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Publisher's 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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I am very disappointed with the psychology on money

No values on the psychology aspect of making money. The author is basically recounting successful end-tail anecdotes and one makes no mistakes of tracing back the corresponding “right psychology “ or strategies produced the successful results. If You want to get real money making mind, I would recommend “The Almanack of Naval Ravikant “, full of practical values. If you have read real psychology books from Alfred Adler, you will find the author need to get real psychology education himself/herself first.

15 people found this helpful

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Literally changed my financial life!

This book and its wisdom changed my perceptions about finance! Since I am a financial planner, I can safely said that this book changed my life!

6 people found this helpful

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Similar to The Millionaire Next Door

A lot of the main concepts explained I found were very similar to the The Millionaire Next Door. I found that book to be more impactful and much more enjoyable of a read. The content in this book is great.. however I felt the explanation of its principles were done better in that book,

1 person found this helpful

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  • LJO
  • 2021-07-24

Incredible story telling

This was very worthwhile. Lots of fantastic lessons for sustainable and practical living. Every chapter was entertaining, relevant and insightful. I'm going to listen to this again at some point.

1 person found this helpful

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    4 out of 5 stars

Money and personal perspective.

Provides a different lens when looking at investments and savings, which is not completely analytical. This book also helped me to see some of my investments choices as being more emotional then practical. Good listen to help round out your perspectives.

1 person found this helpful

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Ummm....

This book will rub off differently based on the type of person you are. I got a lot of negative feels on money, enough to make me not want to care about money. I still can't bash this book, as it is very well put together.

1 person found this helpful

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Psychology & Wisdom

I recommend The Psychology of Money as essential reading for all of my Wealth Coaching clients and their families.
Curtis Scoville
G7 Wealth Coach

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Great overview of people's relationship with money

The book does a wonderful job of explaining why people see and use money the way they do. History lessons along the way with points of view backed up by facts. Some of these things I used to know and the book jogged my memory. Other things were new and quite interesting to learn.
All points are provided in a simple enough way to comprehend. Not complex but still very interesting and entertaining.

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Loved this book!

This book opened up finances for me in a whole new way. Looking at the history of money really brings it into perspective. This book has a ton of gold nuggets and I am almost certain I will read it again. Thank you!

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worth a listen

the author made this very light. changed my views about money and wealth. definitely worth a listen.

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  • Alex
  • 2021-05-30

Could be summarized in one sentence

I’ll save you a few hours of your time. The author invests all his money in index funds. The end.

299 people found this helpful

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  • Dan
  • 2020-10-05

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.

71 people found this helpful

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  • Brian Sachetta
  • 2020-09-28

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”

52 people found this helpful

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  • Bianca Alison
  • 2020-09-25

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.

40 people found this helpful

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  • Dr Jonny
  • 2021-01-30

Interesting, but little substance

spends most of the book saying no one really knows anything about money, then gives a few recommendations at the end, most of them common sense. them finishes with another small story about the economy since the great depression, but with limited biased analysis.
you can skip it...

27 people found this helpful

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  • jlanewell
  • 2020-10-05

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.

24 people found this helpful

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  • Randall Bricker
  • 2020-10-04

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!

17 people found this helpful

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  • Ryan
  • 2020-10-07

Must listen!

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

12 people found this helpful

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  • Matt Lasher
  • 2020-09-26

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

11 people found this helpful

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  • Tony Weber
  • 2020-10-07

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.

9 people found this helpful

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  • Anonymous User
  • 2022-05-05

Straight to the point

This book doesn't waste your time, it is quite effective and go straight to the point.

the author has a scientific approach and give convincing arguments to each of his ideas.

I would definitely recommend this book to anyone seeking to understand the dynamics of money

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  • abc
  • 2022-04-25

Good story, bad performance.

bad performance. The voice is robotic. It maje hard to focus on the story. And it lacks actionable points.

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  • Anonymous User
  • 2022-03-07

Can here reading breathing

The book is alright, I got a few interesting elements.
Not satisfied with the performance.

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  • Anonymous User
  • 2022-01-18

Interesting but somewhat basic

The financial notions discussed in the book are sometimes a bit basic and obvious. Especially if you come from a financing background.

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  • Anonymous User
  • 2021-11-29

timeless wisdom for investing, career and life

Show me a better book in it's genre but I liked the approach in this book. Only wish I had read it 10 years ago.

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  • Fatima K
  • 2021-07-04

A must listen !

loved it! so good to understand our relationship with money. a quick read and insightful.

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  • Maria R.
  • 2020-11-27

Great book

Good book to understand general economic American History and also gives you a perspective of investment in the stock market in an aggressive and passive way which leads to more or less risk

Highly recommended