Top 10 Lessons learned From the Book: Mind Over Money

Top 10 Lessons learned From the Book: Mind Over Money

1. Rationality

Even if you think you’re generally good at thinking and choosing rationally, that all falls apart when it comes to budgeting and spending.

2. Be patient

Don’t get discouraged though, because these beliefs and habits have taken you years to develop, which means that it will take some time to fix them.

3. Childhood

As a child, you were financially socialized just by the adults around you, which built the complicated connections you have with money today.

4. Strong Beliefs

Your beliefs about money are strong because you began developing them when you were really young.

Research shows that children at least as young as six already know about the importance of money!

5. Social Status

Research confirms that young people also understand how money affects social status.

6. You struggle NOT because you’re a terrible person.

It’s hard because nobody’s taught you the right way to manage your finances.

7. Your motivation at work can actually suffer because of money.

It’s been shown that extra money, when received as a surprise, increases motivation.

But don’t overdo it and make it the norm or the effects will wear off!

8. More Money?

More money might make you happier, but after a certain amount the extra income doesn’t make any difference.

That’s not to say that money isn’t important to happiness, however.

9. Satisfaction

If you were to stay in a nice hotel just once, for example, you’d love it and savor the experience.

But when you suddenly have enough cash to do so every weekend, it becomes normal and you need to constantly seek bigger pleasures to keep feeling satisfied.

10. Being financially stable is a critical component of staying physically and mentally healthy, but once you have enough, more money won’t make you happier or healthier.

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