About the Video
My whole worldview of money has changed all thanks to this book
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โฌ๏ธ Timestamps:
0:00 โ Introduction
0:31 โ Chapter 3: Never Enough
2:15 โ Chapter 4: Compounding
4:15 โ Chapter 6: Tails, You Win
7:44 โ Chapter 11: Reasonable more than Rational
9:38 โ Chapter 15: Nothing is Free
10:42 โ Chapter 16: You and Me
12:27 โ Chapter 17: The Seduction of Pessimism
13:56 โ Conclusion
I came across The Psychology of Money by Morgan Housel and man, it has changed my entire perspective of money. In case you didn’t know, Morgan Housel, a former columnist with the โWall Street Journalโ, and in this book, he discusses the emotional aspects that influence how financial decisions are made, which, once identified, allows one to better understand oneself.
For example, some people may feel a sense of anxiety or shame about money due to past financial struggles, while others may have a more optimistic or carefree attitude towards money based on their upbringing or personality.
Our emotions can also influence our financial decisions, such as whether to save or spend money, how much risk to take when investing, and whether to borrow money or pay off debts. For instance, fear of losing money can lead people to avoid investing or taking risks, while overconfidence can lead people to make risky investments that may not pay off.
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