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Summary

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior 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.

©2020 Harriman House (P)2020 Harriman House

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What listeners say about The Psychology of Money

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A modern classic

I have read Morgan's blog for years, so none of the contents of this book is at all new to me, yet if I was to recommend just one personal finance book to most of my friends it would be this one. This is a far, far superior wealth-building manual than most of the other so-called classics currently popular with the FIRE movement, because it gets to the core of what wealth building is all about - behaviour, not numbers.

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I loved this book. Ronald Read was a highlight.

I’ve reviewed this book on YouTube and I have to say it’s a great listen. It doesn’t get dry and has great pace for a book on money. The stories Housel includes are fascinating especially the one about Ronald Read. Great advice and not swamped with opinion on how wonderful money is

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Excellent

I listened to this book, then immediately afterwards listened to it again. The first time encouraged me to save the second time encouraged me to stop spending. The narration for me was sublimely well matched.

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Excellent book

This book is a must read for everyone wanting to get better with money, very interesting and a real eyeopener

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Best book on saving and investing

This is not some get-rich-quick book. It is actually a surprisingly insightful guidbook on how to take control of own money and own life in today's world. I liked that the book concentrates on a few points, which are presented in a very clear but concise manner. I found the narrative entertaining and not at all monotonous. This is a must-read for everyone.

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Loved and Agreed

Having been reading many books and seeing myself change. I love the way you aim to live your life, because I now know that happiness is from within not from having too much of what you will just end up passing on to others eventually. Great help on saving money.

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Not an academic treatise

Easy to engage with and some elements that can be applied to you own behaviours. Yes it’s got a US reader bias but it’s simple enough to look past this. The narrator was engaging and as it’s not too long you can get through it without getting lost in longer and more weighty academic works. A good introduction to the topic.

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A Lovely Little Listen

This is a lovely little listen for anyone who likes to think about tomorrow. We all save for that rainy day and we all stress that we might not be making the right decisions with our savings and investments. This book helps you clear away some of the fog and come to the realization that you were right all along and keep going. Morgan Housel is excellent at distilling ideas and presenting them in easy to consume stories.

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Great content but

Really boring & monotonous voice. I'm not looking for drama but this guy can really help you sleep

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Brilliantly crafted statements.

Everyone should read this book. Captivating. Brilliant. Useful. Insightful lessons for all. Enjoyed the narration.

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  • jlanewell
  • 05-10-20

Thought provoking book about habits about money.

I got this book on audible and listened to the whole thing in one day. This book is a different approach to money. It really is extremely thought provoking. I particularly enjoyed Never enough chapter. This book is written in such away that you are getting stories to help understand the examples in the book. I really enjoyed the content in this book and recommend reading.

4 people found this helpful

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  • Dan
  • 05-10-20

The philosophy of money

This book really should be called the philosophy of money. Some good bits of info, more like fun facts than anything else, but overall I didn't feel like I got a lot of value from the book.

4 people found this helpful

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  • Brian Sachetta
  • 28-09-20

Really interesting and fun take on money

Let’s face it — money is a complex and, at times, bewildering subject. There’s so much contradictory information out there. It can be quite overwhelming to hear all of that info and try to make sense of it, based on our own situations. Rather than try to provide another set of so-called “can’t lose” strategies for managing money, here, Housel seeks to show readers that success with money is a soft skill filled with lots of nuances. Though that may sound daunting at first, I can assure you he doesn’t just leave readers out to dry. No, instead, he provides countless new ways of thinking about money that allow readers to see their financial situations in new lights. Sure, that may also sound a bit nebulous on the surface, but trust me — it will all make sense if/when you pick this one up. Some of those new ways of looking at money include ideas such as: different people’s life experiences lead to vastly different views about money; the hardest financial skill to acquire is to learn to stop moving the goalposts and eventually become content with what we have; and protecting the downside is probably the most important thing when it comes to managing money properly. Housel applies these somewhat abstract concepts through the use of countless stories and examples, which makes the digestion of them so much more straightforward. In the end, we’re left with a core set of principles for managing our money moving forward. And, spoiler alert, so much of that managing boils down to effective financial psychology — the very subject of the title of this book. I think most readers will enjoy it quite thoroughly, and, as such, I recommend it highly. -Brian Sachetta Author of “Get Out of Your Head”

4 people found this helpful

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  • Ryan
  • 07-10-20

Must listen!

Great book for all investors, especially new investors! Good pace and narrator was easy to follow

3 people found this helpful

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  • Tony Weber
  • 07-10-20

Very good read..

If someone wants to understand the psychology of money this book is a very good start... Everyone is different and everyone have different wants and needs.

2 people found this helpful

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  • Randall Bricker
  • 04-10-20

Must read for everyone!

Current, timeless and Insightful! I just happened to stumble across the author on Twitter and I’m very glad I did. I now follow and read many of his articles but this book is a must read for all. I have already shared it with all my family and friends including my son studying financial engineering at Cornell. This is the type of book you should earmark to read over again, anytime you need to make a large financial decision. Bravo!

2 people found this helpful

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  • Jake Cohen
  • 03-10-20

Morgan great book!

Thanks for this well thought out book on money. Interesting to hear a different perspective than the constant save more, spend less and think about the ideas behind it.

2 people found this helpful

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  • Barbara
  • 03-10-20

Absolutely loved it

Great perspectives on money, life, and how to get the most out of both without making unnecessary sacrifices. A book I have already read twice and will read again.

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  • Matt Lasher
  • 26-09-20

Outstanding! I’ll be reading again

I’ve read dozens of personal finance books and this is second only to @The simple path to wealth” by JL Collins. Highly recommended

2 people found this helpful

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  • Bianca Alison
  • 25-09-20

Nothing new for an Uber hyped book.

If you have read 21 lessons for the 21 century, Warren Buffet or even Dave Ramsey this book has nothing to offer. The title is magnificent. Except it is. It about the psychology of money at all. It is a book on economics, investing and social behavior but to call it the “psychology” of money is a huge presumption of the material you are abut to read.

1 person found this helpful