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Why are you bad with money? It's not about math it's about psychology. This animated summary of The Psychology of Money by Morgan Housel reveals why Mike Tyson lost $400 million while a janitor named Ronald Read quietly saved $8 million. In this video, you'll discover: Why emotional spending destroys wealth ( even for millionaires) -The hidden psychology behind every financial decision How compound interest made a janitor worth $8M Warren Buffett's 99% rule (wealth came AFTER age 50) Why reasonable beats rational in money management The social media comparison trap ruining your finances How to escape the golden cage of high income ** KEY LESSONS FROM THE PSYCHOLOGY OF MONEY: ** Money doesn't buy happiness, it rents comparison Survival matters more than winning Time in the market is greater than Timing the market True wealth = control of your time You are the variable, not the market TIMESTAMPS: 0:00 - Why You Downloaded -: Then Abandoned That Budgeting App 2:15 - Mike Tyson's $400M Bankruptcy Lesson 5:30 - Ronald Read: The $8M Janitor Nobody Knew 8:45 - Bill Gates & The Luck Factor 12:20 - Warren Buffett Made 99% After Age 50 15:40 - The $650,000 Cost of Waiting 10 Years 18:30 - Reasonable vs Rational Money Decisions 21:15 - True Wealth equals Control, Not Cash 24:00 - Money Is A Mirror : What Does Yours Reflect? RELATED PLAYLISTS: Financial Freedom Series: Investing for Beginners: Book Summaries: This Psychology of Money book summary breaks down Morgan Housel's timeless lessons on wealth, greed, and happiness. Whether you're learning about personal finance, investing, compound interest, or financial independence, this animated explanation makes complex money psychology simple. SUBSCRIBE for more animated book summaries and financial literacy content that actually makes sense. KEYWORDS: psychology of money, Morgan housel, animated book summary, why am i bad with money, personal finance, financial education, investing for beginners, compound interest explained, wealth mindset, money psychology, financial literacy, Mike Tyson bankruptcy, warren buffet investing, passive income, financial freedom, book summary animation #PsychologyOfMoney #MorganHousel #PersonalFinance #MoneyPsychology #FinancialLiteracy #BookSummary #InvestingForBeginners #WealthMindset #CompoundInterest #FinancialFreedom