4 Insights from “The Psychology of Money”

Can we all agree that finance is a huge part of life?

The way we make or break our finances heavily relies on our attitude towards money, which is rather emotional. So, here’s some tips from “The Psychology of Money” to help you make better judgments!

Accepting that enough is enough.

Realize that as humans, we are bound to always feel dissatisfied. Don’t dwell on feeling ‘less than’. There is no reason to risk what you have and need, for what you don’t have and need. 

Never underestimate luck.

Stop focusing on how rich people are making their money. A lot of complex factors are playing into the outcome of your finances. You are unique. Different paths, different times, different results.

Prioritize your savings.

Some of us were indeed born with financial privilege, but some of us weren’t. Whoever you are now, whatever you do, always be ready to save up and invest. 

Spare some money for emergencies!

People forget how to stay wealthy.

In getting rich, you will need to let go of fear, be optimistic, and embrace the risks. But to stay rich, being frugal with a dash of pessimism of the future definitely helps!

Prepare for the worst and avoid splurging all the time!