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Where I've Found Wisdom
A friend of mine paid me a very nice compliment when he told me he'd just read a book about money that sounded a lot like my advice. Naturally, I had to get a copy of Morgan Housel's The Psychology of Money. Sure enough, I found myself nodding thoughtfully as I read along.
This is a quick and easy book to read. It's broken down into 20 lessons about money and it seems very much like a book I will read and recommend on repeat. It's a book that you can flip open and find a good nugget. For example:
People with enduring personal finance success--not necessarily those with high incomes--tend to have a propensity to not give a damn what others think about them.
So people's ability to save is more in their control than they might think.
Savings can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you. . . Money relies more on psychology than finance.
I liked this book so much that I bought a box full of copies. Want one? If you promise to read it and perhaps pass it along to a youngster who needs to learn about money, I will give you a copy. Let me know.
Perhaps my favorite line from the book is, "The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays." Maybe that's a good place to leave things until next time. Thanks for reading.
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