No One's Crazy
Hello people! How are you? Hoping everyone has had a wonderful March so far. I was occupied with all the interview preparations and processes and finally, it's all sorted now. My physical health, however, did suffer by sitting for hours studying and overthinking. Now, I am again back on track. Hopefully đ After the Introduction, the first chapter of the book "The Psychology of Money" is titled "No One's Crazy" and I must agree, it had already become one of my favourite chapters.
The next paragraph will be enough to justify the title, not only regarding money but almost in any aspect. People do some crazy things with money. But no one is crazy. Hereâs the thing: People from different generations, raised by different parents who earned different incomes and held different values, in different parts of the world, born into different economies, experiencing different job markets with different incentives and different degrees of luck, learn very different lessons.
By this time, I'd read this paragraph 10 times. Things like why most parents opted (or even still opt) for FDs and mutual funds and not stocks, yoga over strength training, a government job over any other profession, home-cooked food over dining out, TV news over the Internet, etc made sense.
Let's consider my example:
During the pandemic, I started consuming content around crypto- mostly about how to invest, which platform to choose for exchange, which coin to invest in, etc. I knew that FOMO was the driving factor; I should learn first and then only invest in such a volatile asset. But, I didn't, rather I told myself a story about what and why I'm doing it, checked the boxes I need to check and shaped my own unique crypto experience.
I am sure, we all have done something like this. Right?
All boils down to a simple reason:
Everyone has their own unique experience with how the world works and makes decisions that seem to make sense at a given moment.
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