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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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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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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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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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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.

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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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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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Wonderful

I’ve listened to this 3 times. Excellent book, thoroughly enjoyed it the concepts and the delivery

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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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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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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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  • Brian Sachetta
  • 28-09-2020

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”

15 people found this helpful

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  • jlanewell
  • 05-10-2020

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.

11 people found this helpful

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  • Dan
  • 05-10-2020

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.

11 people found this helpful

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  • Ryan
  • 07-10-2020

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
  • 04-10-2020

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!

6 people found this helpful

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  • Matt Lasher
  • 26-09-2020

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
  • 25-09-2020

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.

5 people found this helpful

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  • Dr Jonny
  • 30-01-2021

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...

4 people found this helpful

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  • Tony Weber
  • 07-10-2020

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
  • 03-10-2020

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
  • 31-12-2020

Quite disappointing

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

7 people found this helpful

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  • Ivan
  • 03-05-2021

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.

2 people found this helpful

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  • It's a good game
  • 03-04-2021

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...

2 people found this helpful

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  • Anonymous User
  • 21-01-2021

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.

2 people found this helpful

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  • Simon
  • 16-10-2020

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.

2 people found this helpful

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  • ken
  • 28-03-2021

Best ever

loved every moment learnt life changing information thank you ever so much!!. A must read!!

1 person found this helpful

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  • Marc
  • 06-12-2020

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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  • Anonymous User
  • 19-06-2021

Worth the time and energy , easy to follow

Very easy and interesting, I read this together with a few other money books, in comparison much better in story telling and summary.

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  • Anonymous User
  • 15-06-2021

One of the best

Give a detail perspective about finance how our feeling and beliefs effect our money. Highly recommend

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  • Nick Sharp
  • 07-06-2021

Excellent

Well written and easy to follow and understand. A must read. Thank you Morgan Housel!

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