The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Morgan Housel
Top 10 Best Quotes
“Some people are born into families that encourage education; others are against it. Some are born into flourishing economies encouraging of entrepreneurship; others are born into war and destitution. I want you to be successful, and I want you to earn it. But realize that 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.”
“Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time.”
“Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what you want, when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance.”
“Napoleon’s definition of a military genius was, “The man who can do the average thing when all those around him are going crazy.”
“Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.”
“doing something you love on a schedule you can’t control can feel the same as doing something you hate.”
“I love Voltaire’s observation that “History never repeats itself; man always does.”
“Less ego, more wealth. Saving money is the gap between your ego and your income, and wealth is what you don’t see. So wealth is created by suppressing what you could buy today in order to have more stuff or more options in the future. No matter how much you earn, you will never build wealth unless you can put a lid on how much fun you can have with your money right now, today.”
“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.”
“Using your money to buy time and options has a lifestyle benefit few luxury goods can compete with.”
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