The Psychology of Money (Vitamin "M")

The Psychology of Money  

Vitamin "M" :-Most Important Things In this world according to my observation till now that is Vitamin "M " 

I know you all are aware about a lots of vitamin like A,B,E,.....but I am here to talking about that most important vitamin without this  all vitamin are use less  so what is that ?that is Vitamin M (money)

so here I just completed  a Book "The Psychology of Money " written By 'James Clear ' in which what I learnt some key point  of this book. I will  discuss with you all that why you can save your time no need to read all book so I m here to save your time lets go through that summary of the book 

1-Go out of your way to Find humility when things are going right and forgiveness/compassion when they go wrong :-

Because its never as good or as bad as it looks .The world is big enough to understand and learns so luck and risk both are hard to identify .Respect the power of  both risk and Luck and you shall have a better chance to focusing on things you can actually control

2- Less Ego More Wealth:-

saving is the gap between your ego and your income ,and wealth is what you don't see.so wealth is created by suppressing what you could buy today in order to have more option in the future.

3-Manage your money in a way that helps you sleep at night :-

Here two types of people both are getting good higher return on their invested money but one people sleep at night better than other that because both are getting their return different way so ,you decide which types of return you want that only gives you higher return or also give better sleep. 

4:-If you want to do better as an investor ,the single most powerful things you can do is increase you time horizon:-

Its means you Invest for a long time that gives  you higher return because what I learnt in this book most investor who will get higher huge  return that all are long term investor not for short that main reason .

5-Become OK with a lots of things going wrong. You can be wrong half the time and still make a fortune .

Its reality if you are invested in many company so most of the gives you losses but few gives higher return that cover all you losses so do not worry about that focus on which give you higher return and you will see after some time that all non profitable company gives you better 

Eg-You can take any successful sport person or political leader actors from any filled that person most time getting loss or failed many time as compare to success .

6-Use money to gain control over time :-

Always give more priority to Time as compare to Money because you can't buy the Time because you time is such a powerful and universal drag on happiness.

7-Be Nicer and Less Flashy:-

No one is impresses with your possessions as much as you are .you might think you want a fancy car or nice watch ,but what you probably want is respect and admiration. and you are more likely to gain those things through Kindness and Humility.

8-Save .Just save. you don't need a specific reason  to save :-

There is no reason to tell you why you need to save money you just  understand life is full of adventures and suspense like roller coast so in one two words "Just Save"

9-Define the cost Of Success and be ready to pay it:-

Today fast growing world everyone try to achieve any things soon so what I observed first decide what you want ,what is the cost of that first prepare your mind to have patience and ready to pay that cost because every huge success wants their price so ready to pay the price of that success.

10-Worship  room for error :-

a gap between what could happen in the future and what you need to happen in the future  in order do well is  what gives you endurance, and endurance is what makes compounding magic over time .room for error often looks like a conservative hedge, but if it keeps you in the game it can pay for itself many time over .

11-Avoid the extreme ends of financial decisions:-

Goals ,Desire and will change over the the time and more extreme your past decisions were the more you may regret them as you evolve 

12-You Should Like risk because it pays off over time :-

it will prevent you future risk whatever you got in past experience and it can also give you profit over time so like your risk also 

13-Define the Game you are playing :-

Makes sure your actions are not being influenced by people, playing a difference  game. 

14-Respect The Mess:-

Smart ,informed and reasonable people can disagree in financed ,because people have vastly goals and desire .there is no single right answer; just the answer that work for you .

Conclusion:-According This book or many books which I have read till now what I learnt that is  "Whatever you will get that all return legally without any unethical activity then  you can sleep better and for long time that will gives you  higher return " 

                                                                                                                                                      BY HPY