- There is a correlation between the number of hours of free time one gets and their life satisfaction.
- People's free time might be less fulfilling if they can't spend it with others.
- People with a lot of free time tend to feel low in self-esteem.
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It is your time, doing what you want to do. People like to use their discretionary time with activities like watching TV, socializing, going to the mall or movies, spending time with their loved ones, or just doing nothing.
Discretionary time is the variable that decides how happy one is in their life.
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When a person experiences something negative, they will blame the circumstances. When something negative happens to another person, they will blame the individual ...
A possible reason is that when people are the actors in the situation, they are blind to their own actions.
When they are observers, they can easily spot the behaviors of other people.
The actor-observer bias can often lead to misunderstandings and arguments.
In an argument, both sides my respond that the other person started it. Each side thinks their own behavior is because of the situation, but the other's behavior is because of their character. They may think the other person is unkind while they are fighting because they were attacked.
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Adaptation is the enemy of happiness.
We buy things to make us happy. And they do, but only for a while. New things are exciting to us at first, but then we adapt to them.
Objects fade and become part of the new normal. So you’ll get more happiness spending money on experiences like going to art exhibits, doing outdoor activities, learning a new skill, or traveling.
Experiences really are part of ourselves. We are the sum total of our experiences.
They connect us more than shared consumption.
Even if someone wasn’t with you when you had a particular experience, you’re much more likely to bond over both having hiked the Appalachian Trail or seeing the same show than you are over both owning Fitbits.
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It starts with knowing what your time is worth. For instance:
We all have some idea of how much our time is worth. On extreme ends, it is easy to know if a task is worth your time. For instance, if someone offers you $0.07 per hour and another $7,000 per hour, you would have no problem to decide.
However, in the middle of the time-value spectrum, it is less clear if a particular task is worth your time. While everyone has an hourly value, few people know the exact amount.
Use the Realized Income Methods to calculate the value of your time. It is based on the income you received and will help you make better decisions on how to spend money day-by-day. You need two numbers for your calculations.