The Psychology of Money

Outline

The Psychology of Money (2020) explores the strange ways people think about money and how those thoughts shape their decisions. Through short, memorable stories, from a caretaker who quietly left millions to a top executive who lost everything for more, Morgan Housel shows how luck, risk, envy and patience matter more than formulas. The book has sold millions of copies and been translated into dozens of languages.

• How you behave with money matters more than how intelligent you are when it comes to building lasting wealth.
• People think about money in strange ways, and those thoughts quietly shape the financial decisions they make.
• Short, memorable stories show that luck, risk, envy and patience often matter more than formulas.
• A caretaker who quietly left millions and an executive who lost everything for more show opposite attitudes to money.

Morgan Housel is an American writer and a partner at the venture capital firm Collaborative Fund. He was previously a columnist at The Motley Fool and The Wall Street Journal, and has won several awards for his financial writing. His other books include Same as Ever and The Art of Spending Money.