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Your personal experiences shape your financial beliefs from "summary" of The Psychology of Money by Morgan Housel
Everyone's financial beliefs are shaped by the experiences they have had throughout their lives. These experiences can range from growing up in a household where money was always tight to hitting it big in the stock market. Whatever the case may be, these personal experiences play a significant role in determining how we view and manage our finances. For example, someone who grew up in a household where money was scarce may develop a frugal mindset when it comes to spending and saving. They may be more inclined to save every penny they earn and avoid taking on unnecessary debt. On the other hand, someone who has had success in the stock market may have a more risk-tolerant attitude towards investing and be more willing to take chances with their money. These p...
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