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THE PHYCHOLOGY OF MONEY: ESTABLISHING AND MAINTAINING WEALTH STARTS IN YOUR MIND
“The Psychology of Wealth is a pertinent and comprehensive overview of the skills and mindset necessary for success. Prosperity can be achieved by anyone,.”
—Donald J. Trump
Doing great with money and wealth isn't really about what you know. It's about how you act. Furthermore, conduct is difficult to instruct, even to savvy individuals, as a matter of fact.
Money — effective money management, individual budget, and business choices — is regularly instructed as a math-based field, where information and recipes guide us precisely. In any case, in reality individuals don't pursue monetary choices on a bookkeeping sheet. They make them during supper, or in a gathering room, where individual history, your own extraordinary perspective on the world, self image, pride, promoting, and odd motivators are mixed together.
And Dr. Morgan Bells shows the way
For what reason really do certain individuals feel an unending condition of need and dread about cash, while others feel truly prosperous, no matter what the size of their ledgers? For what reason really do certain individuals shiver with fear with regards to laying out monetary objectives, while others embrace it with excitement and certainty?
What has the effect? Might it at any point be in their relationship with cash itself?
Individuals who partake in a sound connection with cash share normal propensities and characteristics. Anyway, how would they think, and what do they do another way? Are these ways of behaving designed in a singular's mind, or might they at any point be learned?
In The Psychology of WEALTH, award-winning author Dr. Morgan Bell shares Informations that’ll help you
•Explore functional and dysfunctional financial strategies to wealth
•Discover the unique pattern of your financial and professional successes and failures.
•Find your path of least resistance to prosperity.
•Learn about dozens of unconventional financial strategies that you can apply immediately.
.•15 methods to helping your motivation for positive progress
That's just an overview of what you'll benefit from THE PHYSCHOLOGY OF WEALTH.
- GenresPsychology
33 pages, Paperback
Published June 18, 2022
20 people are currently reading
241 people want to read
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January 18, 2026 Friday, 9 January, 2026
The Psychology of Money Review
Written by Pim Kamphuis
At first I was a bit sceptical about The Psychology of Money’s so-called genius. It was recommended to me by Suzie, my sister. Chance would have it that I was actually in need of one of these books. This is because I had decided to invest in the stock market. This book gave really helpful advice about investing with these 5 main points: Things are never as good or bad as they look, manage your money so that you are peaceful in your finances, make sure that you have enough money so that you can keep making money, save for the sake of saving, no one is impressed with your possessions as much as you are.
The first point, things are never as good or bad as they look, is something that people often forget. A great example of this is the stock market. There have been countless recessions in which people thought that it was the end of the world. However, the stock market has a steady increase of 10% annually. Just remember to not lose your mind if something bad happens, it will almost always sort itself out. On the other hand, happiness and content is also important.
Managing your money so that you are peaceful in your finances is one of the most important lessons to learn in finance. Money is supposed to be a physical version of happiness and content that you can earn. Any way you take care and grow your wealth is good as long as you are happy with it.
In The Psychology of Money, the author, Morgan Housel, gave a really good example of a situation where a great strategy is to make sure that you have enough money so that you can keep making money, blackjack. In blackjack, people bet money on which card is going to be flipped next. You can remember which cards have been flipped over so that you know the chances of specific cards being flipped. However, if you guess wrong on a for a long time, you will run out of money and not be able to get it right and earn the money back. That is why you should always make sure that you have enough money so that you can keep making money.
Most people save to buy something or prepare for an emergency. I have gone through many workbooks that were telling me how to save to buy something. However, saving just for the sake of saving is the most important reason to save money. Morgan Housel argued that you can never predict the reason you will need emergency money. That is why you should always save for the sake of saving.
The Psychology of Money surprisingly (not) also had aspects of psychology. I learned that no one is impressed with your possessions as much as you are. Whenever you see somebody with a Lamborghini, you usually think: “Wow, that is such a cool car, I wish I had one.” Why does this person want one? Well, he wants one because he thinks it will make him look cool. On the other hand, when have you actually looked at a person driving a Lamborghini and thought: Wow, he/she is so cool. No, so do not waste your money on those kinds of items.
In summary, things are never as good or bad as they look, manage your money so that you are peaceful in your finances, make sure that you have enough money so that you can keep making money, save for the sake of saving, no one is impressed with your possessions as much as you are.
The Psychology of Money Review
Written by Pim Kamphuis
At first I was a bit sceptical about The Psychology of Money’s so-called genius. It was recommended to me by Suzie, my sister. Chance would have it that I was actually in need of one of these books. This is because I had decided to invest in the stock market. This book gave really helpful advice about investing with these 5 main points: Things are never as good or bad as they look, manage your money so that you are peaceful in your finances, make sure that you have enough money so that you can keep making money, save for the sake of saving, no one is impressed with your possessions as much as you are.
The first point, things are never as good or bad as they look, is something that people often forget. A great example of this is the stock market. There have been countless recessions in which people thought that it was the end of the world. However, the stock market has a steady increase of 10% annually. Just remember to not lose your mind if something bad happens, it will almost always sort itself out. On the other hand, happiness and content is also important.
Managing your money so that you are peaceful in your finances is one of the most important lessons to learn in finance. Money is supposed to be a physical version of happiness and content that you can earn. Any way you take care and grow your wealth is good as long as you are happy with it.
In The Psychology of Money, the author, Morgan Housel, gave a really good example of a situation where a great strategy is to make sure that you have enough money so that you can keep making money, blackjack. In blackjack, people bet money on which card is going to be flipped next. You can remember which cards have been flipped over so that you know the chances of specific cards being flipped. However, if you guess wrong on a for a long time, you will run out of money and not be able to get it right and earn the money back. That is why you should always make sure that you have enough money so that you can keep making money.
Most people save to buy something or prepare for an emergency. I have gone through many workbooks that were telling me how to save to buy something. However, saving just for the sake of saving is the most important reason to save money. Morgan Housel argued that you can never predict the reason you will need emergency money. That is why you should always save for the sake of saving.
The Psychology of Money surprisingly (not) also had aspects of psychology. I learned that no one is impressed with your possessions as much as you are. Whenever you see somebody with a Lamborghini, you usually think: “Wow, that is such a cool car, I wish I had one.” Why does this person want one? Well, he wants one because he thinks it will make him look cool. On the other hand, when have you actually looked at a person driving a Lamborghini and thought: Wow, he/she is so cool. No, so do not waste your money on those kinds of items.
In summary, things are never as good or bad as they look, manage your money so that you are peaceful in your finances, make sure that you have enough money so that you can keep making money, save for the sake of saving, no one is impressed with your possessions as much as you are.
March 19, 2023
Read it in a weekend. I hate to say this, but it didn't teach me anything that my parents or Dave Ramsey hadn't already taught me. Save. SAVE. SAVE! Invest! But, it was a good refresher on the basics.
October 10, 2023
Nice 👍👍
October 10, 2025
Good book, simple and beneficial.
Displaying 1 - 4 of 4 reviews