Summary of the book “The Psychology of Money” by Morgan Housel

First of all, I'd like to remark that the author Morgan Housel explores the intersection of psychology and financial
decision-making in his book '’The Psychology of Money. How our thoughts and emotions impact the way we handle money
and why people do certain things, react, reach, and lose. The author tries to explain it. He explains that no one is crazy about
success and failure and the way we use money, luck, and risk, and much more advice and examples from his life are
explained in the first five chapters.
In the first chapter, the author explains how differently we react to and deal with the money we have just because of the
place we live, the time we were born, the size of the family, traditions, culture, and so on. It is useless to blame other people
for their behaviour with money. You might know something about money that others don't, and vice versa. So equally smart
people can disagree about how and why recession happens. Every decision people make with money is based on the
information that they have now and on how we perceive the world. Money has been around for a long time. We are not
crazy. We all make different money moves because we are still figuring things out. What looks crazy to you might make
sense to me.…