“It’s expensive to be rich,” writes Morgan Housel in his latest book, The Art of Spending Money, released on Oct 7. Housel, bestselling author of The Psychology of Money—already translated into Nepali—returns with a timely and insightful exploration of a topic often overlooked in personal finance: not how to earn or save money, but how to spend it wisely.
While countless books guide us on earning and investing, Housel argues that very few discuss what to do with money once we have it. He emphasizes that spending is not a science with fixed rules, but an art shaped by emotion, culture, and personal values. “Art can’t be distilled into a one-size-fits-all formula,” he notes. “It is complicated, often contradictory, and covers individuality, greed, jealousy, status, and regret.”
The book’s central message is simple: money can improve life—but only when used intentionally. Housel shows how money often becomes a measure of status rather than a source of happiness. Many spend to impress others or keep up appearances, yet true fulfillment comes from independence, meaningful experiences, and strong relationships. A larger home or nicer car only brings joy when it enables real connection—not merely to showcase wealth.
Housel also warns against the psychological traps of wealth. “Money will use you if you don’t use it intentionally,” he writes, highlighting how unchecked desire can distort priorities and identity. There is no universal rule for spending wisely: what brings happiness to one may feel unnecessary to another. The real challenge lies in understanding our own desires and aligning spending with what truly matters.
For Nepali readers, the book’s lessons resonate strongly. Social media, birthdays, festivals like Dashain and Tihar, and weddings often drive extravagant spending to “show up” for friends, neighbors, or peers. Housel’s call for mindful consumption encourages reflection: celebrate traditions and enjoy life, but spend to enrich your life—not to impress others. Simple budgeting, thoughtful gifting, and prioritizing long-term goals over social display can lead to greater contentment.
The Art of Spending Money is not about frugality. It is about living intentionally. The take-home message is clear: use money to make yourself happy, not to show others. True wealth lies in freedom, purpose, and the joy that comes from thoughtful choices, not appearances.
