How we approach issues of dealing with money

• Published date: 26 April 2024
• Publication title: Cape Times, The (Cape Town, South Africa)

Morgan Housel

Loot.co.za (R279)

Harriman House

I found The Psychology of Money by Morgan Housel to be an eye-opening exploration of the connection between money and human behaviour.

Housel’s use of real-life stories to illustrate key concepts really struck a chord with me. He emphasises the importance of recognising the emotional and psychological factors that influence our financial decisions, which I found particularly insightful.

The author tries to present facts here through studies and real-life examples which is a good way to convince readers.

One of the key ideas in the book is that money is more than just numbers, it is deeply emotional.

Our feelings about money shape how we use it, whether we are aware of it or not. Understanding our own emotional relationship with money, as well as that of others, can help us make better financial choices.

Housel also challenged the traditional belief that wealth is determined solely by income. While earning a high income is helpful, he believes having financial knowledge, discipline and long-term thinking are just as important as being financially...