Book Review: The Psychology Of Money By Morgan Housel:

Understanding Financial Behaviour And Its Relevance To Malaysian Financial Culture

Authors

  • Krishna Baskaran The National University of Malaysia (UKM)
  • Nurul Akqmie Badrul Hisham National University of Malaysia (UKM)

Keywords:

Money, Psychology, Financial Behaviour

Abstract

This review examines Morgan Housel's “The Psychology of Money,” emphasizing its core topics of behavioural finance, risk, and emotional decision-making. It underscores the book's significance in the current era and contextualises its ideas within Malaysia, emphasising saving culture, generational perspectives, and financial taboos. The review offers an in-depth evaluation of the book’s strengths and weaknesses, highlighting its accessibility, psychological complexity and relevance. 

References

Abdul Ghafoor, K., and Akhtar, M. (2024). Parents’ financial socialization or socioeconomic characteristics: Which has more influence on Gen-Z’s financial wellbeing? Humanities and Social Sciences Communications, 11, 1-16.

Jaffar, N. (2024). Financial literacy and financial well-being of low-income women in Malaysia: A capability view. Cogent Social Sciences, 10(1).

Housel, M. (2020). The psychology of money: Timeless lessons on wealth, greed, and happiness. Harriman House.

Ramli, N., Abdol Ghapar, F., and Abu Seman, S. (2024). Developing items for measuring financial well-being among single mothers in Malaysia: An exploratory factor analysis procedure. International Journal of Socio-Economy Planning. 1(1), 1-9.

Sabri, M. F., Wahab, R., Mahdzan, N. S., Magli, A. S., Rahim, H. A., Suhaimi, S. S. A., and Nazuri, N. S. (2023). An enigma of Malaysia’s low-income young adults: Mediation of financial behaviour on financial well-being and locus of control cohesion. PLOS ONE, 18(7), 1-27.

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Published

25-11-2025

How to Cite

Baskaran, K., & Hisham, A. (2025). Book Review: The Psychology Of Money By Morgan Housel: : Understanding Financial Behaviour And Its Relevance To Malaysian Financial Culture . Journal of Ethnic and Diversity Studies (JOEDS), 3(2). Retrieved from https://joeds.com.my/index.php/home/article/view/88

Issue

Vol. 3 No. 2 (2025): Journal of Ethnic and Diversity Studies (JOEDS): Volume 3, Issue 2

Section

Books and Multimedia Reviews

License

Copyright (c) 2025 Krishna Baskaran, Nurul Akqmie Badrul Hisham

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