12 Truths about Finance and Life that are often ignored

Some knowledge and education are not limited to classrooms only, and some life experiences have never been taught in classrooms either. This time, ACU PAY brought an article from Morgan Housel, the author of “The Psychology of Money.” for you. Housel noticed and came up with ideas from business and investment that no one else had taught us in school unless we learned to experience it ourselves.

1.The skill of understanding people who disagree with you is one that people often overlook.

Let’s switch from the question “What makes them think like that?”, to the question, “What do they have been through till they have the thought like that?” Then, we will get a different perspective.

2.People want to express their opinions.

We all like to comment on everything, and sometimes we don’t have to express our thoughts. Nothing is wrong if sometimes you say “I don’t know” 

3.Intelligence is a good thing, but it is worthless immediately if there are four of these.

Ego, refusing to change his attitude, cannot communicate with others and does not compromise with the team.

4.Open to new ideas from people around one who have different experiences and backgrounds.

We never thought that what we didn’t know would disprove everything we believed in, but no one actually knew everything. That’s why you should be open-minded.

5.Past accomplishments always seem easy.

Because we already know how this will end and we don’t forget about today, but we may have forgotten how difficult it was before.

6.Learn to be pridefully defeated

Without breaking down easily, and learning this new thing will help you learn better than always thinking you’re right.

7.The skill you have isn't as important as the skill you have against your competitors.

This is especially important in investments where we often don’t know who our competitors are.

8.People who work best are not always the smartest.

However, that person turned out to be the one that easy to work with and had good habits. Hausel said, “Emotional intelligence is more important than textbook intelligence” to the extent that Hausel wants this to be taught in school.

9.Experience teaches us that in a competition, we cannot determine everything as we wish.

The more experience you have, the less accuracy you see but the more mistakes you make by underestimating luck and skill. Success is not measured only by skill but also by timing, action, and luck.

10.The most complex thing always has a simple explanation.

If you’re a receiver who can’t understand what the author needs to imply, maybe either the writer’s bad at communication or he/she is deliberately bluffing.

11.xpectations always change faster than results.

Because of this, successful businessmen and investors often have a feeling “up to you”

12.Passion can be much more powerful than profit motivation.

This is common in all walks of life. People who write articles about the benefits and education of finance, although there may not be many, she/he is still in love with what she/he does, or the number of people on the richest list in Forbes has a relatively large number of people who never do it for money.

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