The Psychology of Money PDF Free download is an asset to anyone who loves reading Personal Finance books. In The Psychology of Money Morgan Housel PDF, Morgan Housel shares 19 stories exploring the strange ways people think about money. It covers observations on our relationship with money and tells us how our thinking towards finances drives the critical decisions of our life. The Psychology of Money PDF is a book that you shouldn’t miss for anything. If would like to read a book filled with Timeless Lessons on Wealth, Greed, and Happiness then this is the right book for you!
Morgan Housel’s The Psychology of Money PDF book is one of the best books on personal finance. Neat and crisply written – this book offers a lot of wisdom and great content.
Table of Contents
The Psychology of Money PDF Free Download Details
- Book Title: The Psychology of Money PDF
- Author: Morgan Housel
- Published: September 8th 2020
- Goodreads Link: The Psychology of Money Morgan Housel PDF
- Formats: [PDF] [Epub]
- No. of pages: 252 pages
- Size: 4 MB
- Genre: Non-fiction, Economics, Personal Finance, Self Help, Business, Psychology
- Language: English
- File Status: Available
- Price: $0
The Psychology of Money by Morgan Housel Book Summary
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 behaviour 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.
The Psychology of Money by Morgan Housel Book Review
Review by Sumirti Singaravel [From Goodreads]
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 those books that lay the fundamentals required for investment and saving your money without pushing and punishing with a lot of jargon, 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 that 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 that is greatly guided by the relationship that one establishes with money itself. Do you see money as a tool/ enabler to pursue goals that bring you happiness or do you see the money itself as happiness? Do you want to earn money because you want to buy ‘things’ (tangible and as a show) or do you want to earn money because you want to secure a future that is stable, well-grounded, good enough to weather through all the rough corners of life? Do you want to be rich or wealthy?. It’s these fundamental questions that will guide in forming solid habits towards savings and investments.
The chapter explaining why money should be saved although there’s no visible goal gave me words for thoughts I never could articulate otherwise. Money has to be saved not because one aims to buy a house or achieve a dream but rather it helps to buy one of the most valuable of all things – TIME. Also, the chapter on how debt erodes wealth gives a clear picture of the actual (opportunity) cost of debt, which for an individual investor, is too huge and substantially toxic in the long term (NOTE: This book does not talk about the educational debt and has not much to offer on the same. All the debts mentioned are those incurred for purchasing an asset/developing an asset/maintaining a lifestyle).
Although the chapters on compounding are too known to me, as someone from the Finance field, to read the same in clear language is such a pleasure in itself. I loved the insistence on being ‘reasonable’ in one’s investments and expectations of returns rather than being completely ‘rational’. Nothing helps to act as a motivation to save ourselves from the spiral of consumerism than the simple sentence, “If you buy too many things from your money, all you have is too many things and no money.”
Although almost all the examples in this book are about a guy, and it really made me feel bad that there isn’t a name of a woman in the list of best investors around the world, it did help me to understand that the true value of money is not in its value of amassing assets but rather in its purchasing power to leverage oneself in life – in terms of freedom, independence, security, and ability to achieve a dream, which one doesn’t have to let go.
Definitely a book I will get back to reading every year – again and again!
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