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The Psychology of Money Paperback – 1 September 2020
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Purchase options and add-ons
- ISBN-109390166268
- ISBN-13978-9390166268
- PublisherJaico Publishing House
- Publication date1 September 2020
- LanguageEnglish
- Dimensions14.2 x 0.9 x 21.7 cm
- Print length252 pages
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Product description
About the Author
Morgan Housel is a partner at The Collaborative Fund. 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.
Product details
- Publisher : Jaico Publishing House (1 September 2020); Jaico Publishing House, JA-1, Jash Chambers, Off Sir Phirozshah Mehtra Road, Fort, Mumbai, Maharashtra 400023 Phone: 022 4030 6767
- Language : English
- Paperback : 252 pages
- ISBN-10 : 9390166268
- ISBN-13 : 978-9390166268
- Reading age : Customer suggested age: 17 years and up
- Item Weight : 224 g
- Dimensions : 14.2 x 0.9 x 21.7 cm
- Country of Origin : India
- Net Quantity : 1.00 count
- Importer : Jaico Publishing House, JA-1, Jash Chambers, Off Sir Phirozshah Mehtra Road, Fort, Mumbai, Maharashtra 400023 Phone: 022 4030 6767
- Packer : Jaico Publishing House, JA-1, Jash Chambers, Off Sir Phirozshah Mehtra Road, Fort, Mumbai, Maharashtra 400023 Phone: 022 4030 6767
- Generic Name : Paperback Book
- Best Sellers Rank: #4 in Books (See Top 100 in Books)
- #2 in Analysis & Strategy
- #5 in Personal Transformation
- Customer Reviews:
About the author
Morgan Housel is a partner at The Collaborative Fund. 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 lives in Seattle with his wife and two kids.
Customer reviews
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Top reviews from India
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The Psychology of Money by Morgan Housel is a book about money that, unlike most other finance self-help books, is not about teaching you how to get rich quick. It teaches you about money as a concept as well as giving you a sense of direction about how to think about money. It does so through 20 crisp and short lessons which are engaging in the different areas it covers and makes one think through its simple and sometimes counter-intuitive lessons!
I would’ve appreciated a bit more detail on the stories mentioned in the book, like how luck in Bill Gates’ childhood played a major role in who he became. But I understand that it was a conscious choice made (Housel even mentions it in the introduction) to make all the lessons short and to the point.
My favourite part is the chapter where he talks about how “Wealth” is what you don’t see. This chapter details out the difference between being “wealthy” and being / looking “rich” and it genuinely made me re-evaluate what I really wanted from life!
I think the best quote to both sum up the book as well as the reason why you should pick it up is :
“Financial success is not a hard science. It’s a soft skill, where how you behave is more important than what you know.”
make the users understand the financial market real time. The book keeps the readers engaged.
A few gems in Morgan's own words:
• How you behave is more important than what you know about money.
• Manage your money in a way that helps you sleep at night.
• Time is the most powerful force in investing.
• A small minority of things account for the majority of outcomes.
• Define the game you’re playing, and make sure your actions are not being influenced by people playing a different game.
• There is no single right answer; just the answer that works for you.
• No one is impressed with your possessions as much as you are.
• Savings that aren’t earmarked for anything in particular is a hedge against life’s inevitable ability to surprise the hell out of you at the worst possible moment.
• Endurance is what makes compounding magic over time.
• The highest form of wealth is the ability to wake up every morning and say, “I can do whatever I want today.”
Top reviews from other countries
What stood out most to me was the engaging writing style, which made complex concepts easy to understand. Housel uses real-world examples to illustrate his points, making the book relatable and relevant. Additionally, the author's focus on the behavioral aspect of personal finance, rather than just the technical aspect, is insightful and refreshing.
However, if you are like me you may have expected some sort of actionable advice on managing money, this was not the case. While it provides a valuable understanding of the psychology behind money, it does not offer specific tips or strategies for managing one's finances.
I read this book on the Amazon Kindle Paperwhite, and it was a very enjoyable and seamless read on the device, showing that it was well adapted to the e-reader.
Overall, "The Psychology of Money" would be best suited for readers who are interested in understanding the intersection between money and psychology. It would be particularly useful for those who may struggle with managing their finances or those who are seeking a new perspective on personal finance. The book is a great read for those who want to gain a deeper understanding of the emotional and psychological drivers behind our financial decisions. This is a staple in a collection for building a better financial mindset.
Vemos diariamente pessoas nos dizendo como ficar milionários fazendo investimentos. Morgan Housel dá uma dica muito importante: descubra qual jogo cada um está jogando e tente identificar se o jogo da pessoa que está te dando conselhos é diferente do seu.
Você vive fazendo o jogo de surfar no "momento" dos investimentos que hoje estão em alta e fazer uma "grana rápida" ? Você investe pensando em qual horizonte de tempo: meses, anos, década, ou no dia de hoje?
Como você lida com riscos?
As ações são voláteis, você é do tipo que tenta driblar esta volatilidade, comprar na alta e vender na baixa? Você tem dificuldade em lidar com as perdas, e assim que seu portfólio sofre uma queda, começa a tomar medidas emergenciais? Você investe de maneira que se tudo der errado acabou, ou vai ainda ter um plano e conseguir seguir em frente?
Talvez este livro seja para você. Housel prega uma mudança completa de mentalidade. O que ele busca trazer é uma forma de te dar autonomia, controle sobre o que fazer, quando fazer, como fazer, mantendo uma segurança apesar da inerente volatilidade dos investimentos.
Seguem duas outras lições que, num primeiro momento, foram mais marcantes para mim:
Riqueza vs. ser rico (rich people vs. wealthy people)
Você precisa aprender o que é o suficiente para você e a restringir seus gastos a partir deste ponto. Os estudos mostram, que quando atinge certo padrão de vida, gastar mais dinheiro te traz muito pouca felicidade a mais. É um mindset, mas é exatamente o oposto do que todo o marketing que somos bombardeados o tempo todo diz para a gente. É o oposto do que o Instagram fica tentando esfregar na nossa cara ao estimular constantes comparações. Para salvar um percentual significativo da sua renda com consistência e guardar ao longo dos anos e décadas, é essencial que você pare de aumentar seus gastos simplesmente porque aumentou sua renda e "pode" gastar mais.
Você possui seus vícios e manias, não é um robô que consegue disciplinadamente executar tudo que é bom para você sem qualquer falha ou recaída. Por isso, Housel fala sobre deixar espaço para coçar as coceiras. Assim como um nutricionista precisa incorporar um respiro em suas dietas (aquele domingo ou viagem quando você pode comer à vontade), você precisa entender aquela mania sua. É trocar de carro mais do que deveria? Trocar a mobília da casa? Trocar o celular todo ano? Tenha um espaço para isso e mantenha a mentalidade do "suficiente" para todo o resto.
Não faça a besteira de ler alguns reviews e achar que entendeu o que este livro ensina. Para mim o Housel está no mesmo nível dos ganhadores do Nobel D. Kahneman e R. Thaler. A diferença sendo que ao invés de realizar experimentos para ampliar o conhecimento, Housel é especialista em investigar o conhecimento disponível, juntar os pontos e tornar a informação acessível e acionável. O livro é carinho (chegamos a 70 reais em um ebook!), mas o investimento se paga muitas vezes. Caso queira algo gratuito você pode também ler o blog do Housel (o blog chama collaborativefund, procure no Google, porque a Amaozn não permite links aqui). Eu sou um grande fã e este é, sem dúvida, seu melhor trabalho até hoje. Uma verdadeira obra de arte.