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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

Average Customer Ratings
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  • Overall
    4 out of 5 stars
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    5 out of 5 stars

Unmissable !

I only wish I had read this book two decades before...though that would still not guarantee a different outcome for men than they are destined to !!

Nonetheless, this book captures the essence of investment , returns, savings ; most of the important things that encapsulates the understanding of money - not how you earn it, but how to value , preserve and grow your money. Excellent narratives to help one learn to strike a balance between getting wealthier and making the most of what life has to offer.

Superb read...Extremely relevant in current times and highly recommended for everyone.

30 people found this helpful

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Excellent Book & Excellent Performance

Thank you audible for getting this book here. Great performance by Chris Hill and lovely book by Morgan Housel. The more I read the less I know.

16 people found this helpful

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The Best Book on Finance

I have been following stock markets for last 16 years. This book has summarised all my learning across market cycles. Must read for novice and experienced investors.

7 people found this helpful

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great book

loved it completely, a good book and a must read for all those investing in stocks

5 people found this helpful

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No complicated jargons

This book puts in words the thoughts which you already have and makes you think on it. I appreciate the author for doing a great job. Recommend this book for everyone who is running behind money as it makes you understand as to why we are running.

4 people found this helpful

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Outstanding book!

By far the best book I read in 2020...packed with insights brought out in such a common-sensical way!

3 people found this helpful

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Good read.

Great insights and a practical suggestions, narrated well. Good read for anyone expecting miracles in a rush.

3 people found this helpful

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nice read

you must read this book. I recommend this book if you are interested in money. this book will be as famous as rich dad poor dad.

2 people found this helpful

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MBA Finance of Life

This is excellent learning experience. Keep your mind open! Throughout our upbringing we are taught many things, sometimes to make further process it is necessary to unlearn them!

1 person found this helpful

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overhyped book

Did not fulfill expectations. it is highly recommended book by many but does not quite cover details of how money is made. Author generalise every success into luck.Do not read if you follow e everything is possible.

1 person 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”

14 people found this helpful

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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.

10 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.

9 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

6 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!

5 people found this helpful

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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

5 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.

4 people found this helpful

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  • Dr Jonny
  • 30-01-21

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...

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.

3 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.

3 people found this helpful

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  • Lakshan
  • 31-12-20

Quite disappointing

Nothing new here and not worth the time spent listening. Very US based and does not give insights to other markets.

5 people found this helpful

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  • Ivan
  • 03-05-21

Not what I expected from the book with such a title.

Not what I expected from the book with such a title. A lot of things are contradictory to each other. There are many times when author refers to something with no real explanation, but just out of his own opinion. Later on when you are completely confused he explains it in some detail. Again pointing to his own opinion. Also, the way book is read is a bit pessimistic.
Finished this book out of curiosity but kept the same opinion until the end of the book. There are no real answers in this book.

1 person found this helpful

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  • It's a good game
  • 03-04-21

Interesting book but I don't agree many concepts

Fundamentally I liked this book but I found myself not agreeing with the core concept which is to live frugally forever (pretty much until old age). When does one actually get to enjoy the fruits of their labour? Life is too short...

1 person found this helpful

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  • Anonymous User
  • 21-01-21

The black swan simplified.

simple, comprehensive and informative book. I will definitely listen to it again and again as it has a lot of wisdom nuggets.

1 person found this helpful

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  • Marc
  • 06-12-20

Great down to earth lessons

If only this book could be taught in schools today, maybe we would be able to avoid the catastrophic future we now surely face....

1 person found this helpful

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  • Simon
  • 16-10-20

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.

1 person found this helpful

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  • Cheah Poh Jin
  • 10-05-21

Good for people that are new to finance

Awesome book to start your financial literacy! Audio is clear and soothing to the ears. Advice are actionable and a good place to start.

