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A review by dmaurath
The Psychology of Money by Morgan Housel
2.0
This is maybe the mindset of money but not the psychology. It never goes more than skin deep into why people think about money the way they do. I say “maybe” because it’s really only the authors mindset and it strays from discussing mindset to give quasi-advice to talk newbie investors down from risky ledges.
This is disappointing because I hoped for something that I didn’t know I wanted: a Thinking Fast and Slow focused only on money. And because the author describes some well known psychological concepts but never names them, which is a missed opportunity to give readers a common language to use when discussing the book. It’s much more difficult to discuss the concepts when they can’t be named.
Overall, if you’re looking for the actual psychology of money seek out behavioral econ books. If you want financial advice, you’re better served with a google search. Plenty of blogs cover these well-worn ideas.
This is disappointing because I hoped for something that I didn’t know I wanted: a Thinking Fast and Slow focused only on money. And because the author describes some well known psychological concepts but never names them, which is a missed opportunity to give readers a common language to use when discussing the book. It’s much more difficult to discuss the concepts when they can’t be named.
Overall, if you’re looking for the actual psychology of money seek out behavioral econ books. If you want financial advice, you’re better served with a google search. Plenty of blogs cover these well-worn ideas.