Teresa
The premise of The Psychology of Money by Morgan Housel is that doing well your money has more to do with the your behavior than with any education or know how you may have. How you behave is more important than knowing what to do. Different people have learned different lessons about how to handle their money. These lessons have been learned through different eras of history and different circumstances that people have endured. These lessons stick even if circumstances change. Those life lessons never really leave any of us. Our world view, ego, pride, or personal incentives all combine to form something that works for an individual.
Some more takeaways from this book are these: learn from surprises; understand what is enough for you; true wealth is not seen; different experiences lead to different views; understand compounding, waiting can be a good thing; keeping money is different than getting money; building wealth goes hand in hand with saving; have a margin of safety.
This book is a nice starting place when one wants to understand how to build a nice safety net.
The premise of The Psychology of Money by Morgan Housel is that doing well your money has more to do with the your behavior than with any education or know how you may have. How you behave is more important than knowing what to do. Different people have learned different lessons about how to handle their money. These lessons have been learned through different eras of history and different circumstances that people have endured. These lessons stick even if circumstances change. Those life lessons never really leave any of us. Our world view, ego, pride, or personal incentives all combine to form something that works for an individual.
Some more takeaways from this book are these: learn from surprises; understand what is enough for you; true wealth is not seen; different experiences lead to different views; understand compounding, waiting can be a good thing; keeping money is different than getting money; building wealth goes hand in hand with saving; have a margin of safety.
This book is a nice starting place when one wants to understand how to build a nice safety net.