10 Top Lessons From The Book "Psychology of Money"
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1. Money Decisions โ
Every decision is based on the information available at the time
and incorporating it into our individual mental image of the universe.
โThe world is full of obvious things which nobody by any chance observesโ โ Sherlock Holmes.
Every decision is based on the information available at the time
and incorporating it into our individual mental image of the universe.
โThe world is full of obvious things which nobody by any chance observesโ โ Sherlock Holmes.
2. Choose your admirers and praisers carefully โ
Be wary of who you despise and want to avoid becoming.
We only see the headlines and think we can do it too.
Be wary of who you despise and want to avoid becoming.
We only see the headlines and think we can do it too.
3. Having Enough โ
One of the most challenging financial skill in the world is to get the goal post to stop moving, it is evident in our consumer-driven lifestyles.
Capitalistic system makes it simple to feel good with the latest gadget or item, and u have to keep getting them
One of the most challenging financial skill in the world is to get the goal post to stop moving, it is evident in our consumer-driven lifestyles.
Capitalistic system makes it simple to feel good with the latest gadget or item, and u have to keep getting them
4. The concept of compound interest โ
Warren Buffett's investment performance is frequently mentioned throughout the book, as he has been investing for decades.
Allow your money to multiply naturally while staying out of the way.
Warren Buffett's investment performance is frequently mentioned throughout the book, as he has been investing for decades.
Allow your money to multiply naturally while staying out of the way.
5. Planning is necessary, but... โ
the most important aspect of any plan is to plan on a plan rather than going according to plan.
Plan for the best case scenario, but be prepared for the worst.
the most important aspect of any plan is to plan on a plan rather than going according to plan.
Plan for the best case scenario, but be prepared for the worst.
6. You can be wrong half the time and still make a fortune โ
โHereโs the thing about luckโฆyou donโt know if itโs good or bad until you have some perspective.โ โ Alice Hoffman
You should Play the long game in finances.
โHereโs the thing about luckโฆyou donโt know if itโs good or bad until you have some perspective.โ โ Alice Hoffman
You should Play the long game in finances.
7. The biggest return on investment is time management โ
Money's essential value is its power to provide you with control over your time.
You have more control over what you can do and when you can do it if you have unspent funds.
Money's essential value is its power to provide you with control over your time.
You have more control over what you can do and when you can do it if you have unspent funds.
8. Raise your humility โ
One of the most effective ways to increase your savings is to raise your humility rather than your income.
Taking my ego out of my decisions in the future will be smarter, especially if it leads to the achievement of a long-term goal.
One of the most effective ways to increase your savings is to raise your humility rather than your income.
Taking my ego out of my decisions in the future will be smarter, especially if it leads to the achievement of a long-term goal.
9. True wealth is what you donโt see โ
Modern capitalism makes helping people fake until they make it a cherished industry.
Be more concerned with what they did to earn the wealth and see how I can apply those principles.
Modern capitalism makes helping people fake until they make it a cherished industry.
Be more concerned with what they did to earn the wealth and see how I can apply those principles.
10. Everything that can break will eventually break โ
If you have only one source of income right now, you are looking at catastrophe.
So an important lesson as we advance is to diversify your income streams and your skillset ASAP.
If you have only one source of income right now, you are looking at catastrophe.
So an important lesson as we advance is to diversify your income streams and your skillset ASAP.
Are you feeling stuck and need some extra push to reach your goals?
In 90 days, the book "Live Intentionally" will change your:
- habits
- mindset
- daily routine
8500+ Lives changed, and I am one of them.
Take the challenge now:
gumroad.com
In 90 days, the book "Live Intentionally" will change your:
- habits
- mindset
- daily routine
8500+ Lives changed, and I am one of them.
Take the challenge now:
gumroad.com
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Thanks for reading โค๏ธ
โข Follow us on Twitter:
@overmind01
I created this account to:
- Inspire you
- Encourage you
- Help you advance in life
Thanks for reading โค๏ธ
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