The Psychology Of Money (Timeless Lessons On Wealth, Greed And Happiness) Order Printed Copy
- Author: Morgan Housel
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About the Book
"The Psychology of Money" explores the complex relationship between money, wealth, greed, and happiness. Author Morgan Housel provides timeless lessons on how individuals can navigate their personal finances and make better decisions based on understanding their own psychology and behaviors. The book delves into the importance of managing emotions, avoiding common pitfalls, and prioritizing long-term financial well-being over short-term gains.
Eric Liddell
Eric Henry Liddell was born on 16th January 1902 in Tientsin (Tianjin) North China, second son of the Rev. & Mrs. James Dunlop Liddell who were missionaries with the London Mission Society.
He was educated from 1908 to 1920 at Eltham College, Blackheath, school for the sons of missionaries. Eric, with his older brother Rob, were left at their boarding school while their parents and sister, Jenny, returned to China.
During the boys’ time at Eltham College, their parents, sister and new brother Ernest came home on furlough two or three times and were able to be together as a family – mainly living in Edinburgh.
Although born in China and educated in England, Eric Liddell lived in Scotland at various times during his life.
In 1920, Eric joined his brother Rob at Edinburgh University to read for a BSc in Pure Science.
During this period he played rugby for Scotland and trained to run at the Olympics.
Athletics and rugby played a large part in Eric’s University life. He ran in the 100 yards and the 220 yards for Edinburgh University and later for Scotland. He played rugby for Edinburgh University and in 1922 played in seven Scottish Internationals with A.L. Gracie.
Eric Liddell was a gifted rugby player and played for the Edinburgh Univerisity 1st XV team.
He also played international rugby for Scotland and gained seven international caps as a wing-threequarter, scoring four tries thanks to his searing pace.
As a result of having insufficient time for both running and rugby, he chose the former, aiming for the 100 meters in the Paris Olympics. When he learned that the heats were to be run on a Sunday, he switched to the 400 metre competition as he was not prepared to run on a Sunday.
He won a gold medal for the 400 metres and a bronze medal for the 200 metres at the Paris Olympics.
He also travelled briefly to the USA in 1924 to compete in an athletics tournament. He returned to Edinburgh after the Paris Olympics and he graduated from Edinburgh University.
Eric Liddell lived for a short time in Gillespie Crescent before moving to a house in Merchiston Place.
Recollections of Eric Liddell By Sir Arthur Marshall
The Cambridge University Athletics Club had an invitation from Pennsylvania to take a team of seven to the Pennsylvanian Games in March 1924, and I was one of the seven. Eric Liddell, the Scot from Edinburgh University, the 1923 AAA 100 yards Champion, had been personally invited and travelled with us. We stayed at the very comfortable Pennsylvanian Cricket Club. I am afraid none of, including Eric Liddell, managed to win an event at the Pennsylvanian Games.
We travelled back in a small slow ship of the American United Line called ‘The Republic’ – a ten day crossing. Eric Liddell entered in the fun and games on the boat, including the Fancy Dress Dance. Whilst he was very strict about religion. Eric and I became good friends and saw much of two American sisters, Freddie and Edith, who were travelling to ‘do Europe’, including the UK. They said they were going to be in Paris for the Olympic Games, and we said if we were there at the same time we hoped we could meet.
Harold Abrahams had set his whole life on winning the Olympic 100 Metres – it had become and obsession with him. Liddell’s achievement in winning the 1923 AAA 100 Yards in the record time of 9 7/10 seconds was a devastating blow to Abrahams and shook him to the core. To date Abrahams had been a consistent 10 seconds 100 yards winner but had only slightly broken 10 seconds on one or two occasions. He knew in the Olympics he would be up against overseas competition, particularly from the Americans, but this new and very serious opposition out of the blue and on his doorstep had come at a time when Harold had established his 100 yards supremacy in the UK. To achieve level pegging with Eric Liddell’s new record time, Harold had to improve his performance by two or three yards with the help of his trainer Sam Mussabini. It must have been a tremendous relief to Harold when it became known early in 1924 that Eric had decided to concentrate on the 400 metres and, because of his religious principles, would not compete in the Olympic 100 metres as first heats were always run on Sunday.
