| THE PSYCHOLOGY OF MONEY, BY MORGAN HOUSEL, IS A REFRESHING TAKE ON MANAGING MONEY AND MAINTAINING MONEY. UNLIKE OTHER BOOKS WHICH EXPLAINS ABOUT MONEY, THIS BOOK TALKS LESS ABOUT MONEY AND STRATEGIES AND TALKS MORE ABOUT HOW WE THINK AND FEEL ABOUT MONEY. THE AUTHOR OF THIS BOOK, HOUSEL THINKS THAT OUR BEHAVIOUR AND MINDSET PLAYS A VERY VITAL ROLE IN ONE’S FINANCIAL SUCCESS THAN THE TECHNICAL KNOWLEDGE THEY GET FROM ELDERLY PEOPLE AND INTERNET. HOUSEL, THROUGH A COLLECTION OF SHORT AND QUIET INTERESTING STORIES, EXPLAINS US WHY UNDERSTANDING AND CONTROLING EMOTIONS AND HABITS IS THE KEY TO MANAGING MONEY WHICH WILL LEAD A FINANCIAL SUCCESS IN ONE’S LIFE. ONE OF THE KEY IDEAS IN THIS BOOK IS THAT PEOPLE’S EXPERIENCE DETERMINES WHAT THEY BELIEVE ABOUT MONEY. FOR EXAMPLE, IF A CHILD GROWING UP IN ECONOMICAL WEAK BACKGROUND OR FAMILY WILL THINK TWICE BEFORE USING HIS MONEY LUXURIOUSLY, ON THE OTHER HAND, CHILD OF A PARENTS WHO ARE ECONOMICALY RICH COULD TAKE GREATER RISKS WITH HIS EARNINGS. HOUSEL IS SUCH A GOOD WRITER , HE SPEND OVER 10 YEARS RESEARCHING AND WRITING THIS BOOK. THE ONE LINE WHICH HIT ME DEEP IN THIS BOOK IS “ WHAT MAKES SENSE TO ONE PERSON MIGHT NOT MAKE SENSE ANOTHER BECAUSE EVERYBODYS RELATIONSHIP WITH MONEY IS DIFFERENT. HIS WRITING IS SO GOOD. HE USES SIMPLER WORDS FOR COMPLECATED TOPICS AND AREAS WHICH EVEN A TEENGER LIKE ME CAN READ. HE SHARES REAL LIFE STORIES TO EXPLAIN HIS POINTS. THE BOOK HAS 20 CHAPTERS, DIVIDED IN SPECIFIC LESSONS. ONE CHAPTER “GETTING WEALTHY VS STAYING WEALTHY” IS THE LESSON I LIKE THE MOST WHICH HIGHLIGHTS THE DIFFERENCE BETWEEN BULIDING WEALTH AND KEEPING IT. ONE HAS TO TAKE RISKS TO BUILD SATISFACTORY WEALTH BUT KEEPING IT ASKS FOR CAUTION AND CALMNESS. |
| ANOTHER THEME OF THE BOOK IS THAT THE PERSONAL FINANCE IS LIKE DEEPLY PERSONAL. HOUSEL ENCOURAGES READERS TO FOCUS ON WHAT WORKS FOR THEM INSTEAD OF COMPARING THEMSELVES TO OTHERS. THIS IS VERY CLEVERLY SAID FOR A WORLD LIKE TODAY WHERE SOCIAL MEDIA OFTEN CREATES PREESURE TO LIVE UP TO UNREALISTIC STANDARD.
IN CONCLUSION, PSYCHOLOGY OF MONEY IS A VERY CHEERYFULL, REFRESHING, CLEVERLY WRITTEN AND EASY TO UNDERSTAND THAT OFFERS TIMELESS LEESONS ABOUT LIFE AND MONEY. THE MAIN MESSAGE OF THIS STORY IS—MANAGING MANEY IS MORE ABOUT BEHAVIOR THAN KNOWLEDGE—IS BOTH SIMPLE AND CLEVER. WHEATHER YOU ARE NEW TO PERSONAL FINANCE OR LOOKING TO IMPROVE YOUR DAILY HABITS. THIS BOOK IS AN EXCELLENT GUIDE TO BUILDING A BETTER RELATIONSHIP WITH MONEY. |