Diaundra's TL;DR - The Psychology of Money š¤
What I learned reading 'The Psychology of Money' by Morgan Housel
Book takeawaysĀ
Define āwhat is enough?ā If you do not, the goal post will always be moving and you will never be satisfiedĀ
āSaving money is the gap between your ego and your income.ā Wealth is created by suppressing what you could buy today in order to have more OPTIONS in the future. (Being rich = owning things. Wealth = owning options)Ā
The key to happiness is owning your time. Use $ to gain control over your lifeĀ
Save for a Margin of Safety - āThe most important part of every plan is to plan on the plan not going according to planāĀ
Define the game YOU are playing & make sure your actions are not being influenced by people playing a different gameĀ
My thoughts: QUALITY > quantity. American consumerism is flawed. Do not buy more, buy betterĀ
Hereās the link if you wanna cop. For more follow me on IG or TikTok. Till next time, be blessed. š
With love,
Diaundra
Nice. The book is an awesome read. I had created a visually simplified version of the book some time back and will be posting it soon. Waiting for my copy of the Housel's latest book - Same as Ever.