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.
scholar.harvard.eduIn reality, the 2010 study by Deaton and Kahneman found that “emotional well-being” peaks at $75,000. But if you take another measure, “life satisfaction,” you find no plateau—not at $75,000, or $500,000, or even $1 million.
As a first step, work less, earn less, accumulate less, and “consume” more family time, vacations, and other enjoyable activities.
Yet psychologists report that those who attach great importance to achieving wealth tend to suffer above-average unhappiness and disappointment.21
What should not matter in a perfectly rational world? Sale prices or “savings,” or how much we’re spending at the same time on something else (relativity) The classification of our money, where it came from, and how we feel about it (mental accounting) The ease of payment (pain of paying) The first price we see or previous prices we’ve paid for a p
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