#3 - The Psychology of Money by Morgan Housel

Mindful Reading

A discussion of the book The Psychology of Money by Morgan House.
As the title suggests, the book is about the psychology of money, and as the subtitle suggests, it goes through timeless lessons on wealth, greed, and happiness. The book looks at how people think about money, how they feel about money, how they spend it or don't, the idea of status and money, greed, the rational and irrational things people do with and for money, and much more related to the psychology of money.
But mostly, it's about how we behave in relation to money, as it says on page 2, "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. And behavior is hard to teach, even to really smart people."
The author goes on to say, "...financial success is not a hard science. It's a soft skill, where how you behave is more important that what you know." (pg. 4) This soft skill, he calls "the psychology of money". And so, in 20 chapters, based on the original report he wrote of the same title (The Psychology of Money), the book gives a series of short stories and examples, in which the author is trying to convince you that soft skills are more important than the technical side when it comes to money.

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