The Psychology Of Money

[Gino Barbaro]

I just wanted to share a book that I read recently called The Psychology of Money. One quote that really stood out for me was that money’s intrinsic value is it’s ability to give you control over your time.  Most people say that happiness is achieved once you can attain control over your time and spend it as  you see fit. The autonomy of controlling your time is so powerful. That's why so many of us want to achieve financial freedom, and real estate is one of the best vehicles.

The book has also helped me understand my relationship with money, and how to enjoy it more, and to view it as a tool. We often focus on where to invest our money, cash on cash, IRR, etc. But do we ask ourselves why are we investing, does it align with our goals, is it values based decision making. Once we become clear on our metrics, the answers will become easier.

I would like to know if any of you have read the book, and what your biggest takeaways were. 

Gino

[Jason Thompson]

@Gino Barbaro I recently read The Psychology of Money as well. It gave me a different perspective on how I view money and helped me better understand my relationship with money. The chapter on Reasonable > Rational stood out to me the most, specifically home bias, ignoring the other 95% of the planet and having a broader view of money and opportunities outside of what is familiar or expected. I loved your book on creative cash. The first house I bought was through an MLO, a great tool I feel is highly underutilized.