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  • Mr. David Garth
  • 30-04-21

You will learn more from this book than 1000 other

If you only listen to one book in your life this is it!
Every teenage kid should study this at school and will learn more from this than all of Shakespeare's work combined

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  • Amazon Customer
  • 14-04-21

I'd recommend this: good advice and good insights

This is a more practical and useful book than the current academic trend of behavioural econ or a lot of quack financial advice out there. I'd recomend it to newbies and to people who've been investing for a while. It also works regardless of geography.
This paired with a country-specific document (about the legal, tax, investment options of your own country) is a great pair.

Narrator is ok.

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  • Joy E. Adams
  • 01-04-21

Makes you think

A lot of the points in this book are you well know but the biggest benefit is that it will help you considers personal behaviors you’re not considering.

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  • Anonymous User
  • 19-09-20

Good Balanced Book

Enjoyed listening the psychology of money. plenty of tips to take away and reinforcement of value of time when investing and living within your means . loved it

2 people found this helpful

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  • Luisa
  • 19-09-20

Best finance book I have ever read

A succinct explanation of the financial and investing world that I can relate to. Thank you. I am going to make my kids listen to this hopefully to learn what I wish I knew in my youth.

2 people found this helpful

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  • Anonymous User
  • 21-03-21

Essential reading for the novice investor

An important reference book for anyone looking to grasp the concept of one behavior with money.
Having spent a lifetime myself studying my own behavior with money and that of the thousands I have worked with, this book is going to move the dial for many who are trying to make sense of the whole money and investing journey for an individual or household, even coming from someone who lives in Australia, a lot of these thoughts and principles are relevant.

1 person found this helpful

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  • Anonymous User
  • 09-11-20

issues with the audio book

I really like the information in the book about the psychology of money, and I would give a higher rating (4-5 stars). But every time I try to listen to the book now it's not playing for whatever reason. All other audio books run smoothly in my library. Please help in fixing this issue and I will edit my review. Thank you.

1 person found this helpful

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  • Anonymous User
  • 30-09-20

WOW! What a book!

Thoroughly enjoyable and imminently quotable. I found myself wishing to pass Morgan’s advice to my daughters along the way. Wisdom in spades throughout. Very highly recommended this.

1 person found this helpful

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  • Divya
  • 11-05-21

American old economy stories.

mostly nice and well narrated but becomes repetitive towards the end. overall good read to understand economic psychology

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  • Amazon Customer
  • 27-04-21

Good read. But no mention of crypto?

Great read and I highly recommend it. One thing I found strange was that there was no mention of cryptocurrency and future of money.

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  • Anonymous User
  • 23-04-21

Very relatable

Thank you for the the read.
I've always earnt relatively good money but also spent it as fast as it come in. This has helped rewire my thought process to value my income.
Cheers Dan

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  • Anonymous User
  • 08-04-21

Thought provoking

This book is outstanding. Often times books about money give you the “I can, so so can you” motivational pitch. This doesn’t. This recognises the complexity and irrationality in the world and provokes thoughts about your wealth that are truly useful in the long run, not just short term injections.

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  • John M
  • 07-03-21

The first audio book that I wished would never end

You sometimes come across a book that you feel is a must read. One that you could have read before becoming a mature adult. This is one of them.
The Psychology of Money discusses the differences between different people that have achieved financial freedom. Ones that were risk takers and others that were slow investors that stuck to a long term plan.
It sets the record straight about having conservative expectations when it comes to annual returns in investing and that most of those that have built incredible fortunes such as Warren Buffet,did it by sticking to what they know consistently for decades.
This book grabs your attention from the very first chapter and keeps you wanting to hear more.
It discusses compounding returns, the importance of giving your investing time to ride out the inevitable but unpredictable bad economic times, recessions, about certain well know billionaires and the author even discloses how they build their own wealth.
I absolutely love this book and was sad when it ended. Usually I am looking forward to moving onto another audio book that I listen to in the car when travelling to and from work. Not with this book. Easily 5 stars and one your 16 year old children must immediately into their brains. A fantastic read!