💸 The Psychology of Money — 20 Key Lessons from Morgan Housel! 📚

The Psychology of Money is a must-read that dives into the psychology behind how people think about money. It’s not about numbers or formulas — it’s about behavior. Here’s a breakdown of each chapter with insights, wisecracks, and practical lessons! 💡

1. No One’s Crazy 🤯

“Everyone’s approach to money is shaped by their unique life experiences.”

We often think others are irrational about money, but we all have different backgrounds that shape our financial decisions. 🌍 What seems crazy to one person might make perfect sense to another.

“People do crazy things with money, but no one is crazy.”

2. Luck & Risk 🎲

“Success is a mix of skill, luck, and timing.”

Luck and risk play huge roles in success stories. We often praise successful people for their hard work without acknowledging the role of luck. 🍀 Housel advises to appreciate both the power of luck and the dangers of risk in any financial journey.

“Be careful who you praise and admire. Be careful who you look down upon and wish to avoid becoming.”

3. Never Enough 😵