MY VIEWS ON THE PSYCHOLOGY OF MONEY BOOK

 I finished reading this book called “The Psychology of Money” which was written by Morgan Housel, in the month April 2023.

 

Today I will discuss the merits and demerits of this book in my view after reading this complete book are given below.

 

About this book:

Book name:

The Psychology of Money

Author:

Morgan Housel

Published by:

Jaico Publishing House

Originally published in UK by:

Harriman House LTD in the year 2020

Printed by:

Chandra Prabha Publications Pvt. Ltd

Total Pages: 242

Highlights of This Book – Timeless lessons on wealth, Greed and Happiness.

Contents in the book:

Introduction: the greatest show on earth

• No one’s crazy
• Luck and risk
• Never Enough
• Confounding Compounding
• Getting wealth Vs. staying wealthy
• Tails, you win
• Freedom
• Man in the car paradox
• Wealth is what you don’t see
• Save money
• Reasonable > Rational
• Surprise!
• Room of error
• You’ll change
• Nothing’s free
• You & Me
• The seduction of pessimism
• When you’ll believe anything
• All the together now
• Confessions

Postscript: A Brief history of why the US consumer think the way they do

Endnotes

Acknowledgements.

Best Impressions pages which I liked in this book:

Page numbers: 3, 4, 41, 42, 97, 98, 99, 193, 209, 236

Merits of this book:

• Some points in this book made me to read lines again and again, also thinking about money like rich vs poor from an investment money point of view.
• Morgan Housel mentioned many stories in this book that every student should read.
• The writing style of this book is very easy to understand and very comfortable to read. 

Demerits of this book:

• In the whole book - Number 1 is printed as the Roman number I like 1960 is printed as I960, 1931 is printed as I93I, etc.
• Morgan Housel explained more about stock market competition and who win/loss.

Conclusion:

I am a reader from India. Morgan Housel thoughts are very good but there are a lot of richest people present in the world who have not invested money in the stock market, they have invested money in other ways. This point should be noted.

My ratings of this book: 3.9/5

Thank you for reading and viewing!

Maddali Laxmi Swetha, MBA (HR)

 

Email ID: Maddali_swetha@yahoo.com

 

My Quora: https://www.quora.com/profile/Maddali-Swetha

 

My LinkedIn: https://www.linkedin.com/in/maddali-swetha-a0a424a6

 

My SlideShare Papers: https://www.slideshare.net/MaddaliSwetha 

 

My Blog (Maddali Swetha Blog): http://maddaliswetha.blogspot.com/

 

My Other Blog:

(Deccan Vysya Patrika – Since 1937) - http://deccanvysya.blogspot.com/  

 

My YouTube channel - Maddali Laxmi Swetha:

https://www.youtube.com/user/maddaliswetha

 

My other YouTube channel - Maddali Swetha Teaching classes:

https://www.youtube.com/channel/UCFePmygQP7vsTzeecSfrMvw

Speaking Tree Blog: https://timesofindia.speakingtree.in/maddali-swetha/blogs

 

Also, you can find in Amazon:

My name was included in a book called - Student Leaders: Growing from Students to CEO’s and the first copy of this book is dedicated to me. - https://tinyurl.com/y2sp7yl4

MY VIEWS ON RICH DAD AND POOR DAD BOOK

 I have been waiting to know about this book called - Rich Dad Poor Dad Book was written by Robert T Kiyosaki.

 

The style of writing of this book I didn’t understand. So, I waited for another way to read this book. One of my friends helped me to find this book on the Internet.

 

He has downloaded KukuFM Radio App from Google Play Store and created a user account on my mobile phone. I have listened to this audio book in Telugu language of summary part of every chapter in this book. 

 

I liked the 7^th chapter in this book which the author mentioned about Balance Sheet (How to increase Assets and decrease Liabilities) and Tax (How tax plays a major role?).

 

Everyone was saying this book is wonderful but I felt a bit disappointed because the same topics were repeated so many times in this book.

 

My rating for this book is 3.2/5

 

Thank you for reading and viewing!

