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The Psychology of Money

Timeless Lessons on Wealth, Greed, and Happiness
Written by: Morgan Housel
Narrated by: Chris Hill
Length: 5 hrs and 48 mins
4.8 out of 5 stars (33 ratings)

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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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great book

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

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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.

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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.

3 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

2 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.

2 people 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”

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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.

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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!

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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.

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  • Barbara
  • 03-10-20

Absolutely loved it

Great perspectives on money, life, and how to get the most out of both without making unnecessary sacrifices. A book I have already read twice and will read again.

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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

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  • Doron D. Kahana
  • 20-09-20

Brilliant and practical

In many ways, I wish my son will turn out like Morgan Housel, but he misses one very important point in the book, that of immigrants. A brilliant and intellectually stimulating thinker, Morgan uses history and practical book smarts to more than compensate for his omission. But he thinks of America from his perspective, as he would quickly admit. He encourages everyone to put their own perspective in front of their financial goals and question the rationalization of the markets, and for that I admire his thinking. This book is a masterpiece in finance and history, which I guess is a subtle way of writing psychology. Overall, I highly recommend it for anyone, especially younger people.

1 person found this helpful

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  • Samar cover for NOTE 3
  • 19-10-20

Loved and Agreed

Having been reading many books and seeing myself change. I love the way you aim to live your life, because I now know that happiness is from within not from having too much of what you will just end up passing on to others eventually. Great help on saving money.

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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.

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  • John Sharpe
  • 15-10-20

A Lovely Little Listen

This is a lovely little listen for anyone who likes to think about tomorrow. We all save for that rainy day and we all stress that we might not be making the right decisions with our savings and investments. This book helps you clear away some of the fog and come to the realization that you were right all along and keep going. Morgan Housel is excellent at distilling ideas and presenting them in easy to consume stories.

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  • robin burby
  • 12-10-20

Great content but

Really boring & monotonous voice. I'm not looking for drama but this guy can really help you sleep

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  • Alexander Pettit
  • 07-10-20

Brilliantly crafted statements.

Everyone should read this book. Captivating. Brilliant. Useful. Insightful lessons for all. Enjoyed the narration.

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  • David Graham
  • 19-09-20

Excellent book on mental game of finance

This book is excellent and gives very easy to follow lessons and stories on the various mental aspects of investing and personal finance. A must read for anyone interested in this topic. One of the best books on the topic I've read/listened to.

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  • Anonymous User
  • 17-09-20

Excellent!

Great book. Thumbs up for the narrator! It was probably the best book narration I've ever heard.

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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

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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.

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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.

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  • len B
  • 07-10-20

Best investors overview ever.

If you don't understand the parameters of investing this is the book for you.

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  • Anonymous User
  • 07-10-20

For Everyone

I found this book particularly useful in understanding people's views on money and investment strategy from different perspectives that are based on personal experience as well as individual financial goals. It has made me reconsider my own future needs.

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  • saman
  • 06-10-20

Fantastic book

Shares a new perspective and analyses in summary how the world got to the financial position it is in at present

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  • W*BvK
  • 03-10-20

Should Be A Must Read for Every Young Person

A Must-Read for Every Young Person and Should be part of the High School Curriculum. Common sense, Well written and insightful I wish I had listened to The Psychology of Money, 40 years ago..................................... It actually reflects my father's philosophies. and he did well in life....... Listen to "The Psychology of Money" and "Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine" By Mike Michalowicz and you will change your financial life. I did a couple of years ago and it has made my family and companies COVID 19 proof. I kept all staff on full wages. and business is already back to normal with funds available to take advantage of the opportunities. Young or older, worth the listen Highly Recommended.

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  • peter
  • 27-09-20

enlightening

Well read and food for thought. Very easy listening with good cadence and tone A must.

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  • Amazon Customer
  • 14-09-20

Excellent

I listened to Morgan's interview on Bloomberg Masters in business and knew I had to give this a go. Great lessons with historical context, not just another finance book with attempted retrospective explanations. Useful advice and very thought provoking around areas of risk management and optimism. Short but no words wasted. Excellent.