology of money, the author 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 matters.

  • Consumption (Economics)
  • Ethics
  • Self-help
  • Psychology
  • Business & economics
  • Money
  • Quality of life
  • Attitude change

2 What to expect

Short, story-led chapters on how people really behave with money: luck and risk, patience, and knowing when you have enough. Few numbers and no formulas, so it suits readers who never read about finance.

Good for readers who want: personal finance without jargon, behavioral psychology, and short chapters.

3 About Morgan Housel

 

Morgan Housel is an American author and financial writer known for exploring the psychology of money. A partner at Collaborative Fund, he was formerly a columnist for The Motley Fool and The Wall Street Journal. His bestseller The Psychology of Money shows how experience, emotion and behavior shape financial decisions. He is also the author of Same as Ever and The Art of Spending Money.

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