Money - investing, personal finance, and business decisions - is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.

In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

Listening Length

5 hours and 48 minutes
Author

Morgan Housel
Narrator

Chris Hill
Audible release date

Sept. 8 2020
Language

English
Publisher

Harriman House
ASIN

B08D9Y1SX1
Version

Unabridged
Program Type

Audiobook
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Product details

Listening Length	5 hours and 48 minutes
Author	Morgan Housel
Narrator	Chris Hill
Audible.ca Release Date	September 08 2020
Publisher	Harriman House
Program Type	Audiobook
Version	Unabridged
Language	English
ASIN	B08D9Y1SX1
Best Sellers Rank	#17 in Audible Books & Originals (See Top 100 in Audible Books & Originals) #1 in Finance in Accounting #1 in Personal Finance (Audible Books & Originals) #1 in Investing & Trading

Customer reviews

4.7 out of 5

35,447 global ratings

5 star		76%
4 star		17%
3 star		4%
2 star		1%
1 star		1%

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Jackson

Unlock the psychology behind your personal finances

Reviewed in Canada 🇨🇦 on April 5, 2023

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"The Psychology of Money: Timeless lessons on wealth, greed, and happiness" is a thought-provoking book that provides valuable insights into the psychology behind personal finance. The author, Morgan Housel, presents a refreshing perspective on money and how it intersects with our lives, both practically and emotionally.

What stood out most to me was the engaging writing style, which made complex concepts easy to understand. Housel uses real-world examples to illustrate his points, making the book relatable and relevant. Additionally, the author's focus on the behavioral aspect of personal finance, rather than just the technical aspect, is insightful and refreshing.

However, if you are like me you may have expected some sort of actionable advice on managing money, this was not the case. While it provides a valuable understanding of the psychology behind money, it does not offer specific tips or strategies for managing one's finances.

I read this book on the Amazon Kindle Paperwhite, and it was a very enjoyable and seamless read on the device, showing that it was well adapted to the e-reader.

Overall, "The Psychology of Money" would be best suited for readers who are interested in understanding the intersection between money and psychology. It would be particularly useful for those who may struggle with managing their finances or those who are seeking a new perspective on personal finance. The book is a great read for those who want to gain a deeper understanding of the emotional and psychological drivers behind our financial decisions. This is a staple in a collection for building a better financial mindset.

8 people found this helpful

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Amazon Customer

Great book

Reviewed in Canada 🇨🇦 on May 9, 2023

Verified Purchase

The book is full of stories, anecdotes, and examples from history, psychology, economics, and personal experience that illustrate the main points and make them easy to remember and apply. The book is also written in a clear, concise, and witty style, making it a pleasure to read. The Psychology of Money is a must-read for anyone who wants to improve their relationship with money and achieve financial peace of mind. It will change how you think about money and help you better understand one of life’s most important topics.

Helpful

Victor C.

Great book to understand the importance of investing.

Reviewed in Canada 🇨🇦 on May 12, 2023

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At the beginning I thought it was not going to be what I expected, but the more I read the more I though that I could apply all this knowledge to improve my financial situation.

One person found this helpful

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HITESH SHARMA

Nice

Reviewed in Canada 🇨🇦 on May 14, 2023

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Great book on personal finance, spending habits, and psychology of saving passively. Offers insights to many great minds on various topics associated with that psychology.

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Joe

Very informative

Reviewed in Canada 🇨🇦 on May 23, 2023

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Gained some knowledge about what makes people make decisions about money

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R.A.

Great book

Reviewed in Canada 🇨🇦 on May 27, 2023

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Highly recommended read.

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Janelle Friend

Worth the read

Reviewed in Canada 🇨🇦 on April 21, 2023

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I would not consider myself investment savvy. This book breaks down the what, why and how of our psychological interaction with money over the last 50 + years and simplifies the conversation.

I feel confident I could read this again and again and still take key elements away from it.

One person found this helpful

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redway

Wonderful book

Reviewed in Canada 🇨🇦 on April 22, 2023

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I have read many books on economics. I have developed economic ideas based on those books. This book sums it up in a very sensible way using stories and anecdotes. I found it very enjoyable and probably will read again at some point.

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Top reviews from other countries

Vikrama D.

Fantabulous

Reviewed in India 🇮🇳 on September 21, 2020

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The expectations from this book were sky high. And, does it deliver. The key lessons on optimism and pessimism and long term aside - the two things that states with me:
1. Expectations change even slower than reality. Everyone sees the world they have seen it before.
2. Everyone plays the game of investment differently. You need to define your game.

This is a fantastic book. It's not a book about investments. It is a book about your mind, and mine and how it thinks about money, savings, expenditure and investments. And, it is brilliant. Pick it up now.

503 people found this helpful

Sandeep Bhasin

Must read for young investors

Reviewed in India 🇮🇳 on September 20, 2020

Verified Purchase

This is a must read for the youngsters of today... or anyone who has still not started saving for the future. Morgan Housel beautifully communicates the idea of saving the money and how! Me, at 48, get inspired to the core to save more and spend less. He has the knack of explaining difficult stuff in such a simple language. 5 Stars from me. Take my word for it: you’ll love it!

270 people found this helpful

L. Ryan

Written just for men!

Reviewed in the United Kingdom 🇬🇧 on December 9, 2020

Verified Purchase

Nothing new here that Daniel Kahneman hasn’t said. And Clearly @morgan housel doesn’t realise 50% of the population is female. Not a single quote, case study, name or reference to women here. (Apart from snow white!) Amazing a publishing house lets this through

148 people found this helpful

Ayachi

I wish if I have read this book 20 years ago!!

Reviewed in the United Kingdom 🇬🇧 on December 11, 2020

Verified Purchase

In less than 200 pages Morgan Housel succeeded through several short stories about money and business management to provide learned lessons.
The book uses plain English, easy to read and to understand.
He exposed many myths and fake assumptions in the business world, especially the dilemma of luck vs. talent.
It is fascinating to know for example that Bill Gates studied in the only high-school in the US that by luck had a computer in 1968, one in a million chance.
The chapter 19 is like a summary of major ideas but there are some interesting ideas to think about and we may agree or disagree with it:
1. "You are one person in a game with 7 billion other people and infinite moving part", so we underestimate significantly the role of luck and world complexity.
2. "Saving is income minus ego" so be careful with your ego spending!
3 "Happiness is results minus expectations", so be careful with your expectations!
3. "Individual wealth is what you don't see, hidden" so big house, fancy car or Instagram photos are spends or debts of Individual, the visible part you see, not their wealth.
4. "Customer is always right" and "customers don't know what they want", both accepted business wisdom.
5. Napoleon’s definition of a military genius was, “The man who can do the average thing when all those around him are going crazy.”

107 people found this helpful

Okenna

An instant favourite

Reviewed in the United Kingdom 🇬🇧 on December 22, 2020

Verified Purchase

I thoroughly enjoyed reading this book. If you've been in or around finance, the wisdom contained in this book may not exactly be new to you but its still great to re-learn some of these things or at least to hear it from someone else. I'll definitely read the book again.

I've rated the book 4* and not 5* because I found a lot of the examples to be US/American focused. The world has changed. Morgan has not written with a global audience in mind or even a global perspective. This is not necessarily a bad thing if that's the intended audience, however I am not American and have only visited the country once, so I found that examples or cases from other countries might have helped a bit. Either way, a great read written in straight forward language.

29 people found this helpful

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The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness Audible Audiobook – Unabridged

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