We are discussing Morgan Housel's new book, The Art of Spending Money, and exploring the psychological and practical challenges of how we spend money to maximize happiness and utility. We dive into the core concepts of the book, contrasting the typical financial focus on accumulation with the crucial art of mindful spending. We discuss how our individual life experiences deeply influence our money stories, leading to the insight that "all behavior makes sense with enough information." The discussion includes a debate on whether spending is driven by genuine utility or simply the desire to impress others, and the powerful role of managing expectations as a key to increasing contentment and wealth.

Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/136-the-art-of-spending-money-morgan-housel-book-review/