The Psychology of Money

“The paradox of wealth is that people tend to want it to signal to others that they should be liked and admired. But in reality those other people bypass admiring you, not because they don’t think wealth is admirable, but because they use your wealth solely as a benchmark for their own desire to be like and admired.”

This will change the way you think about money and the world’s relationship to it.

The Collaborative Fund explores the psychology of money including 20 common flaws and biases that impact how people deal with money.

They include that people develop biases anchored to their own history, are seduced by pessimism when optimism is more reasonable, and tend to be influenced by people who are playing a different financial game than they are.

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