Prince Rahul's Key Ideas from Happy Money
by Elizabeth Dunn

• 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.

Credit cards?

• 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.