Discover and read the best of Twitter Threads about #MoneyMindset

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Here are some key takeaways that can help you better understand your relationship with #money from "The Psychology of Money" by Morgan Housel @morganhousel #RichQUACK $QUACK #Psychologyofmoney

THREAD 🧵👇 Image
1. Wealth is what you don’t see: Wealth is the assets you accumulate that nobody else can see. It’s the cars not purchased, the clothes not bought, and the vacations not taken. #ThePsychologyofMoney #Wealth #Savings $QUACK
2. Compounding is the most powerful force in finance: Time and patience are the most important ingredients of compound interest. Understanding the power of compound interest is essential for building long-term wealth. #CompoundInterest #WealthBuilding $QUACK
Read 15 tweets
The only constant in life is change.

But how do we master this change

without being mastered by the fear of change?

Change consists of 4 phases.

Find out which phase you are currently in

and how that helps you to overcome your fear.🧵👇
Why are so many people afraid of change or even trying to avoid it?
Because fear and persisting in the status quo serve a function:

• Protection from unpleasant feelings and disappointment.
• Staying in the comfort zone where we are (supposedly) safe.
• Exercising control in situations we are familiar with.
Read 18 tweets

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