THE SUNDAY SUMMARY

Welcome to The Sunday Summary, a weekly newsletter where I share a quick book summary with actionable lessons, Book recommendations, Reading tips, and one life-changing Quote to help you build a healthy, wealthy life.

Hey Everyone,

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Book Summary

This week's book is "The Psychology of Money" by Morgan Housel

This book is one of the best books ever written on the topic of Money and Personal finance. The book has timeless lessons on wealth, greed, and happiness. In this book, Morgan has shared 19 short stories exploring the strange ways people think bout money and teaches you how to make better sense of one of life’s most important matters.

This book can be one of the best reads of your life. A true masterpiece that you should definitely read.

Here are some best lessons that you can implement in your life.

1. LESS EGO, MORE WEALTH: Saving money is the gap between your ego and your income, and wealth is what you don’t see. So wealth is created by suppressing what you could buy today in order to have more stuff or more options in the future.

2. USE MONEY TO GAIN CONTROL OVER YOUR TIME: Not having control of your time is such a powerful and universal drag on happiness. The ability to do what you what, when you want, with who you want, for as long as your want to, pays the highest dividend that exists in finance.

3. BE NICER AND LESS FLASHY: No one is impressed with your possessions as much as you are. You might think you want a fancy car or a nice watch, but what you probably want is respect and admiration. and you’re more likely to gain those things through kindness and humility than horsepower and chrome.

4. YOU DON’T NEED A SPECIFIC REASON TO SAVE: Everyone’s life is a continuous chain of surprises. It’s great to save for a car, or for a downpayment, or a medical emergency, But saving for things that are impossible to predict or define is one of the best reasons to save.

5. WORSHIP ROOM FOR ERROR: A gap between what could happen in the future and what you need to happen in the future in order to do well is what gives you endurance, and endurance is what makes compounding magic over time.

Book Recommendations

Here are 5 Books that will help you learn about true happiness in life

• The Art of Happiness

• The Happiness Project

• The Happiness Equation

• Stumbling on Happiness

• The Happiness Hypothesis

Reading Tip

Want to retain more of what you read?

Teach what you learned to others. It’s been scientifically proven that teaching others helps you to understand more and for a longer period of time.

So next time you read and learn something, try to teach it to someone and see the difference.

Quote

Currently reading

I’m currently reading 7 Rules to reset your mind and body for greater well being by Dr. Hansaji Yogendra. This book is like a practical guide that will help you become more healthy and gain control over your life.

and second book that I’m currently reading is Attention Span by Gloria mark. This book shows the study around the decreasing attention span of humans and how we can restore it to make the most of our time and energy.

I hope you find these tips and insights helpful in your reading journey.

Thank you for your love and support everyone. I'll see you next week.

Happy reading!

Kamalpreet Singh