Lessons from 'The Psychology Of money'

Hello, I recently completed a book called ' The Psychology of money '  today in this blog, i am going to share a important lesson which is helpful, in this 21st century. 

I think If i had not get that book, i would have wasted too much money. 

Let Us Begin,

 So, i will talk about lesson which is in chapter 8 ' Man in the car paradox.

Here author Morgan Housel explains how we waste our wealth or money to show off which directly affect our wealth. 

let understand from an example which is given in this book but in my words.

Many people waste their money to show there richness.ex You need a car not much expensive average  car, but you saw expensive car of your relative or other, and that change your mind From Need To Show off . 

Then you buy a very luxury car, you have money which you have  build on your hard work , intelligence etc.  Now you have beautiful expensive car, which you had buy by thinking that it will create respect for you .

But, the things happens opposite of it . when you show your car to others they will say, Wow what a car it is ! Then will not say how hard worker you are that you are able to buy this car . 

So, why you are wasting money for these people who will look at your car not you success. This is what you have to understand. Many once buy expensive Watches, Shoes, and many more, to show your wealth, which will be the reason for reducing your wealth. 

This is what author want t conclude about not to waste your money for others. 

I recommend You to read this book. And you will get more lessons.

 

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All the Quotes are written by myself , And the knowledge that i share here ,some of it is based on my reading.Do not copy my Quote or content , in case of using my Quote my name should be provided.