Review Of The Psychology Of Money By Morgan Housel

Up next is my review of Psychology of Money by Morgan House, my latest money topic read. This book has been well praised in social media, but how did I like it? Read on!

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About the author

Morgan Housel is a former financial columnist for The Wall Street Journal, his expertise is in behavioural finance and history.

The Psychology of Money came out in 2020, and has already sold over 2 million copies since.

Morgan has also won awards for his journalism work.

What is The Psychology of Money about

In The Psychology of Money, Morgan sets out to explore the human behaviours and reasons behind financial decision making.

The book is split into 19 chapters which contain the same amount of lessons about human behaviour when it comes to financial decisions, and each lessons has a story to illustrate the behaviour that is being discussed.

The book includes lessons titled as:

• Getting wealthy vs. Staying wealthy
• Freedom
• Reasonable > Rational
• You’ll change
• Nothing’s free

…and many more.

The Psychology of Money won’t teach you how to budget or how to invest, but it aims to give you insight into human behaviour when it comes to finances.

My review of The Psychology of Money

I had no idea what to expect when I picked up this book.

I had heard a lot of praise (which is why it was on my to-read list in the first place), so much so that I thought we were talking about a timeless classic, rather than a relatively recent book (published 2020).

Whatever I did expect, this book wasn’t it.

As mentioned above, the book is divided into chapters, or lessons, and each chapter is its own independent piece of work.

So, the book can be read in any order you’d like.

All the chapters are fairly quick to read, to the point and very insightful.

In fact, I had a lightbulb moment reading each chapter, and would not be able to pick my favourite lesson, or the most important one in my opinion.

The Psychology of Money definitely had me thinking about my relationship with money and behaviour when it comes to it, where I can improve and what things just need acceptance or acknowledgment.

This is definitely one of the best money books I’ve read so far, if not the best, and one I will come back to again and again (actually, I would quite happily re-read this one right now).

I can wholeheartedly recommend this book, it is so easy to read and full of meaningful money lessons that really matter.

You can get your own copy *here.

You can also find all my other book reviews here.