“Rich is the current income. Wealth is income not spent. Wealth is hard because it requires self-control.” Morgan Housel

10 Powerful Quotes from “The Psychology of Money” by “Morgan Housel”

1. “Spending money to show people how much money you have is the fastest way to have less money.”
2. “Getting money is one thing. Keeping it is another.”
3. “Be nicer and less flashy. No one is impressed with your possessions as much as you are.”
4. “You might think you want a fancy car or a nice watch. But what you probably want is respect and admiration.”
5. “Use money to gain control over your time.”
6. “Saving is the gap between your ego and your income.”
7. “Savings can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you. Money relies more on psychology than finance.”
8. “Rich is the current income. Wealth is income not spent. Wealth is hard because it requires self-control.”
9. “Happiness is just results minus expectations.”
10. “In fact, the most important part of every plan is planning on your plan not going according to plan.”

https://twitter.com/books_dq/status/1517815934056075264

A few bonus quotes:

“”Be more patient” in investing is the “sleep 8 hours” of health. It sounds too simple to take seriously but will probably make a bigger difference than anything else you do.”

“The formula for how to do well with money is simple. The behaviors you battle while implementing that formula are hard.”

“”Save more money and be more patient” is too simple for most people to take seriously, but it’s the best solution to most financial problems.”

References:

1. https://www.collaborativefund.com/blog/rules-truths-beliefs/
2. https://www.collaborativefund.com/blog/$/