Yep, I always knew it's entirely my own fault that I'm not happy. I just have to get better at spending money. Why didn't I think of that myself. I'll get out now and find myself a coach that will teach me all the tricks I need to know. After all if you can buy everything, why not the knowledge on how to get happy spending money? It's so easy once you look at it the right way!
If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
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Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#32Money is the most tricky thing men will ever face. Not talking about extreme poverty here, the following is what I've learned:
More money leads in almost all people to artificial value, short term superficial happiness, degradation of the soul. On the outside it looks great and shiny, but on the inside the soul starves and craves true happiness. Unfortunately, most rich people react unconsciously by spending more and more, in a desperate effort to fill the ever growing gap.
Longer term less money creates in almost all people higher valuation of the most simple and basic things, which translates to true happiness for the soul. Less money can restore happiness if people are willing.
But there is of course a lot more affected by the money in our lives, especially the ego. A rich men easily thinks he is really someone, a 'great' man, special, gifted, etc.. The poor man will most often struggle with the opposite thoughts and feelings, while in the end it's all false.
If I ever again have quite some money to spend, I'll be very vigilant, you'll see me desperately trying to hold myself back. Never trade your soul for money (or power) is my advice. And if you have a lot of it, use a substantial part to help poor children for example, give them food, education, that will create you some ever lasting happiness, at least, if you can hold yourself back from growing your ego on that.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#33Money may not buy happiness, but it's strange how often it's a factor in things that make you unhappy. The unhappiest I've ever been was during a difficult period with my family. Money was definitely involved, and the center of much of the issue, but it was the troubles in the relationship with people close to me that made me unhappy. If money had never been an issue, I never would have had either trouble and things…
"Money doesn't buy happiness" is something said by either the very rich - who don't have to worry about money - or the very poor - to avoid getting even more unhappy about their situation. Having trouble paying the bills will cause stress, stress causes relational issues and whatnot. Money doesn't buy happiness, but it does help with the basics of life. Which is why a minimum wage and by extension liveable income if…
"Money doesn't buy happiness" is largely demonstrably true for most people in their current situations. The available research does not back up any large correlation - causative or not - between happiness and wealth outside of very extreme situations:
If you starve, or lack shelter, money unambiguously increases average happiness substantially. Once you are fed and have somewhere to live - even if crappy - peoples happiness are minimally affected by additional money.
There are ways which you can leverage more money to increase your happiness, but interestingly the best approaches involve living below your means, no matter how much or little you have: The most efficient way of leveraging wealth into happiness is to ensure that you build a buffer so that you can maintain a slow, steady upwards trajectory as much as possible.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#34A year ago I stopped spending my money on "things" and start spending it on free time. My life is much better now.
This is indeed so true; yet money doesn't buy time. Unless you are in your dream location there's always inherent costs to visiting relatives / friends, match their schedule, or simply go wherever you feel good. So you end-up with a double need for money ;) Still ... I fully agree!
In some degree, it does. If you have more money than you need, you can opt to work less hours (not everyone can, but in Germany for example most people have that option).
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#35Last year I sold some stock from my last startup, a little over $1m after taxes, and I can say it's definitely changed things for the better. In this period of time, I have been able to: - Quit my founder position at that startup (thus avoiding potentially being tied to vesting or retention clauses, in case of an acquisition) - Own my house, and invest in a few other apartments, which turned into a little side busine…
I agree with most of your decisions but:
> Completely forget about the price tag when buying small-ticket things: a taxi ride, asking for an extra plate, an occasional flight, paying a round of drinks
Needs a little asterisk, you're changing your lifestyle to one that you probably can not yet afford, be careful with that, these 'little things' really add up over time.
Other than that: Congratulations :)
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#36Money is the most tricky thing men will ever face. Not talking about extreme poverty here, the following is what I've learned: More money leads in almost all people to artificial value, short term superficial happiness, degradation of the soul. On the outside it looks great and shiny, but on the inside the soul starves and craves true happiness. Unfortunately, most rich people react unconsciously by spending more and…
I can feel this in other domains too: relationships (short term, hormonal, struggle-free), knowledge (web era, ease of access, no deep integration, no effort into reaching, organizing, interpreting).
There's a subtle paradox in ourselves for we crave easiness when I believe what we need is to learn how to abstract over complexity.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#37There are all sorts of complexities here that's difficult to capture in sweeping statements, statistics, principles or studies. Money (problems) are the source of lots of unhappiness. Stress and its consequences. Failing to make ends meet is stressful and unhappy. While being a broke and careless 26 year old in love might be fun, in most circumstances being broke sucks. Choosing between a dentist or ballet class for…
> Choosing between a dentist or ballet class for your 5 year old is not pleasant.
That's simple: dentist. Of course the 5 year old will definitely not agree with that choice but health comes first no matter what.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#38Last year I sold some stock from my last startup, a little over $1m after taxes, and I can say it's definitely changed things for the better. In this period of time, I have been able to: - Quit my founder position at that startup (thus avoiding potentially being tied to vesting or retention clauses, in case of an acquisition) - Own my house, and invest in a few other apartments, which turned into a little side busine…
I have often thought about how much happier I would be if I had enough money to not really balk paying for a mid-level sushi restaurant every week or so. Though ultimately I'm not sure how much more money I'd have to make before having that comfort. It would be nice though.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#39Last year I sold some stock from my last startup, a little over $1m after taxes, and I can say it's definitely changed things for the better. In this period of time, I have been able to: - Quit my founder position at that startup (thus avoiding potentially being tied to vesting or retention clauses, in case of an acquisition) - Own my house, and invest in a few other apartments, which turned into a little side busine…
I have often thought about how much happier I would be if I had enough money to not really balk paying for a mid-level sushi restaurant every week or so. Though ultimately I'm not sure how much more money I'd have to make before having that comfort. It would be nice though.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#40Last year I sold some stock from my last startup, a little over $1m after taxes, and I can say it's definitely changed things for the better. In this period of time, I have been able to: - Quit my founder position at that startup (thus avoiding potentially being tied to vesting or retention clauses, in case of an acquisition) - Own my house, and invest in a few other apartments, which turned into a little side busine…
I agree with most of your decisions but: > Completely forget about the price tag when buying small-ticket things: a taxi ride, asking for an extra plate, an occasional flight, paying a round of drinks Needs a little asterisk, you're changing your lifestyle to one that you probably can not yet afford, be careful with that, these 'little things' really add up over time. Other than that: Congratulations :)
True :) that probably deserves clarification: I made a clear separation between "spending money" (rent, travels, food, leisure) and "investment money".
Anything spent is either an investment, where I try to keep returns over 5% yearly, or just everyday stuff. I've found that everyday stuff ends up not being very different than my previous spending levels.
EDIT: I also live outside the Bay Area, which definitely helps.