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“Spending money on others provides a bigger happiness boost than spending money on yourself.”—Elizabeth Dunn

Happy Money

Happy Money

by Elizabeth Dunn

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1.52K reads

Short Summary

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

Buy Experiences

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 stadiu...

Make It A Treat

• 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 tha...

Buy Time

• 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...

Pay Now,Consume Later

• 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.

Credit cards?

• Simple: Don’t use them. You be able to enjoy the anticipat...

Invest In Others

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 ...

How Can We Apply These Principles?

• 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

...

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