Happy Money The Science of Smarter Spending (Audible Audio Edition) Elizabeth Dunn Michael Norton BJ Harrison Audible Studios Books
Download As PDF : Happy Money The Science of Smarter Spending (Audible Audio Edition) Elizabeth Dunn Michael Norton BJ Harrison Audible Studios Books
If you think money can't buy happiness, you're not spending it right. Two rising stars in behavioral science explain how money can buy happiness - if you follow five core principles of smarter spending.
Happy Money offers a tour of new research on the science of spending. Most people recognize that they need professional advice on how to earn, save, and invest their money. When it comes to spending that money, most people just follow their intuitions. But scientific research shows that those intuitions are often wrong.
Happy Money explains why you can get more happiness for your money by following five principles, from choosing experiences over stuff to spending money on others. And the five principles can be used not only by individuals but by companies seeking to create happier employees and provide "happier products" to their customers. Elizabeth Dunn and Michael Norton show how companies from Google to Pepsi to Crate & Barrel have put these ideas into action.
Happy Money The Science of Smarter Spending (Audible Audio Edition) Elizabeth Dunn Michael Norton BJ Harrison Audible Studios Books
I really loved this book. I heard about it from Tim Ferris podcast-fourhourworkweek. He said that he is trying spend more time with his parents as their time on earth is limited as they get older and he changed his attitude about spending money and time from the book.I ordered it and read it. My takeaway is that I never consciously related happiness with spending money besides the obvious material things. The five principles of happy money are :1. buy experience vs. materials (buyer remorse occurs with materials rarely with experience) 2. buy time (don't spend 4 hours in a layover to save a hundred bucks) spend money so you could have more time to do things you enjoyed. 3. Make it a treat(if you have latte every day is no longer a treat but if you have it only Tuesday, that changes)4. pay now , consume later( it means buy things that you experience positive expectations I.e. Vacation, also called the French term Se Rejouir getting pleasure now from something that will happen in the future or also called the drooling factor. And 5. invest in others, pay it forward, studies after studies show giving makes you happier then always spending on yourself.
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Happy Money The Science of Smarter Spending (Audible Audio Edition) Elizabeth Dunn Michael Norton BJ Harrison Audible Studios Books Reviews
I loved the book and would recommend it. Frankly I got it because Mike was my professor at business school and I must say he was one of the best. He was young, energetic and super insightful. His class was one of my favorites and definitely one of the most memorable. How can you forget the chicken contact lenses case!
I feel like most people I know don't make purchasing decisions based on happiness but instead focus on what others are doing and frequently are influenced by ads that tell them how purchases would make them happy. From personal experience I have noticed that most of the time, such behavior doesn't produce a desirable effect and certainly nothing long-lasting. Luckily for us, there is enough new psyc science research that can help us be better at our decision making. This book tells great story and summarizes such research.
I started to implement some of the advice in the book. For example, people frequently enjoy planning and thinking about upcoming vacations much more so than the vacations themselves. So why not spend more time planning and plan them farther in advance, so that you can savor them more!
I liked that there were some simple practical tips to improve happiness. I did question some of the assumptions and while some of the conclusions and research left me puzzled I wasn't bothered enough to do my own research. I figure it was pretty easy to just try these in my own life and keep what worked for me. So far I have found it valuable.
Happy Money
The book, Happy Money The Science of Happier Spending by Elizabeth Dunn and Michael Norton, summarizes current research on how you spend money changes how happy and satisfied you are in life and affects your health and well being.
This is a wonderful book that explains how you can increase your happiness by spending on experiences with the people you value rather than spending on prestige belongings that many people think will make them happy.
According to the book, research shows that spending money on leisure activities like trips, movies, sporting events, gym memberships and the like leads to more happiness than buying expensive consumer and prestige items. Experiences tend to be appreciated more as time goes by whereas things tend to be less appreciated as time goes on as better things than they bought emerge. Experiences tend to make us feel more connected to other people which improves life satisfaction. When couples do exciting and novel things together, their relationships improve. Anything we do to make the time with our friends or partners special is money well spent. Experiences make memorable stories for retelling for years to come and give us a sense of who we are or who we want to be. Experiences can’t be compared to things purchased. Experiences that remind of us of the past and give us nostalgia, like going to a museum, watching an old movie, or hearing a favorite song, can bolster our vitality and reduce stress.
Research indicates people earning over $75,000 a year do not have an increase in happiness. High income individuals spend more time doing high stress activities like working, commuting, and shopping than those who make less. High income individuals view their time as highly valuable which makes them feel like they have less time. In contrast, buying time, called time affluence, increases happiness. You can gain time affluence by moving closer to work to reduce your commute, working in a job that requires less hours, or hiring people to do your yard work or cleaning.
Research shows that having expensive things does not bring happiness, health, or well-being. The University of Michigan found that those with cheaper cars had the same satisfaction driving them as people with expensive cars. Surprisingly, homeowners are not happier than renters, and are on average are 12 lbs heavier than renters. Those who simplify their lives by reducing their wardrobe, moving into a smaller abode, changing their consumption patterns, and reducing their stuff are happier. The enemy of appreciation is abundance; if we make everything we do special it will increase appreciation and happiness.
I highly recommend this book for people wanting more happiness, time, and life satisfaction. Five Stars.
I really loved this book. I heard about it from Tim Ferris podcast-fourhourworkweek. He said that he is trying spend more time with his parents as their time on earth is limited as they get older and he changed his attitude about spending money and time from the book.
I ordered it and read it. My takeaway is that I never consciously related happiness with spending money besides the obvious material things. The five principles of happy money are 1. buy experience vs. materials (buyer remorse occurs with materials rarely with experience) 2. buy time (don't spend 4 hours in a layover to save a hundred bucks) spend money so you could have more time to do things you enjoyed. 3. Make it a treat(if you have latte every day is no longer a treat but if you have it only Tuesday, that changes)4. pay now , consume later( it means buy things that you experience positive expectations I.e. Vacation, also called the French term Se Rejouir getting pleasure now from something that will happen in the future or also called the drooling factor. And 5. invest in others, pay it forward, studies after studies show giving makes you happier then always spending on yourself.
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