Recently I was reading an article that talked about a book called ¿Cómo piensan los ricos? (How do the rich think?), the book is in Spanish, and among the many interesting things it mentions is the following sentence: "How you behave is more important than what you know "....
That phrase alludes to the importance that emotions have in our lives, in decision making, in practically everything. The detail in this case is that when we refer to investments, when we talk about money, if the predominant emotion is fear, obviously we know that the results will be terrible for our personal finances. When I analyzed what was behind that phrase, I saw it as a great truth.
Most probably, part of the secrets behind all these people who achieve economic success that transcends has to do with an emotional control beyond the usual, that it is not fear that dominates them and makes them make bad decisions, but quite the opposite, that they dominate fear and any negative emotion that may arise, and thus avoid clouding their judgment as far as financial matters are concerned.
This is a great lack that we have in terms of academic training, and if we add to the fact that no school teaches finance, investment or anything like it, neither one learns to control emotions, the results are obvious, a long line of people who live day by day financially, waiting for the next salary to arrive to try to solve expenses and evidently going from one debt to another.
And it is not that I disagree with debts, because well used they can leave us great benefits, however, it is not particularly what I see frequently, in fact, people think a lot to ask for a loan to invest in something, or to start a business, but when it comes to buying televisions, computers, phones, clothes, they practically do not even think about it, that seems totally absurd to me.
But it's not something I can counter, nor do I plan to do so, of course. But, really, just reading that sentence left me with a lot of things to think about, analyze, and make the best of it, because I saw a lot of logic in it really.
