I just finished reading this book while taking a train for a weekend vacation. To your point, he mentions that if spending money doesn't make you happy, it's because you're spending it on the wrong things. You shouldn't spend money to get the respect of others, because it's fleeting, causes envy, and is the fast food of getting respect. You need to spend money in ways that give you new experiences until you discover what kind of spending DOES make you happy.