I think it’s incredibly valuable to realize that most truly wealthy people don’t try to look rich. Chasing that image is just a status game with no real payoff.
As Naval Ravikant says: “Play stupid games, win stupid prizes.”
Instead, it’s far better to adopt a frugal mindset early on. It's not about penny-pinching, but about avoiding lifestyle inflation as your income grows throughout your career.
This was a highly shareable 101 piece on the fundamentals of personal finance (something that REALLY should be taught in schools). I have to wonder though, how does one get this far, and still not uncover (or do the DD) on Bitcoin?
Thanks Tobias, a few years ago I ran into this concept and it is interesting to see how many complex issues we have around finance. It's a coulourfull palette..
Thank you Tobias🙏🏽
I red the 2 first books you proposed and I personally consider them as assets.
The Psychology of Money is not really about money, it’s about us.
It’s the mirror that shows how our fears, dreams, scars, and egos sit behind every dollar we earn, spend, or save.
Thank you Terod!
I agree, those books definitely are assets.
I‘m glad that this resonated with you!
Really interesting read, Tobias. I appreciate you introducing this topic from psychology and not on money tactics.
Thank you, Rachel!
I truly believe the mindset and psychology behind it are almost as important as the practices themselves.
I will definetly engrave in my memory "Buying back your time" as a goal to make money.
Thanks for this clear, practical breakdown, Tobi! The psychology behind money management is often overlooked but so crucial.
I especially like the emphasis on behavior over intelligence and how volatility can be an opportunity rather than a threat.
Curious — what’s the best habit you recommend people develop early on to build a strong financial mindset?
Would love to hear others’ thoughts too!
Thank you!
I think it’s incredibly valuable to realize that most truly wealthy people don’t try to look rich. Chasing that image is just a status game with no real payoff.
As Naval Ravikant says: “Play stupid games, win stupid prizes.”
Instead, it’s far better to adopt a frugal mindset early on. It's not about penny-pinching, but about avoiding lifestyle inflation as your income grows throughout your career.
This was a highly shareable 101 piece on the fundamentals of personal finance (something that REALLY should be taught in schools). I have to wonder though, how does one get this far, and still not uncover (or do the DD) on Bitcoin?
Thank you, Russ!
I agree that it’s becoming increasingly important to understand Bitcoin’s inner workings and its purpose, and it certainly deserves its own space.
That said, going into it here would have made this post far longer than intended.
Impressive article
Thank you Joyce!
Thanks Tobias, a few years ago I ran into this concept and it is interesting to see how many complex issues we have around finance. It's a coulourfull palette..
Thanks Patricia!
It really is..