Morgan Housel is a partner at Collaborative Fund and author of The Art of Spending: Simple Choices for a Richer Life. Here, he tells Kiplinger Personal Finance Magazine that while there's no magic formula for spending wisely, "minimizing regret" can help you make smarter choices.
The title of your new book is The Art of Spending. How is spending money an art?
MH: It’s an art because it’s not a science. I wish I could say, here’s how everybody should spend, but I don’t think a formula for how everyone should spend exists. The spending that works for me and makes me happy might be wrong for you, and vice versa.
