The Psychology of Money — Morgan Housel
(Ch. 1)

What I learned:

• Wealth is mostly what you don’t see—spending is not the same as being rich.
• Compounding works best with time and consistency, not brilliance.
• Most outcomes are driven by a few “tail” events—plan for a wide range.
• The best use of money is control over your time.
• Being reasonable beats being perfectly rational if it keeps you invested.

Action Plan:
Automate a small transfer to savings/retirement on payday.
Add one month to my emergency fund target and set a recurring transfer.
Create a “guilt-free” fun budget line to fight lifestyle creep.

Quotes:
“Spending money to show people how much money you have is the fastest way to have less money.”
“The highest form of wealth is the ability to wake up and say, ‘I can do whatever I want today.’”