{"id":1361,"date":"2021-11-26T12:16:07","date_gmt":"2021-11-26T04:16:07","guid":{"rendered":"https:\/\/damakey.com\/?p=1361"},"modified":"2023-05-25T17:29:34","modified_gmt":"2023-05-25T09:29:34","slug":"the-psychology-of-money","status":"publish","type":"post","link":"https:\/\/damakey.com\/?p=1361","title":{"rendered":"The Psychology of Money"},"content":{"rendered":"

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How to make better financial decisions?<\/span><\/p>\n

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  1. Respect the power of luck and risk. Go out of your way to find humility when things are going right and forgive\/compassion when they go wrong.<\/span><\/li>\n
  2. Less ego, more wealth. Wealth is created by suppressing what you can buy today.<\/span><\/li>\n
  3. Manage your money in a way that helps you sleep at night. Take the risk and premium that you feel comfortable<\/span><\/li>\n
  4. Increase your investment time horizon to make little things big and big mistakes fade away. Investment requires patience.<\/span><\/li>\n
  5. Measure the performance by your full portfolio, rather than individual investments.<\/span><\/li>\n
  6. Use money to gain control over your time. The ability to do what to do , when you want, with who you want, for as long as you want to,  <\/span>pay the highest dividends that exists in finance.<\/span><\/li>\n
  7. Be nice and less flashy.<\/span><\/li>\n
  8. Save. Just save. Saving for things that are impossible to predict or define.<\/span><\/li>\n
  9. Accept that uncertainty, doubt and regret are common cost in the financial world. There is no free lunch.<\/span><\/li>\n
  10. Endure error. In long term Yiu can do better.<\/span><\/li>\n
  11. Avoid the extreme ends of financial decisions.<\/span><\/li>\n
  12. You should like risk because it pays off over time. No risk no return. Take the risk that is acceptable to you.<\/span><\/li>\n
  13. Define the game you’re playing and don’t be influenced by others.<\/span><\/li>\n
  14. People have vastly different goals and desires. Find those that works for you.<\/span><\/li>\n<\/ol>\n

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    *:”The Psychology of Money,” by Morgan Housel<\/span><\/p>\n

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    2021\/11\/26 The Psychology of Money Damakey<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

      How to make better fina…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-1361","post","type-post","status-publish","format-standard","hentry","category-3"],"_links":{"self":[{"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/posts\/1361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/damakey.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1361"}],"version-history":[{"count":1,"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/posts\/1361\/revisions"}],"predecessor-version":[{"id":20285,"href":"https:\/\/damakey.com\/index.php?rest_route=\/wp\/v2\/posts\/1361\/revisions\/20285"}],"wp:attachment":[{"href":"https:\/\/damakey.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/damakey.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/damakey.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}