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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In one recent experiment, for example, two groups of subjects were given a sum of money and instructed to spend it all in the next 24 hours.58 One randomly selected group was asked to spend the money on themselves; the second was told to spend it on others in need. When the subjects were tested a day or two later, those who gave to others were sign
... See moreYet psychologists report that those who attach great importance to achieving wealth tend to suffer above-average unhappiness and disappointment.21
If I make a lot of money, I’ll finally be happy
“When it comes to money and happiness, there is a glitch in our psychological code.”[1] He argues that this glitch is driven by our flawed extrapolation of the early-in-life happiness gains from increases in income—that we experience some of the positive impact of money on our well-being as children and young adults and then spend the rest of our l
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