Book Review: The Psychology of Money by Morgan Housel - Lessons That Changed My Mindset About Money
Why I Picked Up The Psychology of Money
I have lived in America all my life, and if there’s one thing I know, it’s that America thrives on glitz and glam. I grew up with my needs met, but there was always this underlying narrative about image and appearances.
When I found myself under toxic leadership, money became a major focal point. Image was everything. And if you even thought with a “lack mentality,” like budgeting, it was seen as a problem because you clearly lacked faith.
When I finally broke free from that, the residue of those teachings and the culture around me stayed with me. That’s when someone referred me to The Psychology of Money.
The Gap Between Knowing and Doing
Here’s the truth: I knew what I should be doing with my money, but there was a gap between what I knew and what I instinctively did the moment I had some in my hands.
This book changed my perspective because it went deeper than tips, budget tricks, or side hustle ideas—which are all good things, by the way. But if we try to build on a faulty foundation in our minds, it’s only a matter of time before things fall apart. You’ll find yourself right back where you started: living paycheck to paycheck, looking like you have it all together, but knowing that missing just $5 could break you.
Shifting Your Financial Mindset
Confronting questions like Who are you trying to impress? or Why are you really spending that money?made me stop and analyze my habits in a new way.
As we grow into the fullest version of ourselves, the first thing we must tackle is our mindset.
Knowing we’re enough.
Believing we can do it.
Being confident in the skills we already have.
Money is no different. We’re often told what to do with our finances, but to follow through consistently, we first have to shift our mindset about money.
Why This Book Stands Out
The Psychology of Money goes beyond financial advice—it challenges you to think deeply about your relationship with money, wealth, and values.
If you’re open, ready, and willing to do the work, this book is transformative. I’ve added it to my personal library and know I’ll be revisiting it often.
Key Lessons I Took Away
Recognize the gap between what you know and what you do.
Question your spending motives: who are you trying to impress?
Focus on building a strong financial mindset before chasing methods.
Small behavioral shifts compound into lasting change.
Your Turn: Share Your Thoughts
Have you read The Psychology of Money? Which lesson stood out most to you? What challenged you the most?
Share your thoughts in the comments below—I’d love to connect.
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