Finance
The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
March 8, 2025
by Morgan Housel (Author), Chris Hill (Narrator), Harriman House (Publisher)
Investing and Wealth
- Consistency over perfection: Good investing is not about making perfect decisions, but about consistently not screwing up.
- Control your time: Controlling your time is the highest dividend money pays.
- Wealth is freedom: The ability to wake up every morning and say “I can do whatever I want today” is the highest form of wealth.
Human Nature and Behavior
- Personal experiences shape perceptions: Your personal experiences with money make up a tiny percentage of what’s happened in the world, but they heavily influence how you think the world works.
- History doesn’t repeat itself, but humans do: People tend to make the same mistakes over and over.
- Luck and risk are intertwined: Every outcome in life is guided by forces beyond individual efforts.
Decision-Making and Planning
- Be prepared for unexpected events: Planning for your plan not going according to plan is crucial.
- Long-term planning is harder than it seems: People’s goals and desires change over time, making long-term planning challenging.
- Aim low: Setting realistic goals and aiming low can be a more effective way to achieve success.
Relationships and Values
- Humility and kindness matter: Humility, kindness, and empathy earn more respect than material possessions.
- Reputation, freedom, and relationships are invaluable: These aspects of life are more important than material wealth.
- True success is existing outside the rat race: Finding peace and contentment is a key aspect of success.
Mayuri Madavi
Her website, mayurimadavi.com, features content across various categories, including spirituality and metaphysics, business and finance, and personal development and psychology.
