- Paperback: 224 pages
- Publisher: Simon & Schuster; Reprint edition (May 20, 2014)
- Language: English
- ISBN-10: 9781451665079
- ISBN-13: 978-1451665079
- ASIN: 1451665075
- Product Dimensions: 5.5 x 0.6 x 8.4 inches
- Shipping Weight: 7.2 ounces (View shipping rates and policies)
- Average Customer Review: 152 customer reviews
- Amazon Best Sellers Rank: #36,947 in Books (See Top 100 in Books)
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Happy Money: The Science of Happier Spending Paperback – May 20, 2014
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"If you think money doesn't buy happiness, then you're just not spending it right. In this lively and engaging book, Dunn and Norton use the latest scientific research to show how you can get a bigger emotional bang for your hard-earned bucks. Happy Money isn't a purchase; it's an investment—and a shrewd one at that."—Daniel Gilbert, author of Stumbling on Happiness
“No one understands how to get more happiness out of our money better than Liz Dunn and Mike Norton. Their research is not only on the cutting edge—it changes where the edge is. Like stand-up comedians of science, Dunn and Norton take ordinary observations that everybody experiences and craftily distill them with a clarity that makes us laugh, and then makes us think. They have done us a great service by sharing their knowledge with us in the easy-to-apply principles they present in this book.”—Dan Ariely, author of Predictably Irrational
“How to spend smarter? Read this book!—a rare combination of informed science writing, rollicking good fun, and practical pointers for a more flourishing and compassionate life.”—David G. Myers, author of The Pursuit of Happiness
"Many books have been written to tell you how to make money, save money, and invest money. Now there's a book that can tell you how to spend it. Wisely."—Chip Heath, co-author of Made to Stick and Switch
"[Dunn and Norton's] infectious enthusiasm for their subject is admirable.... They provide an interesting exploration of increasing happiness by buying time, as well as ways to address budgeting."—Kirkus Reviews
"University of British Columbia psychology professor Dunn and Harvard Business School marketing professor Norton, friends from graduate school, offer a witty, lively guide to changing the philosophy behind spending so that it brings you true joy.... Readers cannot help but be charmed by this funny, warm guide to creating the good life from scratch."—Publishers Weekly
"This small, snappily written book is focused on five points, all directed at enabling people to get more bang for their bucks... Buy [this] book, read [it], take the advice [it] offer[s] to heart, and you’ll be a happier person."—Barry Schwartz, Los Angeles Review of Books
“Each of Dunn and Norton's five principles offers a scientifically validated means of increasing happiness. Like asking a surgical expert to perform your heart transplant, following their principles might be better than just winging it. And luckily, spending money is a lot easier and much less messy than major surgery.”—Guy Kawasaki
"Packed with tips...people will come away from this book believing it was money well spent."—The Economist
“Dunn and Norton strive to show how to spend money in less typical but more pleasing ways. They offer five principles you can use to buy happiness…. I love the five principles of happy money because they aren’t about getting more money but getting more out of the money you have.”—Michelle Singletary, The Washington Post
About the Author
Elizabeth Dunn is an associate professor of psychology at the University of British Columbia in Vancouver, Canada. At age twenty-six, she was featured as one of the “rising stars” across all of academia by the Chronicle of Higher Education.
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I ordered it and read it. My takeaway is that I never consciously related happiness with spending money besides the obvious material things. The five principles of happy money are :1. buy experience vs. materials (buyer remorse occurs with materials rarely with experience) 2. buy time (don't spend 4 hours in a layover to save a hundred bucks) spend money so you could have more time to do things you enjoyed. 3. Make it a treat(if you have latte every day is no longer a treat but if you have it only Tuesday, that changes)4. pay now , consume later( it means buy things that you experience positive expectations I.e. Vacation, also called the French term Se Rejouir getting pleasure now from something that will happen in the future or also called the drooling factor. And 5. invest in others, pay it forward, studies after studies show giving makes you happier then always spending on yourself.
The book, Happy Money: The Science of Happier Spending by Elizabeth Dunn and Michael Norton, summarizes current research on how you spend money changes how happy and satisfied you are in life and affects your health and well being.
This is a wonderful book that explains how you can increase your happiness by spending on experiences with the people you value rather than spending on prestige belongings that many people think will make them happy.
According to the book, research shows that spending money on leisure activities like trips, movies, sporting events, gym memberships and the like leads to more happiness than buying expensive consumer and prestige items. Experiences tend to be appreciated more as time goes by whereas things tend to be less appreciated as time goes on as better things than they bought emerge. Experiences tend to make us feel more connected to other people which improves life satisfaction. When couples do exciting and novel things together, their relationships improve. Anything we do to make the time with our friends or partners special is money well spent. Experiences make memorable stories for retelling for years to come and give us a sense of who we are or who we want to be. Experiences can’t be compared to things purchased. Experiences that remind of us of the past and give us nostalgia, like going to a museum, watching an old movie, or hearing a favorite song, can bolster our vitality and reduce stress.
Research indicates people earning over $75,000 a year do not have an increase in happiness. High income individuals spend more time doing high stress activities like working, commuting, and shopping than those who make less. High income individuals view their time as highly valuable which makes them feel like they have less time. In contrast, buying time, called time affluence, increases happiness. You can gain time affluence by moving closer to work to reduce your commute, working in a job that requires less hours, or hiring people to do your yard work or cleaning.
Research shows that having expensive things does not bring happiness, health, or well-being. The University of Michigan found that those with cheaper cars had the same satisfaction driving them as people with expensive cars. Surprisingly, homeowners are not happier than renters, and are on average are 12 lbs heavier than renters. Those who simplify their lives by reducing their wardrobe, moving into a smaller abode, changing their consumption patterns, and reducing their stuff are happier. The enemy of appreciation is abundance; if we make everything we do special it will increase appreciation and happiness.
I highly recommend this book for people wanting more happiness, time, and life satisfaction. Five Stars.
I feel like most people I know don't make purchasing decisions based on happiness but instead focus on what others are doing and frequently are influenced by ads that tell them how purchases would make them happy. From personal experience I have noticed that most of the time, such behavior doesn't produce a desirable effect and certainly nothing long-lasting. Luckily for us, there is enough new psyc science research that can help us be better at our decision making. This book tells great story and summarizes such research.
I started to implement some of the advice in the book. For example, people frequently enjoy planning and thinking about upcoming vacations much more so than the vacations themselves. So why not spend more time planning and plan them farther in advance, so that you can savor them more!