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The $100 MBA Show

MBA2318 Must Read: The Psychology of Money by Morgan Housel

The $100 MBA Show

Omar Zenhom

Careers, Entrepreneurship, Business, Marketing

4.91.2K Ratings

🗓️ 5 June 2023

⏱️ 14 minutes

🧾️ Download transcript

Summary

Money is an emotion. While we like to think of wealth-building as a purely rational or strategic exercise, those who ignore the psychological component are at a disadvantage.

Transcript

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0:00.0

Heyo! Welcome to the $100 MBA Show, practical business Lessons You Can Count on to build your business I'm your host your coach your teacher Omar at home

0:18.0

I'm also the co-founder of Webinar Ninja an independent software company. I start with my co-founder back in 2014.

0:24.7

And today's episode is a must-read episode.

0:27.4

On our must-read episodes, I share with you a book that has influenced me as an entrepreneur.

0:31.2

I share with you as takeaways, its insights, and why you should read it too.

0:35.0

Today's must read is probably one of the best books on finance psychology I've read ever.

0:40.0

It's called The Psychology of Money, and it's written by Morgan Housel.

0:43.4

This book makes the argument that our ability to be good with money has a lot to do with what's in our

0:47.8

head and in our hearts, and not what's in our spreadsheets, formulas, or equations.

0:53.0

As a business owner, you need to be good at money.

0:56.0

You need to be good at earning it, keeping it, and having it work to your advantage.

1:01.0

And this book shows you how to do that.

1:02.0

This is one of the most practical books on managing

1:05.4

your finances, whether it's for your business or for your personal finances, because it's very

1:10.7

approachable. It has 20 short chapters and the book reads like a page turner.

1:16.4

One chapter leads to the next and it's written in a language that anybody can understand.

1:20.9

You don't need to be a finance geek to get this book. In today's

1:24.1

lesson I'm going to share with you some of my favorite takeaways. Some of the things

1:27.5

that really changed my mindset when it comes to money and how this book can really impact

1:31.6

your ability to grow not just now in your business,

1:35.0

but in the foreseeable future, five years from now, ten years from now, twenty years from now.

1:40.0

It's a total game changer.

...

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