Crazy Rich Asians has burst into the scene right now because of the successful movie and all-Asian cast. It is also a guilty pleasure that gives you a look at the life of the ultra elite 1% of Asia, people who are not normally in the news nor do you know a lot of their lives and lavishness. With the new elite coming from the Far East buying property, stocks, and other Western luxury items, here are some money lessons I learned while reading the book, and watching the film:

5 Money Lessons from Crazy Rich Asians

1) Appearances can be deceiving

There are ultra rich people who still drive 10+ year old cars, wearing department store clothing, and holding modest and even old handbags. You may even call them frugal, and wonder if they are even worth a lot, but their bank account balances may bring you shame. These are the people who prefer to invest their money, and if they do want to spend, they spend on things that they want or maybe even experiences.

You may find these people in VIP areas of concerts, or in Europe, America, Africa, or Antarctica, seeing the world. You may be able to see them in the outlet stores, buying up a lot of stuff to bring home.

Lessons learned: You just don’t know who is crazy rich anymore in this day and age. Some people do end up buying luxury goods to enjoy their newfound wealth, but others, they prefer to just lie low. Who knows, your next door neighbor could be a crazy rich person too, or the millionaire (billionaire) next door! Or, the people you are snooty to at the hotel you are staying in may actually own said property!

2) Family is Everything

Even if you’re lucky enough to be born into an ultra-rich family which has a lot of rules for you to follow, always remember that family is everything. You can’t choose the family you are born into, and they are the only family you have, like it or not.

Small disagreements with your family can eventually become big rifts that may not be healed. If you end up falling in love with someone that your family disagrees with, then maybe the new love of your life can be your own family: even if you have to give up your life of wealth.

Lessons learned: while it is good that your family accepts the love of your life, sometimes they may not accept them and end up threatening to disinherit you if you come from money. Getting disinherited may not be such a bad thing as that can push you to build something that may be the start of your fortune. Your family may also come to their senses and you end up getting your share too. Either way, if you choose love over family, it’s all right: but know that your family is everything, crazy (or not) as they are.

3) Do not hide purchases from your partners/spouses/wives

In the book, Astrid, who has been introduced to her lavish lifestyle by her ex-fiance, Charlie, goes on a shopping spree to Paris, only to end up hiding it from her husband, Michael. Her husband comes from modest roots and does not really know how much her shopping sprees cost: so she thought.

Lesson learned: do not hide stuff or expensive purchases you may have made from your partners, spouses, or wives. Always discuss with them if you want to buy something expensive. Better yet, set a limit to the amount you can spend without a discussion. In our case, we have a $50 limit. Anything above that limit is being discussed. It may be a bit more or a bit less than that and we do have exceptions (like travel-related stuff), but know that an open discussion about money means a lesser chance of fighting and arguments about money!

4) Be comfortable in your own situation

While it may be nice to read about the lives of these crazy rich people, also know that if you strive to become rich yourself, know why you want to do it. Other people are passionate about a certain project and they become crazy rich because the product they ended up developing is life changing to other people, or their invention is truly groundbreaking.

If you are not as lucky, know what your ‘enough’ number is. There are people who just strive to become rich and live like they are rich, only to end up working until the day that they die for the sake of appearances. This is where the WHY comes in. Why do you want to become rich? Is it because you want your time back? Great. How much is ‘rich’ and ‘enough’ for you? It has to be a definite number otherwise, if you leave it open-ended like “I want to be a gazillionaire”, it may not end up nicely for you.

Lessons learned: if you end up getting a windfall, a huge inheritance or estate, or finding out that your long-lost father is actually elite and wealthy, be comfortable with what you have. The inheritance you may think you will end up with may not be yours after all.

5) Have fun with your money

Money is there to be used and spent on, after all. If living in Australia is your dream come true, fishing and getting on a boat most days, and if you can afford it and have enough to live on monthly: do it. If you want to live in a mansion and still have a lot more money coming in and more than enough for you to spend monthly or yearly, then enjoy your wealth: don’t be afraid to upgrade your computer or buy couture if you want to.

Lessons learned: Money is there not to be hoarded, but to give you time, comfort, and well, fun. What is it there for if you don’t use it, right? Business or first class tickets to Europe? Sure. A private plane? Hell yes. A mansion filled with a lot of gold leaf that it feels gaudy but it makes you happy? Why not? Bi-yearly trips to Paris to see fashion shows – sky’s the limit.

BONUS: Money can make the world go round

As you can see, if you have the money, it can definitely open a lot of doors for you. The sky’s the limit: purchase-power wise and experience-wise. There’s this one scene in the book where Astrid goes on her yearly meeting with her financial advisors, and even though she spends millions buying couture, the yearly income she earns from her investments still exceeds what she spends.

I was thinking: Gosh, that’s like financial independence but on a crazy scale. This must also be what Mark Zuckerberg, Bill Gates, and Jeff Bezos must be looking at every single year when they do their annual money reviews. They can spend money on things they want but still have so much coming in. On a normal person scale, if you have a sustainable lifestyle that covers your needs, with a few ‘fun’ money tossed in, you can have your investments cover your needs too. You don’t need to be crazy rich to experience it.

While the book is fun to read and imagine your life as a crazy rich person, every single person has their own problems too, and not everything may not be as it seems. While the book is a work of fiction, written to draw you in to a story that may or may not be inspired by true events, know that you can always find real life lessons from what you read, fiction or not: All you have to do is read between the lines and enjoy!

Are there any money lessons you have learned from books you may have read, fiction or not? If so, feel free to share some on the comments below!

Related Posts:

Book Reviews

Money Challenge Earning Passive Income for Basic Needs

Nonconforming Financial Independence

A Financial Independence Guide for Travelers

Why We Bought A House (even if we travel a lot)