Elizabeth Dunn and Michael Norton present a breezy (and short!) introduction to the science of happiness. Examining all the current research on the link between money and happiness, they come up with five principles that can increase satisfactions:
1. Buy Experiences
2. Make It a Treat
3. Buy Time
4. Pay Now, Consume Later
5. Invest in Others
Most people have increased happiness when they take a trip or go on vacation. Experiences tend to increase satisfaction. Boredom is the enemy of happiness. Treat yourself to something out of the ordinary and chances are you’ll feel better. Most people are time-deprived: we are constantly stressed by having too much to do. By giving ourselves more time–taking a day off, only checking email twice a day, etc.–happiness goes up. Anticipation increases happiness. Delaying consumption actually makes us happier than immediate consumption. Finally, investing in others–in a word, charity–makes us feel happier. Follow these principles and your happiness will go up! Check out Elizabeth Dunn below. GRADE: B+
Most of our money goes on travel for sure. And it does make me happy. Phil, too.
Yes, Buy Experiences does work! Even though travel these days has become an incredible hassle I still look back on the past traveling we’ve done with great satisfaction.
Jeff, a trip will bring most people more happiness than buying a new pair of shoes.
It’s the people on the trip and who we meet at the destination of travel that bring happiness, Patti.
As I do not care to fly and the train is very limited in routes and is also expensive, our travel is limited to driving trips. As for anticipation, I’m glad I went ahead and bought the books and CDs I have, rather than anticipating that one day I would do so. I think the thing that makes people over 50 happy is good health.
Rick, you’re right about good health. But, even when I was recovering from my knee surgeries, my mood was positive. Attitude is important.