Our Psychology of Money
The Psychology of Money explores how money moves around in an economy and how personal biases and the emotional factor play an important role in our financial decisions, as well as how to think more rationally and make better decisions when it comes to money.
Here are my three favorite lessons from the book:
- Being greedy can turn out to be the biggest financial mistake you’ll ever make.
- Envy has no place in the money market, as it can blur your thinking.
- Our early experiences with money determine our financial decisions later on.
Lesson 1: When it comes to managing your money, it’s better to leave greed out of it.
Lesson 2: Strong emotions such as envy can push you towards making sloppy decisions.
Lesson 3: The experiences we have early on in our life determine our financial decisions.
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