If Money Doesn't Make You Happy Then You Probably Aren't Spending It Right
Money and happiness are explored through eight principles - experiences over things, prosocial spending, small pleasures, less insurance, delayed consumption, considering the overlooked, caution in comparison, and social influences.
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Well, ample research shows that experiences (vacations, restaurant meals, sporting events, concerts, courses, learning a new skill) tend to induce more joy than new possessions (cars, houses, tablets, clothing, furniture, televisions, dishwashers).
People who have more money are not necessarily happier—though some are. If anything, money alleviates sadness more than it inspires joy. In day-to-day living, beyond a modest income, more money doesn’t help. But research reveals that those who live with purpose and embrace the adaptive self tend to be more content. In that case, money—when spent wi
... See moreIt’s not a matter of having more wealth; even a queen gets used to her riches. Instead, it’s about consciously spending your money in ways that will increase personal happiness. The study’s first recommendation is to buy more experiences and fewer things.