Money: The Greatest Show On Earth
• Doing well with money has little to do with how smart you are, and a lot to do with how you behave.
• Financial success is not hard science, it’s a soft skill where how you behave is more important than what you know.
• To grasp why people bury themselves in debt, you need to study the history of greed, insecurity, and optimism.
• Not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself
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Doing well with money is not necessarily about what you know, but about how you behave. Is what Morgan Housel explores in his popular book, where he shares 19 stories that explore the behavioral aspects of personal finance.
To Note:
We are considered lazy if we ought to do something but are unwilling to do it.
Poverty is associated with psychological distress, including depression and lower mental well-being.
Employment insecurity, financial difficulty, and hardship due to a global crisis are more likely to turn people to emotional eating as a way of coping.
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