Psychology of Money-By Morgan Housel

 Psychology of Money-By MORGAN HOUSEL 

INTRODUCTION

Great scholars and writers always state a idiom that "Everyone and everybody born in this earth has a purpose",which means every living and non-living entity has a purpose and to find that purpose process is called Psychology.For example:-A chair has the psychology purpose to offer a seat to everyone without any discrimination.                Likewise in the above money has the psychology to maintain the goodwill of wealth and even the status of a person and the process of understanding the concept of maintenance of its goodwill as weath is called "Psychology of Money."which is perfectly explain by Morgan Housel in the book mentioned with 16 short stories and we discuss that in the form of vital points below let's start:-

1)No One's Crazy:-In this today's scenario competition makes a life race or filled with struggle where earning money is on the top of the list.Successful entity Jackie Chan in an interview stated that"Let the Oscar comes to you nor you come to Oscar" which means let make your identity like that things attracted towards you nor you attract to the things like a slave." In this first topic we discuss that under psychology no one is crazy,as different people have different mindset.Let us take a simple example:-A song get 44% of dislikes and 56% of people likes the song.Thus the 44% people who dislikes the song can't be categorised as crazy as they have their own opinions regarding to that song which we can't change and this rule is also applicable to 56% of people who liked that song.                                                                               As same in the context of money, earning individuals,struggling identities,poor people and even well equipped people associated with money terms are all together be honoured as they all faces different life experiences in regarding of money which holds the title of the book "Psychology of Money" or mindset of people regarding money.    

2) Luck and Risk:-Luck and risk are the head and tail of a coin which everyone has to face even a student,career-wondering, businessman or investors,in short no one can save himself from this game and it is played by life without any discrimination.For example:-Bill Gates have the motive to design a software Microsoft and during his childhood days he also faces the both faces of luck and risk where risk is the soul of the luck and there are 2 ways to play in this game of luck and risk which are:-

1)Be careful who you praise and admire.Be careful who you look down upon and wish to avoid becoming:-In this first part,a best line said by Mr Deep Trivedi in its lecture on bhagwad Gita inspires me that"Anything what you want to do but you stops yourself by others advice is not appropriate and you do anything which is not consent with your mind but you have to do with some reason is not good. under psychology  and also defines in bhagwad Gita very clear and this fact is also write in the above heading.Thus, do everything with the consent of your mind nor with the calculations of brain or at the advice of others as your mind is the software of your soul and knows better than others.         

2)Focus less on specific individuals and case studies and more on broad patterns:- In this case written here it's is vital for us to do research in life and don't focus on a particular thing as different people have different life views about success and money and on various fields and it is  our duty to do research before take admission in school,college,share market,career and even on psychological treatment and various aspects of life as it gives us a classified points of views and we can easily choose that view which is reliable and beneficial for us in lifetime.Let us take an example of my life,during my depression period.I hear different motivational speakers like Sandeep Maheshwari,Sonu Sharma, Surekha Bhargava etc .I like all of them but at the one click when I scroll the youtube I accidentally click on the first lecture of Mr.Deep Trivedi on bhagwad gita and finally get a best life investor of my life in psychological terms.Thus in life also research is also mandatory and you will definitely get a best investment in life if you do not lose hope.