Free PDF Download ‘The Psychology Of Money’ by Morgan Housel

Before we get into the deep insights of the book, if at all you are interested in getting a free pdf file of the book ‘The Psychology Of Money’ by Morgan Housel, there is a way to do that. All you need to do is visit pdfdrive.com and type the title of the book in the search bar. You will find a free pdf file on the site which you can download in your pc and mobile.

Free download audiobook ‘The Psychology Of Money’ by Morgan Housel

The Audiobook of ‘The Psychology Of Money’ by Morgan Housel’ can be sought for free by registering on Amazon Audible. Amazon is offering 1 month of free audible simply by registering. Use this link (The Psychology Of Money)to get a free audiobook of Morgan Housel’s The Psychology of Money.

Introduction to the Book ‘Psychology of Money’ by Morgan Housel

The book is one of the bestsellers in the field of financial education. It was first published in 2020 and has sold millions of copies since then. The book gives an in-depth analysis of how money works, what makes the rich richer & poor poorer, and what can be done to attract as well as to keep money.

Hardest Financial Decision according to ‘The Psychology of Money’

According to Morgan Housel, the hardest financial decision in anybody’s life is ‘to stop the goal post from moving’. What he means by it is that in our lives, we struggle with lots of ambitions. We keep jumping from one to the next target of the financial journey. We upgrade our-life style just as our bank balance gets upgraded. This cycle goes on and on. Without having a clear goal in our mind, we just keep going, not knowing whether we have reached the goal. Moving away from the goal? Or have already reached the goal. When it comes to finances, we need to have measurable financial goals in our minds and stop re-arranging those with time.

Why Pessimism Is More Heard And Valued Then Optimism?

We have formulated society in a way that if a person can point out why such and such thing is a bad idea and why it is not going to work, the person is considered as an intelligent guy – someone who can oversee a danger ahead. Contrary to that, the person who just gives a thumbs up and good luck after listening to an idea is generally considered someone who hasn’t listened to the proposal with interest. We do not have full trust in ourselves and rely on other people’s votes to execute our ideas. Thousands of ideas ended up in the graveyard because someone in the audience, to prove how genius they were, discouraged the presenter by giving reasons why it was never going to work out.

Understanding the Difference between ‘Bad Decisions’ and ‘Risk’

The book helps us understand the difference between ‘bad decision’ and ‘risk’ in managing money. We manipulate and sugar-coat our losses by labeling it as the ‘cost of risk’. But, while judging other people’s failures on financial decisions, we label that as the result of ‘bad decisions’. It is very important for financial freedom to have a rationalized approach towards money.

How To Know Whether We Are Successful or Failure in Finances

Morgan Housel has given a very simple scale to judge whether you are successful in finance or not. He says that if you wake up in the morning and you realize that you can do whatever want or like to do for the day, that is the peak of financial success. Any step forward from that point onwards can be called passion, ferocity, or anything similar to that. But, financial freedom has been accomplished by you.

Conclusion

The ‘Psychology of Money’ by Morgan Housel is the book on managing finances, which is going to guide you right from the beginning, holding your finger from the start, and showing you all the areas of life where money comes into play. The book is not about how to make more money, but it is about how the money works. It would answer your basic questions about the money as to why we are not able to keep it once it gets into our hands. Reading this book was the best thing that happened to me in the recent past and hope for the same thing happening to you. Here is the link through which you can order your book online (‘The Psychology of Money‘). Please share your opinion about this book review in the comments sections below. With that being said, stay hard, stay strong, stay focused with Focus24.