How To Get Rich The Smart Way: Gen Z's Guide To Lessons From ‘The Psychology Of Money'
The book focuses on the key insights on wealth-building through behavior, not just knowledge. From the importance of preserving wealth and avoiding lifestyle inflation to embracing patience, humility, and compounding, the story highlights lessons Gen Z can apply early in life. Instead of chasing quick riches, Housel encourages a long-term mindset grounded in self-awareness, discipline, and emotional control. Scroll down to read more. https://zeenews.india.com/photos/lifestyle/how-to-get-rich-the-smart-way-gen-z-s-guide-to-lessons-from-the-psychology-of-money-2931201 Updated:Jul 13, 2025, 03:03 PM IST About the Book
1 / 7
Written by Morgan Housel and published in 2020, The Psychology of Money is an amazing book that explores the thing which is often overlooked, the emotional and psychological side of personal finance. Rather than focusing on complex formulas or investment strategies and he talks about our mindset and it's importantance in handling our money.
(This article is meant for informational purposes only and must not be considered a substitute for advice provided by qualified professionals.) Earning Wealth Is One Thing, Preserving It Is Another
2 / 7
Many people focus on how to make money, through hard work, ambition, or risk-taking. But the author argues that staying wealthy is a whole different thing. It requires qualities like humility, patience, and fear of loss. It's great to be bold while building wealth whether it's investing or starting businesses, but knowing when to stop and protect what you've earned is what will help you in the long run. Don't Let Your Spending Grow with Your Income
3 / 7
Saving money has little to do with income and everything to do with behavior. The more people earn, the more they tend to spend, often on things that don't bring lasting happiness, so the author says you don't have to increase your lifestyle every time your income increases. Money Means Different Things to Different People
4 / 7
One of the book's strongest messages is that there is no single "correct" way to use money. People behave the way they do because of their individual backgrounds, experiences, and beliefs. What feels smart to one person might feel risky or unnecessary to another. Everyone has their own situations and no one is crazy to react in a certain way. Luck and Risk
5 / 7
Housel says that financial outcomes are not always the result of skill or bad judgment, luck and risk play a huge role. Some people succeed because of good timing; others fail despite making good decisions. Recognizing this makes you more empathetic, humble, and careful. Let Time Turn Small Gains into Big Results
6 / 7
Housel calls compounding one of the most powerful financial forces, not just for investing, but in life. The trick is not chasing big wins, but allowing small gains to grow over long periods of time. Patience, not genius, builds wealth. Even small investments now can grow exponentially over decades. Conclusion
7 / 7
The book reminds us that building wealth isn't just about earning more, it's about thinking differently. By focusing on behavior, patience, and a long term mindset over quick wins or flashy spending, anyone can build lasting financial stability. In a world full of noise, Housel's advice is simple but powerful. He says that learn to master your emotions, respect time, and let your money habits reflect your values.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
4 hours ago
- India.com
Meet 82-Year-Old Man Who Lives In A Simple Home, Doesn't Own Mobile Phone Yet Leads Rs 1,50,000 Crore Business Empire—He Is...
