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How can you become financially successful? In The Psychology of Money, finance writer Morgan Housel posits that the secret lies in understanding human behavior: When you understand the emotions and beliefs that influence your financial decisions, you make better decisions. In his book, Housel illuminates these emotions and beliefs, explaining why we make bad financial choices—and what you should do instead.
Morgan Housel is an award-winning finance writer and former finance columnist at The Motley Fool and The Wall Street Journal. He is also a partner at The Collaborative Fund, a venture capital firm specializing in technology.
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Publisher: Harriman House
Published in 2020, The Psychology of Money is Housel’s third and most popular book. It differs from his previous book because it is full of new and original insights: His first book, *Everyone Believes It; Most Will Be Wrong,* is a collection of previously published essays, while his second, book, 50 Years in the Making: The Great Recession and Its Aftermath, is a collection of interviews with other financial experts. That said, The Psychology of Money is based on Housel’s viral 2018 blog post with the same name.
Housel focuses on sharing timeless truths about wealth. So in some ways, The Psychology of Money acts as a synthesis of some of the best personal finance wisdom shared through the decades—from 1996’s *The Millionaire Next Door* to 2012’s Antifragile. But unlike other personal finance books, Housel presents almost no equations or specific strategies. Rather, he focuses on presenting the broad principles you need to understand to gain wealth.