Submitted By: Salman Rahim
Profession/Background: Working Various Small Jobs
Book Title: The Psychology of Money
Author: Morgan Housel
Before Reading the Book:
My relationship with money was entirely emotional. If I earned a little extra, I spent it immediately. If I didn’t have enough, I blamed the world, my circumstances, and my lack of education. I thought wealth came from having a high-paying job or being born into a rich family.
I never saved intentionally, and investing seemed like something only rich people did. My financial habits were driven by fear and short-term gratification. I envied others who were doing well financially but didn’t think I could change anything about my own situation. My biggest belief was: “If I could just earn more, all my problems would be solved.”
Discovering the Book That Changed Everything:
One evening, while scrolling through YouTube, I came across a video titled “How This Book Changed My View on Money Forever.” The speaker mentioned “The Psychology of Money” by Morgan Housel. Intrigued, I ordered a copy online, even though it felt like a luxury at the time.
When the book arrived, I thought I’d just skim through it. But from the very first chapter, it felt like Morgan Housel was speaking directly to me. The language was simple, the stories were real, and the ideas were powerful. It wasn’t a book about complicated investment strategies—it was a book about how we think about money.
After the Book:
Everything changed.
I realized that managing money is more about behavior than intelligence. One of the first ideas that hit me hard was: “Doing well with money has little to do with how smart you are and a lot to do with how you behave.” I stopped blaming my background and income level. Instead, I started focusing on my financial habits.
I set up a small emergency fund. I stopped spending just to feel good. I opened a basic investment account and started saving even the smallest amounts monthly. I no longer felt the need to “show off” my earnings through purchases—I wanted to build long-term wealth quietly.
I also understood the importance of time in building wealth. Before, I thought getting rich quickly was the goal. Now, I understood that getting wealthy slowly and staying wealthy is the real game.
The Transformation:
The most beautiful change was in my mindset. I no longer compared myself to others. I stopped thinking of money as a status symbol and started viewing it as freedom. I realized that wealth isn’t what you see—it’s what you don’t spend.
I became more intentional with my purchases. I created a simple budget. I started investing in my financial education by reading more books, watching educational content, and avoiding social media distractions related to luxury lifestyles.
I also began talking about money differently with my younger siblings and friends. Instead of saying, “If only I had more,” I now say, “Here’s how I’m growing what I already have.”
Within 18 months, I had saved enough to help pay for my younger brother’s college tuition and still maintained my emergency fund. I wasn’t “rich” by any flashy standard, but for the first time in my life—I was financially peaceful.
My Favorite Line & How It Helps Me Every Day:
“Wealth is what you don’t see.”
This one line shifted my entire outlook. Earlier, I wanted to buy things that made me look successful. Now, I understand that true wealth is invisible—it’s the quiet power of financial security, the calmness of not living paycheck to paycheck, and the discipline to walk away from unnecessary spending.
Every time I feel the urge to spend on something I don’t need, I remind myself: “Wealth is what you don’t see.” That reminder has saved me from countless impulsive decisions.
To Anyone Considering This Book:
“The Psychology of Money” isn’t just a finance book—it’s a life book. It doesn’t teach you how to double your money overnight. It teaches you how to think about money in a way that leads to lasting peace, freedom, and confidence.
If you’ve ever felt like you don’t earn enough to grow wealth—or if you feel like money is always controlling your emotions—this book is for you. It will teach you that your mindset is your greatest financial tool.
You don’t need a finance degree to manage money well. You need patience, humility, and self-awareness. This book gives you all three. Read it slowly, absorb it deeply, and watch your financial life transform, one smart decision at a time.