photoDetails english Meet 82-year-old Ramamurthy Thyagarajan, the man behind the Rs 1.5 lakh crore Shriram Group. Despite his massive business success, he lives simply with no mobile phone, modest home, and a ₹6 lakh car. He's also known for donating Rs 6,210 crore to charity, proving true wealth lies in values, not lifestyle. Updated:Jul 20, 2025, 06:59 PM IST The Billionaire With No Mobile Phone 1 / 7 Ramamurthy Thyagarajan, the 87-year-old founder of Shriram Group, is no ordinary billionaire. Despite heading a massive Rs 1.5 lakh crore financial empire, as per the website of his company, Shriram Group he lives a life marked by simplicity. He doesn't own a mobile phone, lives in a modest house, and drives a humble Rs 6 lakh car. His story stands out in a world where success is often equated with luxury. A Humble Beginning in Tamil Nadu 2 / 7 Born into a peasant family in Tamil Nadu, Thyagarajan grew up with limited resources but a strong sense of discipline and purpose. He pursued mathematics in Chennai and later specialized in statistics at the Indian Statistical Institute in Kolkata. His strong academic background would eventually shape his future as a visionary entrepreneur. The Birth of Shriram Group 3 / 7 In 1974, at the age of 37, Thyagarajan co-founded Shriram Chits along with AVS Raja and T Jayaraman. Their aim was clear—to provide financial services to those often neglected by mainstream banks. This included truck drivers, small traders, and lower-income borrowers. What started as a modest initiative slowly transformed into one of India's largest financial services groups. An Empire That Serves Millions 4 / 7 Today, Shriram Group operates across thousands of locations and serves more than 11 million clients. With over 70,000 employees and 1.4 lakh agents, the group has grown into a major financial force with an asset under management (AUM) of Rs 1.5 lakh crore. Thyagarajan's people-first vision continues to drive the group's success. He Donated Rs 6,210 Crore 5 / 7 In a landmark move, Thyagarajan sold his stake in the company—worth Rs 6,210 crore—and donated the entire amount to a public trust. Instead of using his wealth for personal comfort or luxury, he decided to dedicate it to the greater good. This act of generosity remains one of the biggest philanthropic gestures in Indian business history. A Life Guided by Values, Not Wealth 6 / 7 Even with enormous success, Thyagarajan remains grounded. He has never been tempted by the trappings of wealth. He lives simply, avoids publicity, and stays true to the principles of integrity, humility, and service. His lifestyle is a refreshing contrast to the typical image of a billionaire. The Legacy of Ramamurthy Thyagarajan 7 / 7 Ramamurthy Thyagarajan's life is a lesson in purpose-driven success. He built a financial empire from scratch, empowered millions, and gave back more than most ever earn. In a time when status is often measured in luxury, his quiet, impactful journey reminds us that true success lies in how much we uplift others.
News18
5 hours ago
- News18
Why Millennials And Gen Z Prefer Cafés Over Traditional Restaurants
Last Updated: Millennials and Gen Z don't just want to eat out, they want to belong somewhere. And cafés, with their warm lights, good brews, and open vibes, offer just that. The café culture in India is brewing hotter than ever, and it's not just about coffee anymore. For Millennials and Gen Z, cafés have become the new cultural hubs, spaces where lifestyle, work, creativity, and connection seamlessly blend. From aesthetically pleasing interiors to flexible workspaces and innovative menus, cafés are replacing the formality of traditional restaurants with an experience-first approach that resonates deeply with today's youth. 'Millennials and Gen Z have redefined dining culture, increasingly favoring cafés over traditional restaurants," says Rajat Jaiswal, Pilot and Co-founder, WAB Cafe and Keydroid. 'This shift is driven by lifestyle choices, social habits, and evolving work patterns that align more with the casual and versatile nature of cafés." He highlights that the informal, flexible vibe of cafés makes them ideal for everything from solo productivity to social catch-ups. With simpler, more affordable menus and photogenic spaces that suit their social media habits, cafés are exactly what younger consumers are looking for. 'It's more than just food, it's an experience," he adds. The Rise of Café-First Hospitality Rajan Sethi, Managing Director, Bright Hospitality Pvt. Ltd., echoes this sentiment, having witnessed the evolution firsthand. 'Over the past decade, we have seen a clear shift in how Millennials and Gen Z approach dining, and cafés have naturally become the spaces they gravitate toward," he says. Sethi's brands, like Espressos Anyday and OMO – Soul Food Community, are built around this café-first mindset. 