Plot:
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. Money–investing, personal finance, and business decisions–is typically taught as a math-based field, where data and formulas 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 own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel 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 topics.
Review:
There are so many excellent quotes within this
Some I really enjoyed:
Studying history makes you feel like you understand something. But until you’ve lived through it and personally felt it’s consequences, you may not understand it enough to change your behaviour
Bill Gates once said, “Success is a lousy teacher. It seduces smart people into thinking they can’t lose.”
It goes on to say how majority of jobs were of a physical nature. Whereas today that had flipped.
“Control over your time has diminished” over each generation. We can’t just clock off like we used to. I suppose each generation with time in itself has its pros and cons.
Overall there was a lot of great ideas for half of the novel. However, it was a lot to take in, a lot of random case studies of all these interesting people.
Yes my views is contradicting but that’s how I processed this novel.
This novel talks about the history of money from an American life point of view lifestyle.
I feel like it would have made excellent episodes in the podcast!
3/5 Stars
C’s La Vie 