Book Review of The Psychology of Money
"The highest form of wealth is the ability to wake up every morning and say, "I can do whatever I want today."
My favorite way to consume books is via word of mouth recommendations. If a friend I trust liked it, there’s a good likelihood it’ll mean something to me too. So in an effort to pay that forward for someone else, the Book Review series was born. These will be short, sweet, synopsis-focused & impact-oriented where I’ll also make suggestions on who I think would enjoy them, but ultimately you can decide for yourself. Also, as a fellow author - please note that my critiques are NOT toward the author themself EVER, and I admire & respect the work always. Healthy authors are able to recognize that their work isn’t for everyone (oh, I’ve learned this the hard way so many times), so my hope is my words help their work get one step closer to landing in the hands of the people it IS meant for.
MY HONEST REVIEW
It’s rare that I devour a non-fiction, self-help/personal development type book in a quick amount of time. This was not the case with The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. When I was about 1/3 of the way through, I had already texted it to a couple of business friends who I thought would enjoy it - that’s the sign to me of a good, captivating, book!
The author broke the book into 20 bitesize chapters, each that could be read outside of the other, so it almost felt like you were getting 20 mini podcast episodes in written format, around the psychology of money. He shares all kinds of stories about patterns of the wealthy, with one of the primary key ideas being “Getting money is one thing. Keeping it is another” - which is where the psychology comes in. With chapter titles like “No One’s Crazy, Wealth is What You Don’t See, & Nothing’s Free” - you’re pulled in right away, & makes for a fast rhythm of the book.
Fascinating stuff if you’re into business, finance, and human behavior.
Overall, highly recommend this book. Quick, easy, read that causes you to really reflect on your relationship with money, and how that plays into your current circumstances and future hopes.
NOTEWORTHY QUOTABLES
“The line between bold and reckless can be thin.” - pg.32
“People who have control over their time, tend to be happier in life.” - pg 32-33
“Getting money and keeping money are two different skills.” -pg. 59
“The highest form of wealth is the ability to wake up every morning and say, ‘I can do whatever I want today.” -pg. 83
“More than your salary. More than the size of your house. More than the prestige of your job. Control over doing what you want, when you want to, with the people you want to, is the broadest lifestyle variable that makes people happy. Money’s greatest intrinsic value - and this can’t be overstated - is its ability to give you control over your time.” -pg. 84
“You have to survive to succeed…The ability to do what you want, when you want, for as long as you want, has an infinite ROI.” -pg. 143
“Every job looks easy when you’re not the one doing it because the challenges faced by someone in the arena are often invisible to those in the crowd.” - pg. 158
To check out Morgan Housel’s book, The Psychology of Money - you can support both him and me by clicking this link.