'With Espressos Anyday, we've created an everyday café that feels like your own corner in the city," he explains. 'Whether you're working solo or brainstorming with friends, the vibe is intentionally casual yet inspiring." Meanwhile, OMO takes it a step further by merging food and philosophy. 'OMO is for people who want their dining spaces to align with their values—offering grounding meals, seasonal ingredients, and a calm, conscious atmosphere," Sethi says. The rise of the 'laptop and latte" work culture, particularly in metros like Delhi and Gurgaon, has made cafés a modern-day second home and office. Social, Sensory, Shareable What's also redefining this space is the experiential element. According to Rajat Agarwal, CEO of Barista Coffee, 'At Barista, coffee is more than just a beverage, it's a lifestyle and cultural experience, especially for Millennials and Gen Z." He points out that these generations crave connection, ambiance, and self-expression. Barista caters to this demand with curated offerings like Coffee Bubble Tea, Iced Tiramisu Latte, and live brewing sessions, trendy, flavorful, and highly Instagrammable. 'Through experiential marketing, playful menus, and community-driven spaces, we've made Barista a go-to destination where coffee culture meets contemporary lifestyle," Agarwal says. It's not about fancy dining, but about engaging environments that balance affordability with innovation. A Safe, Creative, Comfortable Space Shreya Ghai, owner, Bean & Coffee Kitchen, beautifully sums up the emotional value cafés offer: 'For Millennials and Gen Z, a café isn't just a place to eat or drink, it's an extension of their lifestyle. It's where work happens, friendships grow, passions are explored, and everyday moments become memorable." She emphasizes that what people seek today is comfort without formality, creativity without judgment, and connection without pressure. 'It's about being surrounded by warm lights, familiar faces, and the quiet hum of inspiration," Ghai shares. 'At Bean & Coffee Kitchen, the stories shared at every table are as important as the food on it." The Bottom Line What we're witnessing is not just a shift in dining preferences but a broader cultural evolution. Cafés have emerged as the modern-day living rooms, creative studios, and informal workspaces for younger generations. They combine aesthetics, affordability, flexibility, and community, qualities that traditional restaurants often lack. In short, Millennials and Gen Z don't just want to eat out, they want to belong somewhere. And cafés, with their warm lights, good brews, and open vibes, offer just that. view comments First Published: July 20, 2025, 16:28 IST News lifestyle » food Why Millennials And Gen Z Prefer Cafés Over Traditional Restaurants Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
6 hours ago
- India.com
FASTag Annual Pass Launch In August: Can You Use It On Another Vehicle? Check New Rules, Cost, Validity, And How To Activate It
photoDetails english 2934386 Updated:Jul 20, 2025, 04:32 PM IST FASTag Annual Pass To Launch On August 15 1 / 7 The FASTag annual pass will be rolled out nationwide on August 15 by the Ministry of Road Transport and Highways (MoRTH), aiming to make highway travel more economical and efficient for private vehicle users in the country. FASTag Annual Pass Cost And Validity 2 / 7 The FASTag annual pass is priced at Rs 3,000 and is valid for either one year or 200 trips—whichever is completed first. It is designed to reduce frequent toll payments and simplify regular highway commuting. One FASTag, One Vehicle Rule 3 / 7 As per NHAI, each FASTag is vehicle-specific and cannot be used interchangeably. Using a FASTag on a vehicle other than the one it's registered with is considered a rule violation and may lead to hefty penalties. FASTag Annual Pass: Applicable To Private Vehicles 4 / 7 The annual pass is applicable only for private vehicles such as cars, jeeps, and vans. It cannot be used on commercial vehicles and is valid only at designated National Highways and Expressways. FASTag Annual Pass: How To Activate It 5 / 7 The annual pass can be activated via the Rajmarg Yatra app or NHAI's official website. Once activated, users can conveniently renew their pass online without the need to visit any toll plaza. No Need For New FASTag 6 / 7 There's no requirement to purchase a new FASTag for the annual pass. Users can activate the pass on their existing FASTag issued by banks or platforms like Paytm, ICICI Bank, or HDFC Bank. FASTag Annual Pass: One Vehicle, One Pass 7 / 7 The annual pass is non-transferable and valid only for the vehicle on which the FASTag is affixed. If the pass is used on another vehicle, it will be deactivated immediately, rendering it unusable.
