Happy Money: The New Science of Smarter Spending (Paperback)
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DescriptionAfter a fairly low threshold, income and material wealth have no measurable effect on happiness. But how we spend our money does. In this groundbreaking book, Dr Elizabeth Dunn and Dr Michael Norton explain the secret to "happiness-efficient" spending. Using their own cutting-edge research, they reveal: * Why it's better to buy concert tickets instead of a new iPhone * Adverts actually make television more enjoyable * Why you should book your next holiday many months in advance * How "time affluence" is more important than a fat pay cheque * Why charitable giving is the best investment you can make A rare combination of informed science writing, wit, and practical pointers for a flourishing life, Happy Money will help you to be more fulfilled for less.
- Published: 07 June 2013
- Format: Paperback 224 pages
- ISBN 13: 9781851689989 ISBN 10: 1851689982
- Sales rank: 63,197
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Reviews for Happy Money
A new approach to money and happiness
In this fascinating book, Elizabeth Dunn (a psychologist) and Michael Norton (a marketing expert) look at their research on our views of money, how we spend it and how what we spend it on can increase or decrease our happiness. As we currently find ourselves in a demanding period of financial scarcity, the book is a timely aid to help the reader spend their money in a way that brings maximum happiness.
The authors seek to demonstrate that how we spend our money can have biological and emotional effects that feed directly into our health and wellbeing. Some of the long-held truths about money prove to be erroneous and this is proved through the findings of some innovative research. Some of the findings of this research reflect things IΓΖΖΓβΓΒ’β¬β’m sure weΓΖΖΓβΓΒ’β¬β’ve all suspected from time to time, but having this proved scientifically (and sometimes biologically) makes for a powerful read.
Happy Money puts forward five strategies which aim to help the reader (whether an individual, a business or a charity) use the money they have to increase their happiness levels. These strategies are:
ΓΖΖΓβΓΒ’β¬ΓΖβΓβΓΒ’ Buy experiences ΓΖΖΓβΓΒ’β¬β rather than consumer goods;
ΓΖΖΓβΓΒ’β¬ΓΖβΓβΓΒ’ Make it a treat ΓΖΖΓβΓΒ’β¬β saving something for a special occasion makes you enjoy it more;
ΓΖΖΓβΓΒ’β¬ΓΖβΓβΓΒ’ Buy time ΓΖΖΓβΓΒ’β¬β rather than sacrificing time in an effort to save money;
ΓΖΖΓβΓΒ’β¬ΓΖβΓβΓΒ’ Pay now, consume later ΓΖΖΓβΓΒ’β¬β a bit of anticipation leads to greater enjoyment; and
ΓΖΖΓβΓΒ’β¬ΓΖβΓβΓΒ’ Invest in others ΓΖΖΓβΓΒ’β¬β donating to charity and helping others reaps rewards in happiness for the donor as well as the recipient.
The book devotes a chapter to each of the above concepts and by putting forward evidence of research outcomes and anecdotal tales convinces us of their truth. The final chapter attempts to apply these strategies to the spending done by governments.
I found Happy Money very interesting and felt that it presented its case in a clear and accessible way. In particular I felt that the use of anecdotes about real individuals and businesses perfectly illustrated some of the abstract issues under discussion. The touches of humour spread throughout the book also felt natural and lightened what could, without them, have been a much dryer book.
I didnΓΖΖΓβΓΒ’β¬β’t consider that the final chapter on government spending worked as well as the previous sections, but that is probably to be expected as itΓΖΖΓβΓΒ’β¬β’s a much more complex area with more depending on it.
I greatly enjoyed the book and was totally convinced by its arguments. And since reading it have been aware of reflecting on my spending choices in relation to the five strategies. As I write this review it is mid-November and the spectre of Christmas present buying is looming large, however by applying the lessons of this book IΓΖΖΓβΓΒ’β¬β’m hoping to make myself and the recipients happier with my choice of gift. Of course, I could just buy everyone a copy of Happy Money! by CuteBadger