The Psychology of Money
Post by Farzana Syed on Sunday, October 29, 2023
Earning money can be easy, however making proper financial decisions and establishing a profound financial stability plays a huge role in one's life. The book 'Psychology of Money',delves into the art of improving one's finances by making genuine financial decisions.
In the book Psychology of Money, the author Morgan Housel indulges the readers in pursuing a better relationship with money pertaining to making smarter financial decisions.
The book enlightens the reader on how one's psychology can work for and against him/her.
In an effort to utilize the power of decision making , though the financial outcomes are ascertained by the quality of one's decisions and actions, however , contradicting the same context one can make good decisions that lead to poor financial outcomes and vice versa. Sometimes , bad decisions can lead to good financial outcomes.
Although finances have a vital role to play in our lives yet very rarely people have a discourse or educate themselves on finances. Owing to this, many presumptions and false ideas about money have been evolving over the years.
The Psychology of Money teaches you what can be done to improve finances. The book emphasizes diverse financial stability and experiences different people encounter in their lives.
The book stresses upon how any financial decision making should always be backed up by sound analysis, reliable facts, and a mind open to new perspectives and constructive criticism.
One needs to work on such ability while there should be no room for subjectivity, biases, or impulsive decisions. Investments drawn in a hurry can eliminate one's valuable savings, while properly made decisions can speed up one's journey to financial freedom.