The Psychology of Money by Morgan Housel teaches readers that financial success is less about what you know and more about how you behave.
Through a series of 19 short, engaging stories, he illustrates that your personal history, unique worldview, ego, pride, and marketing heavily influence your financial decisions, often more than spreadsheets or formulas.
Housel’s main argument is that personal finance is not a hard science but a soft skill, where psychology plays a dominant role.
He explores the strange ways people think about money and provides timeless lessons on how to manage it more effectively by understanding our own biases and emotional triggers.
The book teaches you to embrace the power of compounding, understand the difference between rich and wealthy, recognize the role of luck and risk, and adopt a “reasonable” over “rational” approach.
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