10 Money Rules

Insights from the Psychology of Money
  1. Good Investing is not necessarily about making good decisions. It's about consistently not screwing up
  2. Spending money to show people how much money you have is the fastest way to have less money.
  3. Control over doing what you want, when you want to, with the people you want to, is the broadest lifestyle variable that makes people happy.
  4. Building wealth has little to do with your income or investment returns, and lots to do with your savings rate.
  5. Less ego, more wealth. Saving money is the gap between your ego and your income, and wealth is what you don’t see.
  6. The most important part of every plan is planning on your plan not going according to plan.
  7. Beware taking financial cues from people playing a different game than you are.
  8. Be careful and who you praise and admire. Be careful who you look down upon and wish to avoid becoming.
  9. Controlling your time is the highest dividend money pays
  10. Long-term planning is harder than it seems because people’s goals and desires change over time.
Added by Gabi