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The key message in this book: How to spend money for happiness:
1. Buy Experiences
2. Make it a Treat
3. Buy Time
4. Pay Now, Consume Later
5. Invest in Others
• Spend less on material things such as cars and electronics and use your cash to have experiences, like attending an open-air concert or having dinner out.
• Experiences create memories. Each time we enter a concert hall or baseball stadium, we’re filled with sights, sounds and smells that stimulate our senses.
• And when we think about our memories, we’re able to relive that experience and feel happy again.
• When something is abundantly or easily available to us, we appreciate it less.
• This means that even your favorite things, like a morning cup of hot coffee, can become less pleasurable if you indulge too frequently.
• By LIMITING YOUR ACCESS to the thing that brings you pleasure, you will paradoxically increase its impact.
• Having money can help you save time by outsourcing chores, for example, such as house cleaning to a service provider, so you don’t have to dust and mop yourself.
• With money, you can also purchase time-saving goods.
For example, if you love reading and listening to music, you can buy yourself an e-reader and better headphones so that you get more from these activities.
• The greatest pleasure we gain from a purchase lies in the anticipation of that purchase. Studies show that vacationers tend to be happier in the weeks before a trip than on the trip.
• Simple: Don’t use them. You be able to enjoy the anticipation of a purchase while you save.
• Other people’s happiness is contagious: when we see the smile of someone to whom we’ve just given a gift, we too feel happy. This deepens our connection with that person.
• Donating your money to others is that it also makes you more motivated at work, as you know you’re working for a salary that will make a difference in other people’s lives.
• First, be aware that these principles aren’t mutually exclusive: apply as many of them as possible for the maximum boost to your happiness.
For example, if you treat a friend to a delicious cappuccino, you’re both giving a gift and spending on an experience – a happiness double-whammy
• Second, take a look at your expenses and see if you can reallocate some of your spending to happiness-increasing items.
• Third, start saving and investing money.
"A good curated idea should be like a girl's skirt; long enough to cover the subject and short enough to create interest."
“Spending money on others provides a bigger happiness boost than spending money on yourself.”—Elizabeth Dunn
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