The Psychology of Money

Morgan Housel
Reading Order: Book 29
Categories: 2022, Erik Rostad
Pages: 256
Date Started: July 17, 2022
Date Finished: July 18, 2022
3h 56m 38s
Reason Book was Chosen:
I like to have one personal finance-related book per year. Small changes in personal finances and investing can have tremendous ramifications.

My Thoughts

A great application of Kahneman to the area of personal finance. As the title suggests, this has more to do with understanding your thinking around money than brass tax suggestions (although it does have a few of those as well). That ties in well with one of Housel’s main points – the psychology of money says “how you behave is more important than what you know.”

In these types of books, I’m looking for the counterintuitive ideas. This book had a few and in financial books, adopting one of these counterintuitive ideas can literally pay huge dividends. It’s worth the +/- four hours it took to read this book. Heck, that’s just one work week for Tim Ferriss :).

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