Joseph Rex's Reviews > The Psychology of Money

The Psychology of Money by Morgan Housel
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it was amazing

This was such a good book and Morgan hits so many points I've always thought about as someone
who did not grow up in the US and have never been comfortable with debt.

Like Morgan, I wanted to be able to pay all cash for my first home but unlike him, I came from absolutely nothing to a new country by myself and that means I either have to wait long years to have that kind of money saved or get a mortgage and pay it off as quick as possible contrary to more popular advice. Despite having a different circumstance, I like how the author emphasized severally that each person have to take actions that best fits them based on the conditions they are in.

I learned a lot from the book and also found myself nodding in agreement as the author re-echoes a lot of the things I think of in aiming for moderation in my financial journey and not taking actions that supposedly impresses people while putting my family's safety in jeopardy.

I am a risk taker in so many ways and I advocate for getting out of our comfort zone but also learning to make calculate risks and not the ones at the expense of what already brings joy in the lives of me and my loved ones. The book once again asserts this mindset I have and reminds me not to harshly judge others that think different.

As I've grown older (28 currently), I've learned that giving advice to other people is almost never worth it, especially when it is unsolicited. Understanding that different people have different needs and accepting that even makes it harder to give solicited advice especially financially. I love the blanket advice that the author resorted to along the lines of knowing what you want and taking actions towards that.

Like Morgan, the author, I want freedom and I've never been very much on the same page with an author like I was 100% through my consumption of this book's content. Even if unlike me you do not agree with all the author had to say, this will still be a really great read for anyone.

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Reading Progress

January 8, 2022 – Shelved as: to-read
January 8, 2022 – Shelved
March 14, 2022 – Started Reading
March 29, 2022 – Finished Reading

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