Money: Happiness Vs Misery - Deepstash
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Money: Happiness Vs Misery

  • Happiness is a really difficult topic to study, because it’s subjective, unstable, and intangible.
  • Affluence has a certain impact on our well-being when it comes to satisfying our basic needs and standard of living, but in general, research shows that it is a weak predictor of happiness.
  • Researchers agree on is this: there are ways to spend our money that are more likely to elicit joy.

MORE IDEAS FROM THE SAME ARTICLE

The things we buy might make us happy in the moment, but that feeling fades away over time. This phenomenon is called the “hedonic treadmill."

We get used to things that we have, and when new, more attractive things catch our eye, we feel like we need to keep getting more ...

The debate about how material belongings can get in the way of our happiness dates back hundreds of years:

  • The Buddha talked about a balance between asceticism and pleasure.
  • Early Christian monasticism preached spiritual transformation through simple living.
  • Philoso...

  • Even this may not sound like a practical thing to do, an intangible experience can often bring you joy for longer than a physical object.
  • Experiences are short-lived, but not in a psychological sense. They live on in our memories, they live on in the stories we recall and tell - th...

People who think of their time as a limited resource are more likely to derive joy from life’s simple pleasures (talking to a friend for example).

Also, if you’re spending money on a time-saving purchase, use those extra minutes to do something that lifts your mood...

Time famine is something experienced by people across all income levels.

People who feel time-constrained are more stressed, less likely to spend time helping others, and less active. This is also one of the main reasons people give to explain why they’re not exercising regularly or eating...

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Adaptation and happiness

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.

There are five different types of financial personalities, each of them having their own set of values and outlook towards money:

  • The Big Spenders: The ones who place a high value in their possessions, and identify their worth with the things they can buy, at any cost.

Money: a store of productive time

We're commonly told that money is a "store of value," meaning a storehouse of past effort to use for future purchases. Really, money is a store of (productive) time.