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Achieving financial success does not solely depend on knowledge. The topic at hand pertains to one's conduct and demeanor. Teaching behavior can be challenging, even when working with knowledgeable individuals. Money, encompassing investing, personal finance, and business decisions, is commonly approached quantitatively, relying on mathematical principles. This approach emphasizes using data and formulas to guide our decision-making process. However, it is important to note that individuals typically do not base their financial decisions solely on spreadsheet calculations in practical scenarios. Decisions are often formulated during formal gatherings such as dining tables or meeting rooms, where a confluence of factors, including personal experiences, individual perspectives, self-importance, promotional efforts, and unconventional motivations, intertwine.
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The Concise Psychology of Money, Morgan Housel
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- 2023
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