The World's Best Book Summaries
How much money is “enough”? Is there a point at which you should stop taking risks and enjoy what you have? People who say “money doesn’t buy happiness” are wrong—money can make you happier, up to a point. However, once you make enough to live a comfortable life, money can become a trap. Some people become so greedy in their desire to keep making more that they risk losing everything they have. Here’s how to be happy with having “enough.”
What is the difference between meditation and mindfulness? How do you get started with these practices? Productivity expert Chris Bailey argues that meditation and mindfulness can contribute to your productivity by training you to focus. He makes a distinction between the two practices and explains how you can reap their benefits by making them daily habits. Keep reading to learn about the benefits of meditation and mindfulness and how to make them a part of your daily routine.
Do you have an emergency savings fund? Why is it important to plan for financial emergencies? Many people have the mindset of “it couldn’t happen to me.” But the truth is, sudden financial emergencies can happen to literally anybody—they’re unpredictable in their nature. That’s why it’s so important to start saving for emergencies, so you’re prepared for things to go wrong. Here’s why you should plan for things to go wrong.
Do you want to put together a long-term financial plan? Why should you be sensible, rather than logical, when planning for the future? To be logical is to make a decision based on known facts, while to be sensible is to show sound judgment. They are similar, but they are not the same. In his book The Psychology of Money, Morgan Housel suggests making sensible decisions when making a long-term financial plan because it will put your mind at peace. Here’s how to create a feasible financial strategy, according to behavioral finance expert Morgan Housel.
Have your life goals changed over the years? Do you have the same goals you did 10 or 20 years ago? A fact of life is that goals change over time. However, people often deny this fact and try to plan for the future as if nothing will change. That’s why Morgan Housel, the author of The Psychology of Money, says that you should make a financial plan that is flexible. Here’s why you should have finances that can change with your life.
Why do they say “money can’t buy you happiness”? Did you know that statement is fundamentally wrong? In his book The Psychology of Money, Morgan Housel explains that money buys you control over time, which is the key driver of happiness. When you have control over how you spend your time, you can spend it on things that bring your happiness. Here’s why money is happiness if used responsibly.
Do you regularly put money aside in a savings account? Why is it important to save money? We’re told from a young age that having a savings account is important, but many people don’t have savings because they feel like they don’t make enough money to save. According to Morgan Housel, the author of The Psychology of Money, this way of thinking is incorrect and harmful—everyone should save money even if they don’t have a high income. Here’s how to start saving money even if you don’t have a high income.
Why is it so difficult to make decisions? Do you often regret your decisions, thinking you should have known better? Decision-making is a cognitively taxing process, especially when the future is uncertain and the stakes are high. But it doesn’t have to be this way. According to Brian Christian and Tom Griffiths, humans already have all the tools to make smart decisions. In their book Algorithms to Live By, they explain how to make better decisions using computer algorithms. Let’s take a look at four algorithms intended to help you make better decisions.
Why do so many people suffer from FOMO? What do you think causes FOMO? Information overload and “fear of missing out” may rank among the biggest contributors to chronic indecision. In their book Algorithms to Live By, Christian and Griffiths compare FOMO to a modem bufferbloat that slows down internet connection. Like their home modems, people who suffer from FOMO feel as if they have to do everything that’s expected of them and assume that there’s something wrong with rejecting a good opportunity. Here is how to deal with FOMO by adopting the mindset of JOMO (the joy of missing
Do you want to know how to change bad habits? What experiments can help you weed out your bad behaviors and replace them with better ones? Bad habits are difficult to kick because they are literally encoded in your brain. According to Charles Duhigg, the author of The Power of Habit, all successful habit changes begin with a process of experimentation to uncover the specific cues and rewards that drive your habits. He suggests that you follow a four-step process that relies on identifying your routine and experimenting with different rewards so that you can effectively isolate your cue and