Eric had in turn become completely dedicated to winning an Olympic Medal within the restrictions of his faith. He was a famous Scottish international rugger player, and gave up his rugger to enable him to concentrate on his Olympic ambitions, which became very deep-rooted, and his work suffered. Winning an Olympic Gold Medal became a priority, second only to his religion, and the ambition to win this event became part of his religion.
Recollections of Eric Liddell By Sir Arthur Marshall
The team travelled to Paris days before the Olympics started and had a big send-off at Victoria Station.
The silence at the start of the 100 metres and 400 metres was quite electric. Harold Abrahams won the 100 metres in a new Games record time.
In spite of all that has been said about Abrahams’ 100 metres, the 400 metres in some way provided the greatest thrill of the meeting with the world record being broken by Eric Liddell three times in two days. It was thought that Liddell had some chance of winning, but nobody thought Liddell capable of the amazing performance he achieved in the final. As far as the crowd were concerned they were well informed about Liddell’s dedication to his religion and his refusal to run in the first round of the 100 metres on the Sunday; they also knew of his determination to win this event. The occasion was enlivened by the support given to Liddell by the pipes and drums of the Cameron Highlanders.
The silence and pent-up excitement at the start of the race could be felt. Liddell went ahead at the start and maintained his pace throughout, finishing in what at the time was described as ‘a most lion-hearted manner’ winning by three yards from Fitch, an American. This was probably the greatest achievement of the VIIIth Olympiad, and superlatives were showered on Liddell by the press of the entire world. Liddell was short and not a pretty runner but just pounded along virtually at the same pace all the way, with a finish as if he was making a final dash for a try in a rugger match with an opponent bearing down on him and about to tackle from behind.
After Eric had won the 400 metres Gold Medal, Eric and I made contact with Freddie and Edith, the American sisters, and took them to a Tango Tea Dance in the Champs Elysees.
Footnote: Along with sacrificing his place in the 1924 Olympics 100m, Eric Liddell also gave up two other races in which Great Britain held high hopes of winning gold that year – the 4 x 100m and 4 x 400m, whose finals also took place on a Sunday.
After the Olympics
After the Olympics and his graduation, he returned to North China where he served as a missionary from 1925 to 1943 – first in Tientsin (Tainjin) and later in Siaochang. During his first furlough in 1932 he was ordained as a minister.
1930 - 1932
On furlough from China studying at Congregational College. After completing his studies he was ordained as a minister on 22nd June 1932. During this time he lived in a hostel in George Square which belonged to the Edinburgh Medical Missionary Society.
During these periods Eric Liddell attended Morningside Congregational Church at the corner of Chamberlain Road and Morningside Road.
Morningside Congregational Church
The Church building (pictured here on the right) was originally built for North Morningside United Presbyterian Church who used it until 1881 when it became too small. They then built a new, larger, church on the other side of the road (which is now the Eric Liddell Centre).
From 1881 the old church was home to the Morningside Athenaeum Club before the Congregational Church purchased it in 1890.
In 1928 this church was demolished and a new one erected (which is now Morningside United Church).
Eric Liddell would have attended meetings in both buildings during his two extended stays in Edinburgh. The old church from 1920 to 1925 and the current building (Morningside United Church) from 1930 to 1932. He also preached at the church on a number of occasions.
On his return to China, he married Florence Mackenzie (of Canadian missionary parentage) in Tientsin in 1934. They had three daughters; Patricia, Heather and Maureen, who now all live in Canada.
Living in China in the 1930s was potentially very dangerous and in 1937 Eric was sent to Siaochang where he joined his brother Rob. He was now crossing the Japanese army lines.
In 1941 life in China was becoming so dangerous that the British Government advised British nationals to leave. Florence and the children left for Canada.
During 1941 – 1943 Eric stayed in Tientsin, then in 1943 he was interned in Weishien camp until his death in 1945.
The Eric Liddell Centre
The United Presbyterian Church merged with the Free Church of Scotland in 1900 and then, in 1929, this merged with the Church of Scotland.
The United Presbyterian Church built in 1879 became known as Morningside North parish Church. By 1980 the building was no longer in use and became the Holy Corner Church Centre.
This was an initiative of the three remaining churches at Holy Corner: Morningside United Church (a merger between the Congregational and Church of Scotland congregations and in joint membership of the United Reformed Church and Church of Scotland), Christ Church (Scottish Episcopal Church) and Morningside Baptist Church.
