Coincidentally I bought this on Audible yesterday, it's in the 2 for 1 sale in the UK (not sure about elsewhere) so this was a good visual introduction.
I like the "look at that car" image best, I often think "nice car, shame about the driver" as some idiot speeds past me at 120mph, only in not quite so polite terms!
My kindle and Audible accounts are still based in the UK (although I do all my other shopping in Poland) as I started buying books there and [you can't?/I don't know how] to migrate to another country. When I got the paperbook, you can download the ebook for free too. I loved that arrangement.
I like the "Shame about the driver" thought, I didn't put that together but it's so true! It reminds me of how Top Gear always used to complain about BMWs as they attracted a certain type of terrible driver so then their reputation went down and that type of driver went to another car. There are a lot of lessons there; you can change your exterior but it won't change your personality.
Hi Chris, I see that you are interested in understanding Money & Business I provide Business analysis reports which are of super high quality. please have a look. Can you please follow me and support me on my substack.
Hi Mark, Can you please follow me and support me on my substack....i provide Business analysis reports which are of super high quality. please have a look
I find water such a challenge to draw. I've tried it in a few different ways copying other people's styles. One thing I've done a bit is use overlay layers instead of a normal layer. actually had another one with water that I made during the thought process but rejected.
These are great. Firm believer that The Psychology of Money should be in every high school or college course. We make all new hires at our firm read the book. Visuals just take it up a level
We are a small family office/wealth mgmt. Coming from a 15 yr career in a large institution I saw a lot of these educational opportunities missed. Being somewhat of a startup ourselves, we have the ability teach and express what truly matters. Serve, not sell.
Sounds brilliant. Many companies talk about the importance of their values but do so little to actually live them. Helping to instil them early on like this would go much further.
Thank you Rachel. I always think that the best compliment is when someone shares your work with someone else as it shows they really do like it. Hearing you shared it is a real compliment.
Sent this on to several people. Also, just saw “Five Types” at my local library. Time, health, social, ____ , financial; oops forgot #4. It was important, believe me!! I passed on borrowing because I need fiction right now, but maybe next time.
There was something that resonated in each of these. I came to investing late and research in the U.K. shows 60% of men invest compared to 40% of women. So in addition to the above typologies there is a gender element that needs to be overcome. Understanding personal finance is freedom.
Depending on the individual it seems to be a mixture of less risk appetite coupled with lesser understanding of the investment choices and markets so they save more, lower earning potential in some cases, breaks for maternity leave and focus on the home. Personally I feel this could be remediated by making financial literacy mandatory at school.
It’s for a few reasons. Women earn less than men is the first (so you automatically invest less in a pension). You accumulate savings later and so invest later. Women have lower levels of financial literacy, confidence and risk tolerance, as well as lack of role models in investing / advisory and historical barriers to entry. Women generally know less about risk, investing and pensions. Women also on the whole like active management and investing for impact. Hope that helps !
Wow, that's interesting! Yes, understanding personal finance is absolutely freedom! It would be great if we all learned more about that while still in school!
Coincidentally I bought this on Audible yesterday, it's in the 2 for 1 sale in the UK (not sure about elsewhere) so this was a good visual introduction.
I like the "look at that car" image best, I often think "nice car, shame about the driver" as some idiot speeds past me at 120mph, only in not quite so polite terms!
My kindle and Audible accounts are still based in the UK (although I do all my other shopping in Poland) as I started buying books there and [you can't?/I don't know how] to migrate to another country. When I got the paperbook, you can download the ebook for free too. I loved that arrangement.
I like the "Shame about the driver" thought, I didn't put that together but it's so true! It reminds me of how Top Gear always used to complain about BMWs as they attracted a certain type of terrible driver so then their reputation went down and that type of driver went to another car. There are a lot of lessons there; you can change your exterior but it won't change your personality.
Unfortunately there's no PDF for me, I just had a look.
