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