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falconfeast's review against another edition
informative
lighthearted
medium-paced
3.5
Many lessons felt obvious, but I enjoyed the stories that came with them.
It’s a good, quick read and worth a one-time experience.
It’s a good, quick read and worth a one-time experience.
rhs1103's review against another edition
5.0
Reread the concluding chapters as a few ideas have really stuck with me.
1. Manage your money in a way that helps you sleep at night.
Money is about emotion, not just rationality. It's not about performance or status—it’s about peace of mind, strength, stability, and security.
Having a bedrock of savings makes you feel good. Spending is about having fun and fun shouldn’t come at the expense of feeling good—otherwise it turns into stress.
2. Save to feel good and 'stay in the game' but forget arbitrary rules about rates.
For me, it’s less about hitting a specific percentage and more about asking:
Do I have enough money to achieve my goals?
What are my goals?
One of them is just feeling good and feeling protected against the uncertain.
Framing it this way feels far more motivating.
3. Celebrate progress.
At 33, I’ve achieved what my 23-year-old self always dreamed of: an independent, healthy lifestyle, living in a neighborhood I love, with an income that allows me to essentially buy what I want. I feel like I've done well by the younger version of myself and I wish I could have provided to them then what I have provided to me now.
Future Goals
My goals now are tied to the life I want to build, potentially with a partner:
A large emergency fund.
An apartment deposit to split with a partner.
Three big international trips before I turn 40.
A dog.
Maybe a 4-day workweek.
Longer term, family.
Habits that work for me
Enforced savings through super has lead to my largest source of wealth and has prompted me to use salary sacrifice to achieve some of my longterm goals. Redirecting income growth to savings has made that pain free. The next steps is to apply that same model to a low-cost index fund outside of super.
Housel’s central message that money is about freedom is ultimately one grounded in emotional wellbeing. To feel strong and free.
1. Manage your money in a way that helps you sleep at night.
Money is about emotion, not just rationality. It's not about performance or status—it’s about peace of mind, strength, stability, and security.
Having a bedrock of savings makes you feel good. Spending is about having fun and fun shouldn’t come at the expense of feeling good—otherwise it turns into stress.
2. Save to feel good and 'stay in the game' but forget arbitrary rules about rates.
For me, it’s less about hitting a specific percentage and more about asking:
Do I have enough money to achieve my goals?
What are my goals?
One of them is just feeling good and feeling protected against the uncertain.
Framing it this way feels far more motivating.
3. Celebrate progress.
At 33, I’ve achieved what my 23-year-old self always dreamed of: an independent, healthy lifestyle, living in a neighborhood I love, with an income that allows me to essentially buy what I want. I feel like I've done well by the younger version of myself and I wish I could have provided to them then what I have provided to me now.
Future Goals
My goals now are tied to the life I want to build, potentially with a partner:
A large emergency fund.
An apartment deposit to split with a partner.
Three big international trips before I turn 40.
A dog.
Maybe a 4-day workweek.
Longer term, family.
Habits that work for me
Enforced savings through super has lead to my largest source of wealth and has prompted me to use salary sacrifice to achieve some of my longterm goals. Redirecting income growth to savings has made that pain free. The next steps is to apply that same model to a low-cost index fund outside of super.
Housel’s central message that money is about freedom is ultimately one grounded in emotional wellbeing. To feel strong and free.
the_magpie_reader's review against another edition
4.0
When I picked up "The Psychology of Money" by Morgan Housel, I was expecting financial advice; instead, I got life advice! Most of the tips contained in this book can be applied to so many more fields than just finance.
A very interesting read, clear and understandable even to a complete beginner such as myself!
A very interesting read, clear and understandable even to a complete beginner such as myself!
thetalesofkalopsia's review against another edition
informative
inspiring
reflective
fast-paced
3.75
loomistj's review against another edition
5.0
Excellent book. Filled with wisdom, explained in relatable and digestible ways. Feels like a required reading for most people. Highly recommend.
abuskala's review against another edition
informative
medium-paced
3.75
It was an interesting read.
- Statistically you are better off continuously putting money in the stock market.
- The events in history have a big effect on the way you think about money and what you tend to do with it.
- Live within your means and do not compare yourself to others.
2030xju's review against another edition
3.0
I am familiar with most of the content and advice in this book: live below your means, time is the most important factor in investing, financial independence equals taking control of your time, etc. It would have been more helpful if I were still in the early stages of pursuing FIRE. Regardless, each chapter touches on a concept and explores it with numerous real-life examples and personal stories (although there are perhaps too many references to Bill Gates and Warren Buffett). With the rise of financial influencers and content on social media, this book offers little new insight that I didn’t already know.