Some Thoughts on the Book Happy Money
Finally! A book packed with insight on how to make the best use of our money. We’ve all heard plenty of anecdotes here and there, but Happy Money: The Science of Happier Spending breaks down the “why?” on many of those intuitions we have about spending money. What are things to spend money on that maximize happiness? Dunn & Norton talk about the 5 Ways in which money is “well-spent.” In the book, they devote a chapter to each of these ideas. Here’s a high level overview:
- Buying Experiences: This is one that many of us have heard. The authors spend a lot of time explaining why buying experiences generate a lot of happiness
- Making Purchases a Treat!: Understand a bit more why “treating” yourself more regularly can be an effective way of getting more enjoyment out of the little things we spend money on.
- Buying Time: Time is money, right? The book examines how using money to live closer to work (save on commuting time) to having chores done is a very effective use of it.
- Paying Now, Consuming in the Future: Building anticipation about what we’ve spent money on – whether a vacation or show really gets us excited about the future!
- Investing in Others: It turns out that it doesn’t matter how much you give, but spending on others generally makes us feel good! Shameless plug for my own blog on charitable giving.
Looking for some other good reads? Check out my recommended reading list.
Jim is a financial advisor and owner of Thinking Big Financial, Inc. Thinking Big Financial is a fee-only registered investment advisor offering financial planning and investment management services. Specializing in working with the LGBTQ Community.
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