I love the fact that you pulled that lesson from the thought about the drivers. I can think of a few ways of saying it but none are very nice 🤣
Hi Chris, I see that you are interested in understanding Money & Business I provide Business analysis reports which are of super high quality. please have a look. Can you please follow me and support me on my substack.
Interesting!
I had to laugh because I'm one of those that always looks at the car and would rather the driver not be there so I can check out the car! Lol.
😂😂😂
lol
Hi Mark, Can you please follow me and support me on my substack....i provide Business analysis reports which are of super high quality. please have a look
Thanks for the summary! My favorite drawing would be the pool, a very memorable metaphor and I always love to see how different people draw water 🙂
I find water such a challenge to draw. I've tried it in a few different ways copying other people's styles. One thing I've done a bit is use overlay layers instead of a normal layer. actually had another one with water that I made during the thought process but rejected.
It looks good! I like that the floor is darker, that really help it look more "real"
I tried it just to have a go so I'm glad it comes across well!
I like the pool too!
These are great. Firm believer that The Psychology of Money should be in every high school or college course. We make all new hires at our firm read the book. Visuals just take it up a level
Thanks for the compliment Brad! What does your firm do? The last startup I was at had a great list of required readings.
We are a small family office/wealth mgmt. Coming from a 15 yr career in a large institution I saw a lot of these educational opportunities missed. Being somewhat of a startup ourselves, we have the ability teach and express what truly matters. Serve, not sell.
Sounds brilliant. Many companies talk about the importance of their values but do so little to actually live them. Helping to instil them early on like this would go much further.
True!
Wow.. yes!
It absolutely should be! That's an excellent idea!
The compounding interest exercise got me. That’s crazy to think about!
I know right! That's so amazing!
Visual metaphors always makes it more fun and immersive. Nice work!
Thanks Gaby! As you might have guessed, I'm a big fan of them too!
Yes it does! It helps to remember it too!
Excellent drawings- so good!
Yeah, they were great!
This summary is really good. Just shared it with my husband for the reminder.
Thank you Rachel. I always think that the best compliment is when someone shares your work with someone else as it shows they really do like it. Hearing you shared it is a real compliment.
Agreed!
Have read the book. Great summary, amazing illustrations
Thanks, Zarka!
Right! It made want to read the book!
i just finished it and thanks for this handy summary!
No problem at all!
That's awesome!
Very good visual work and Insightfull
Thank you!
Yes, very much so!
My favorite image was about the one about compounding wealth. Nice article.
Thanks! Compounding wealth really is magic.
Can you create an article about it
Mine too. So amazing!
Sent this on to several people. Also, just saw “Five Types” at my local library. Time, health, social, ____ , financial; oops forgot #4. It was important, believe me!! I passed on borrowing because I need fiction right now, but maybe next time.
I think it’s physical (instead of health) and mental. Sounds like a great concept, right? Just need to get through a few more on my Tsundoku!
Nice!
There was something that resonated in each of these. I came to investing late and research in the U.K. shows 60% of men invest compared to 40% of women. So in addition to the above typologies there is a gender element that needs to be overcome. Understanding personal finance is freedom.
I can't remember if I've heard that before but did you hear any theories why? And does that mean women are more likely to save than men?
Depending on the individual it seems to be a mixture of less risk appetite coupled with lesser understanding of the investment choices and markets so they save more, lower earning potential in some cases, breaks for maternity leave and focus on the home. Personally I feel this could be remediated by making financial literacy mandatory at school.
Exactly!
It’s for a few reasons. Women earn less than men is the first (so you automatically invest less in a pension). You accumulate savings later and so invest later. Women have lower levels of financial literacy, confidence and risk tolerance, as well as lack of role models in investing / advisory and historical barriers to entry. Women generally know less about risk, investing and pensions. Women also on the whole like active management and investing for impact. Hope that helps !
Wow, that's interesting! Yes, understanding personal finance is absolutely freedom! It would be great if we all learned more about that while still in school!
Lessons worth internalizing.
Absolutely!
Beautiful 🤩
Thank you.
Agreed!
Beautiful work!
Thanks Janis! Means a lot as always.
I agree!