We, common people think that Money management is all about mathematical calculations hence ,difficult to interprete data but in reality financial decisions are based on emotions/behaviour,fear,greed,ego etc.
The Psychology of Money tells us how to live a peaceful and balanced life with money. This book is an inspiring read and gives us a new dimension to our financial outlook with respect to emotions, upbringing, past experiences with money.
Simple and easy to understand narration by an author. Day to day life experience makes it relatable.
Who can read-Everyone- whether a beginner in financial market or an experienced investor.
Also for people looking to understand why & how they make the financial choices they do.
Important points-
1. Finance has no direct relation with intelligence, It is more about behavioural trend of a human. Even an intelligent person can make wrong financial decisions.
2. Experience is the best “GURU” in taking financial decision.
3. While Investing hard earned money, Patience and consistency are the keys to have real big profits and "Compounding" is the most powerful process of wealth creation.
4. Luck is part of success and uncontrolled risks can result in failure.so don’t fall in the trap of other’s success /failures.
5. Follow simple and sustainable practices, and avoid complicated financial decisions.
ALso If someone is looking for real financial advice or investment plans from this book, this book might not meet their expectations, but for sure it will give different vision to look after your money.
You might get bored in between as some concepts are repeated but you can skip and move on to next lines.Afterall it’s all about MONEY and though Money is not everything but an important element of LIFE.
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