As the project developed the centre’s name was changed to The Eric Liddell Centre in recognition of his involvement in the life of one of the founding churches and the local community during his time living here.
What Keeps Couples Apart
Several months ago, as my wife’s birthday approached, I was thrilled to discover that a band she likes had plans to play next year in a nearby city. I booked good seats, spending a bit more than I normally would on birthdays, and began anticipating her reaction. On the morning of her birthday, she opened my gift, saw the concert tickets, and immediately began (to my surprise and consternation) to laugh. Hard. When she could draw a breath again, she reminded me that we had already booked tickets for this exact concert: same night, same venue. At which point I remembered that, oh yes, we had indeed done so months earlier. A long COVID postponement had pushed the concert entirely out of my mind. Now we had four expensive tickets. And — to add insult to injury — the birthday seats I had booked weren’t quite as good as the ones we had already booked together. Thankfully, my wife was able to laugh at my mistake. But of course, it was also a bit hurtful, given that I had entirely forgotten a special plan we had made together. Resilient Intimacy As my wife and I reflected later, we realized that we know married couples for whom my gaffe would have resulted not in laughter but in a blow-out argument — for whom it would have become not an amusing story but a major incident. For the wives, it would have constituted Exhibit A of her husband’s callous disregard, and the story would have been repeated (often) with bitterness, anger, and disgust. For their part, the husbands likely would have doubled down, not apologizing or daring to admit fault. We wondered what makes the difference in our case, why our marriage can weather small slights, stupid oversights, inconveniences, poorly chosen words, clashes of opinion, and sins of attitude and action against one another. And I think an important part of the answer is marital intimacy. By marital intimacy, I mean a depth of mutual knowledge and affection between a husband and wife, a marriage in which both spouses enjoy sharing experiences, emotions, ideas, and sexual romance with one another. Our own marriage is certainly a work in progress, and I’m not half the husband I ought or want to be, but through God’s goodness we have tasted this intimacy and desire more. Obstacle to Intimacy: Busyness Despite the beauty and blessedness of true intimacy, I’ve encountered numerous obstacles to it — both in my own marriage, and in years of counseling married couples. One of the most common is busyness. If intimacy involves shared experiences, emotions, ideas, and sexual romance, it’s going to require significant time together. You can’t fit it into fifteen-minute increments here and there. For many married couples, however, time is in short supply. Work commitments, household chores, church involvement, transporting kids to their activities — all these good responsibilities fill our lives and keep us traveling in different directions. When a husband and wife pass like ships in the night, there’s not sufficient time to go deep beneath the surface. Obstacle to Intimacy: Lack of Effort A closely related obstacle is a lack of effort invested in cultivating intimacy. Perhaps this is, in part, a function of our culture’s misguided idealization of relationships, in which the dream scenario is to find our soul mate and experience an instant, magical, effortless depth of relationship. We’re disillusioned when we find it doesn’t work that way. A more realistic guide for marriage comes from Hebrews 10:24, which speaks generally of relationships within the Christian community. The English Standard Version translates the verse as, “Let us consider how to stir up one another to love and good works.” But a more literal translation would be, “Let us consider one another, unto the stirring up of love and good works.” Note the subtle but significant difference. The author of Hebrews urges us to consider not mainly a project (how to stir up others) but people (“one another”). The word consider suggests direct observation of something, together with deliberate thought about it. Since Christian community requires such careful thought toward one another, surely marriage does all the more. We’re to consider our spouse, to observe and ponder this person, to become world experts so that no one knows him or her better. Like any field of research, this long-term course of spousal study requires energy, focus, and attention. Failure to put in the work rules out the reward of intimacy. Obstacles Under the Obstacles Although lack of time and lack of effort are both significant obstacles, they’re not the only ones, and certainly not the deepest. In general, barring other factors, we allocate time and effort to the pursuits we really care about. If we’re passionate about the latest Netflix show, the model railroading club, or the soccer league, we make time and engage deeply. So what prevents this same investment in our marriage? I’ve found that there are usually obstacles under the obstacles. One of the deepest is selfishness. True intimacy with a spouse requires time, work, vulnerability, and sacrifice. It’s a whole lot easier to avoid those costs, particularly if they obstruct our other aims and desires. Sometimes, at the