Psychology Of Money PDF READ ONLINE & DOWNLOAD

OVERVIEW ABOUT PSYCHOLOGY OF MONEY PDF

HELLO READERS,
Here is a PDF of a great book from Morgan Housel.

Timeless lessons about wealth, greed, and luck don't necessarily have to do with what you know. It's about how you behave. And it's difficult to teach behavior even to really smart people. The way you manage, invest, and make business decisions is usually thought of as many mathematical calculations that tell you exactly what your data and formulas should do. But in the real world, people don't make financial decisions in spreadsheets.

You do them at the dinner table, or in a conference room where personal history, your unique view of the world, ego, pride, marketing, and weird incentives are mixed. In Money Psychology, the authors explore 19 strange ways people think about money and share 19 short stories that teach you how to better understand one of the most important things in life.

Details About the book

PSYCHOLOGY OF MONEY PDF SUMMARY

The most valuable part of this book is that it clearly links personal finances to psychology. Savings, Investment Strategy, Decision Making-These are all known to be important elements of personal finance, but the psychological aspects are rarely explored and that's all about this book.

Reading this book and another book on personal finance operations (for example, "Tell me how to get rich") puts you one step ahead of 99% of the population in managing money.

Many financial books focus on the technical aspects of money and investment. How to choose stocks and how to build a portfolio. In this book, Morgan Housel addresses the often overlooked fact that we are irrational and emotional beings, not machines that optimize ROI. Financial success depends on soft skills (how to manage psychology and emotional impulses) rather than technical skills related to financial analysis, market rules / laws. This free version of the Money Psychology Summary introduces you to the main highlights of the book.

People have different ideas about money

I think we know how the world works, but our view of the world is actually very limited. Each of our personal experiences reflects only a small part of the collective human experience that transcends generations.

Our view of the world is shaped by our life experience. People of different generations, backgrounds, and life experiences have different perceptions of money. People who grow up in poverty / hunger interpret "risk" and "reward" differently than those in wealthy families who didn't have to worry about money. Those who survived World War II and those who survived the recession have a different view of money than those who grew up in a stable economy. Others' financial decisions may seem crazy to you, but it makes perfect sense to them. You never understand a person's financial anxiety just by reading about it. You must experience it personally in order to fully understand it.

Luck and risk have a bigger impact than financial capacity

Success / failure is not just due to hard work or wise decisions. Your situation defines the options available to you. Every action you perform also has an unintended domino effect. Take Microsoft as an example. Bill Gates was smart, hardworking, and rarely computer-friendly. But he was fortunate enough to take his computer to one of the few high schools at the time (Housel estimates it with a one-millionth chance). Gates eventually co-founded Microsoft with his classmate Paul Allen. They had a close friend, Kent Evans, who shared their skills and passion for computers. However, Evans wasn't part of Microsoft because he died in another rare event, a mountain distress. Both Gates and Evans were smart and beloved computers, but they fell into two extreme ends: luck and risk.

Use the power of compounding

Warren Buffett may be a great investor, but his biggest secret is not his investment strategy or formula. It's time. Unlike most people, he started investing at the age of 10, so by the age of 30 (when most people started investing) he already had a net worth of $ 1 million. .. Still, of his $ 84.5 billion in net worth, $ 81.5 billion came after his 65th birthday. This is the power of compounding and time.

Scientists now estimate that there were five ice ages (not just one) in Earth's history. They theorize that small pieces of ice left over from the cool summers are sufficient to cause complex changes in global temperature and trigger the ice age

Compound interest works only if the asset can grow for years so that the oak tree matures slowly. You don't need high profits. You need a decent and consistent return.

CHAPTERS IN Psychology Of Money PDF

Here is a list of the chapters found in The Psychology Of Money PDF :

1. No One’s Crazy
2. Luck and Risk
3. Never Enough
4. Confounding Compounding
5. Getting Wealthy vs. Staying Wealthy
6. Tails, You Win
7. Freedom
8. Man in the Car Paradox
9. Wealth is What You Don’t See
10. Save Money
11. Reasonable > Rational
12. Surprise!
13. Room for Error
14. You’ll Change
15. Nothing’s Free
16. You and Me
17. The Seduction of Pessimism
18. When You’ll Believe Anything
19. All Together Now
20. Confessions
21. POSTSCRIPT:A Brief History of Why the U.S. Consumer Thinks the Way They Do
22. Endnotes
23. Acknowledgements

SHORT REVIEW ABOUT BOOK PDF

An easy-to-read book written in a light and conversational style. Morgan Hausel presents short stories and empirical studies to explain each of the above overlapping concepts. The book also includes an addendum on why US consumers think about their way.

ABOUT AUTHOR- MORGAN HOUSEL

Morgan Housel is a partner of The Collaborative Fund and a former columnist of The Motley Fool and The Wall Street Journal.

He has received two Best in Business Awards from the Society of American Business Editors and Writers, two New York Times Sidney Awards, and two finalists at the Gerald Loeb Award for Distinguished Business and Financial Journalism. He lives in Seattle with his wife and two children.

His book The Psychology of Money has sold over 1.9 million copies and has been translated into 46 languages.
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 serves on the board of directors at Markel. Morgan has presented at more than 100 conferences in a dozen countries.

THE PSYCHOLOGY OF MONEY QUOTES

“Some people are born into families that encourage education; others are against it. Some are born into flourishing economies encouraging of entrepreneurship; others are born into war and destitution. I want you to be successful, and I want you to earn it. But realize that not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself.”

“Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time.”

“Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what you want, when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance.”

PSYCHOLOGY OF MONEY AMAZON BUY

Timeless lessons on wealth, greed, and happiness doing well with money isn?t necessarily about what you know.

A life changing book by Morgan Housel.If you want to support the author, or if you find this book useful to you, you can buy this book in paperback, audio, or cassette from AMAZON. For reference, we have provided a purchase link for this book from AMAZON

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