Audio available in app
Doing no harm is more important than doing good from "summary" of The Psychology of Money by Morgan Housel
One of the most powerful principles in life is the idea that doing no harm is more important than doing good. This concept may seem counterintuitive at first, as we are often taught to prioritize actions that create positive outcomes. However, the reality is that avoiding mistakes and preventing harm can have a greater impact on our overall well-being. When it comes to managing money, the importance of this principle becomes even more apparent. Making sound financial decisions is not just about seeking high returns or making impressive gains. It is equally, if not more, important to avoid costly mistakes and risks that can set us back significantly. In the world of investing, for example, the focus should ...
Similar Posts
Seek support from mentors or financial advisors
When it comes to managing your money, seeking support from mentors or financial advisors can be incredibly beneficial. These in...
Keep track of your expenses
Keeping track of your expenses is a crucial step in achieving financial stability. By meticulously recording every purchase you...
Be disciplined and patient in your financial pursuits
To succeed in your financial pursuits, one must exercise discipline and patience. These two virtues are essential for achieving...
Take action every day towards your goals
One of the key principles for achieving success is consistently taking action towards your goals every day. This means making a...
Be proactive in seeking out opportunities
The key to success, as emphasized in the book, is to be proactive in seeking out opportunities. This means taking the initiativ...
Have a plan for managing financial hardship
In turbulent financial times, it is crucial to have a well-thought-out plan for managing potential hardships. This plan should ...
Be prepared for unexpected expenses
Life is full of surprises. And not always the good kind. You know, the kind that leaves you saying, "Well, shit." Like when you...
Psychological biases can hinder wealth accumulation
Psychological biases play a significant role in hindering individuals from accumulating wealth. These biases can lead to poor f...
Unlocking the secrets of manifestation
Manifestation is a powerful force that lies within each and every one of us. It is the ability to bring our desires into realit...
Tracking expenses is crucial for managing a budget and controlling spending
To understand the concept of tracking expenses in managing a budget and controlling spending, one must first acknowledge the im...