end of a day, when I’m tired of talking and prefer to be silent, the best way to serve my wife is through conversation. At other times, the situation is reversed, and I’m the one who needs a listening ear. Our responses in such moments (and in thousands of other ones) will move us either toward or away from intimacy. “True intimacy with a spouse requires time, work, vulnerability, and sacrifice.” Ignorance also cripples intimacy. We may long for emotional, relational, and sexual intimacy in marriage, but we’ve never seen such intimacy modeled or learned about it from others. To many, intimacy is a mystery, a foreign land, and we have no map, no idea of how to get beneath pleasantries or functional conversations in order to explore another person’s heart. When we find time alone with our spouse, we remain in the rut of “calendar and kid” conversations. Or perhaps the obstacle we face isn’t ignorance but insecurity; we’ve been badly hurt in other relationships and have walled off certain areas of emotional intimacy as no-go zones in order to protect ourselves. We’re not sure how (or if) we could ever open those corners of our lives to another person again. Finally, one of the most serious obstacles to intimacy is a lack of forgiveness. When one or both spouses have been hurt by the other, and that hurt hasn’t been addressed, repented of, and covered with grace, resentment rankles. Each subsequent interaction is freighted with past pain, interpreted through a lens of suspicion. Bitterness accumulates, undercutting intimacy. How to Pursue Marital Intimacy So then, in the face of several significant obstacles, how might we move toward marital intimacy? VISION FOR INTIMACY A crucial first step is seeing and celebrating intimacy in marriage as a precious and desired goal. We would do well to remind ourselves that marriage is a picture of the relationship between Christ and the church, and that therefore the emotional, intellectual, experiential, and sexual intimacy of husband and wife reflects and expresses the intimate love between Christ and his people. Ephesians 5:28–31 teaches that Christ “nourishes and cherishes” the church, that husbands are to “love their wives as their own bodies,” and that husbands and wives become “one flesh” with one another. These are attractive and compelling visions of intimacy. SOURCE OF INTIMACY Once we desire this intimacy, how do we attain it? We can start by asking God for help. He is glorified when our marriages express the intimate love between his Son and his people. So, when we ask him for help in this area — sincerely and persistently — he will answer. Sometimes he’ll grow us in pleasant ways, and sometimes in painful ways. Seasons of suffering can deepen and sweeten our relationships. “God is glorified when our marriages express the intimate love between his Son and his people.” Early in our marriage, my insecurities and anxieties were exposed to my wife in a particularly painful way over the course of months, and she consistently responded to my vulnerability with tenderness and compassion. Her patient love set a tone for our entire marriage that continues to this day. INTIMACY IN COMMUNITY God will act on our behalf, but he also calls us to action. It may seem paradoxical, but one of the most important means of pursuing marital intimacy is surrounding our marriages with other people. True marital intimacy requires an inner core of the gospel and an outer context of Christian community; intimacy must be sourced by good news and surrounded by church. In community, our sins of selfishness and unforgiveness are lovingly identified, prayed for, and challenged. In community, we’re given examples of healthy, intimate marriages from which we can learn, and that we can imitate. Those marriages provide a road map for ours. Marriage counseling with a wise and godly couple is great, but so is simply spending time with them and observing their interactions in everyday life. We can see for ourselves how communication happens, conflicts are resolved, courtesies are extended, and collaboration in ministry is enjoyed. If your marriage is stale and superficial, why not commit to diving deeper into the gospel and into a gospel-saturated community of believers? What’s Wrong in My Marriage? If Christian community is the nurturing context for marital intimacy, the gospel is the necessary core. Only the gospel can fully address our in-built selfishness, lack of forgiveness, and insecurity — those obstacles under the other obstacles. The gospel draws our hearts to Christ, who surrendered himself to death for our sake and took our punishment upon himself. As we soak in that good news, we experience the magnificence of God’s love and the magnitude of our own sin. I once asked a warring couple to identify the main problem in their marriage, and then listened for 45 minutes as each spouse pinpointed the failings of the other. For each, their spouse’s sin was the real problem. The other’s failings were big; theirs were small. The gospel devastates that warped view, because it tells us that the Son of God had to die for our sin. But the gospel also announces that, in Christ, we’re forgiven, cleansed, and treasured by God. God sees, knows, and loves us. So maybe it’s possible for another human being to do the same. True marital intimacy is a precious jewel to be prayed for, prized, and pursued. It’s worth the work. Article by Stephen Witmer