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Writer's pictureSydney Denise

The Psychology Of Money by Morgan Housel

Updated: Mar 27





I'm selective about the self-help books I read, each chosen for specific reasons, but the overwhelming positive feedback and Morgan Housel's esteemed reputation in the field piqued my interest enough to delve into it.

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"Psychology Of Money" dives into the intricate relationship between individuals and money, presented through 20 easy-to-digest chapters, straightforward language, and engaging storytelling. It addresses the often taboo subject of money, exploring the universal impact of our financial behaviors and attitudes.


Here are the key insights I gathered from the book:

  • Money should be viewed beyond mere numbers and investments; it's more akin to sociology than physics, deeply embedded within social contexts.

  • The greatest value of money lies in the freedom and independence it can provide, emphasizing the importance of using financial resources to control one’s time and, consequently, happiness.

  • Accumulating wealth is simpler than maintaining it, with social comparisons often influencing our savings rate, as eloquently put by Housel.

  • Success and failure are not solely the results of personal efforts; luck and risk are always part of the equation.

  • When seeking investment advice, it's crucial to recognize that not everyone’s financial goals and strategies align with your own.

  • The book’s final chapter, where Housel shares how he manages his finances, adds a personal touch that resonates deeply with readers.


In conclusion, while the book's narratives and insights are compelling, I recommend LISTENING to this book because of the straightforward language and compelling storytelling. I makes for an engaging narration. However, if you're drawn to the art of storytelling and wish to immerse yourself fully, consider acquiring "Psychology Of Money" in your preferred format, be it digital, paperback, or hardcover.




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