Maddali Laxmi Swetha, MBA (HR)

 

Email ID: Maddali_swetha@yahoo.com

 

My Quora: https://www.quora.com/profile/Maddali-Swetha

 

My LinkedIn: https://www.linkedin.com/in/maddali-swetha-a0a424a6

 

My SlideShare Papers: https://www.slideshare.net/MaddaliSwetha 

 

My Blog (Maddali Swetha Blog): http://maddaliswetha.blogspot.com/

 

My Other Blog:

(Deccan Vysya Patrika – Since 1937) - http://deccanvysya.blogspot.com/ 

 

My YouTube channel - Maddali Laxmi Swetha:

https://www.youtube.com/user/maddaliswetha

 

My other YouTube channel - Maddali Swetha Teaching classes:

https://www.youtube.com/channel/UCFePmygQP7vsTzeecSfrMvw

Speaking Tree Blog: https://timesofindia.speakingtree.in/maddali-swetha/blogs

 

Also, you can find in Amazon:

My name was included in a book called - Student Leaders: Growing from Students to CEO’s and the first copy of this book is dedicated to me. - https://tinyurl.com/y2sp7yl4

INCREASING COST OF LIVING IN INDIA – Year 2023

Hai, welcome to my blog (Maddali Swetha blog). Today my topic is to discuss about cost of living in India of the year 2023 where I live in Hyderabad, India.

Before coronavirus the cost of living is little bit less where middle class people can afford in India but after corona days things have been different.

Now, the question is here – How is the cost of living is different? Which was raised in my mind. At First See the image below:

The above image was taken from Eenadu Newspaper (Telugu language) and this graph is published in today’s article printed in the main page – main headlines.

In this graph 9 food groceries items were listed with cost. Those are:

1. Rice – 1kg,
2. Red Gram (Kandipappu) - 1kg,
3. Cooking oil – 1 litre,
4. Salt – 1kg,
5. Sugar – 1kg,
6. Milk – ½ litre,
7. Tea powder – 250 grams,
8. Red chili powder – ½ kg,
9. Tamarind (Cintapandu) – 1kg.

Before corona time I used to take 500 rupees and buy these items.

 

And The cost of these items were 651 rupees in the year 2020(corona time) and the cost of these items were increased to 1051 rupees in the year 2023.

Here, if you minus 1051 – 651 = 400. So, 400 rupees were increased in the year 2023.

The major point here is that the tea price cost  in the year 2020 was 120 rupees and in the year 2023 it has increased to 250 rupees. If you minus 250 – 120 = 130. Here 130 rupees were increased. (Note: In India, most of the people day starts with tea)

My conclusion:

You tell me - for 500 rupees will you get all these 9 food items? The Cost of living has increased and food prices have increased where middle-class people can’t effort to buy these items for 500 rupees.  

Now I should carry 1000 rupees in my pocket to buy these necessary food items for daily use.

Thank you for reading this. Do comment below about your views on cost of living in the year 2023 as compared to the year 2020.

Maddali Laxmi Swetha, MBA (HR)

Email ID: Maddali_swetha@yahoo.com

 

My Quora: https://www.quora.com/profile/Maddali-Swetha

 

My LinkedIn: https://www.linkedin.com/in/maddali-swetha-a0a424a6

 

My SlideShare Papers: https://www.slideshare.net/MaddaliSwetha 

 

My Blog (Maddali Swetha Blog): http://maddaliswetha.blogspot.com/

 

My Other Blog:

(Deccan Vysya Patrika – Since 1937) - http://deccanvysya.blogspot.com/  

 

My YouTube channel - Maddali Laxmi Swetha:

https://www.youtube.com/user/maddaliswetha

 

My other YouTube channel - Maddali Swetha Teaching classes:

https://www.youtube.com/channel/UCFePmygQP7vsTzeecSfrMvw

Speaking Tree Blog: https://timesofindia.speakingtree.in/maddali-swetha/blogs

 

Also, you can find in Amazon:

My name was included in a book called - Student Leaders: Growing from Students to CEO’s and the first copy of this book is dedicated to me. - https://tinyurl.com/y2sp7yl4