‘The Psychology of Money – Timeless Lessons on Wealth, Greed, and Happiness by award-winning author Morgan Housel is one of the best books on personal finance. Neat and crisply written – this book offers a lot of wisdom and high-quality content.

Morgan Housel is a partner at the Collaborative Fund where he writes a regular blog; previously he was a columnist for the Wall Street Journal and the Motley Fool. He is also a winner and awardee in some of best Awards of bussiness and finance.

In this book, Morgan Housel shares 19 stories exploring the strange ways people think about money. It covers observations on our relationship with money and tells us how our thinking towards finances drives the critical decisions of our life.

The premise of this book is that – doing well with money has a little to do with how smart you are and a lot to do with how you behave. It inspires you to live a wealthy life by making smart decisions.

‘The Psychology of Money’ is an essential read for anyone interested in being better with money. Fast-paced and engaging, this book will help you refine your thoughts towards money. You can finish this book in a week, unlike other books that are too lengthy.

Some great quotes from the book such as,

  • ‘Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time.”
  • “Doing well with money has a little to do with how smart you are and a lot to do with how you behave. And behavior is hard to teach, even to really smart people. A genius who loses control of their emotions can be a financial disaster. The opposite is also true. Ordinary folks with no financial education can be wealthy if they have a handful of behavioral skills that have nothing to do with formal measures of intelligence.”
  • “Using your money to buy time and options has a lifestyle benefit few luxury goods can compete with.”
  • “My own theory is that, in the real world, people do not want the mathematically optimal strategy. They want the strategy that maximizes for how well they sleep at night.”


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