The Psychology of Money

Morgan Housel contends that doing well with money rests less on knowledge or technical skill than on behavior, patience and perspective, and that behavior is hard to teach even to very smart people. Financial decisions, he writes, are made not on spreadsheets but at dinner tables and in meeting rooms, shaped by ego, pride, odd incentives, marketing and personal history. The book is built from 19 short stories about the strange ways people think about money, with psychological biases and frequent money errors coming up along the way. It first came out in 2020.

Steven Bartlett has called it the best book on money ever written, and Andrew Huberman said he read it and loved it.