Related TED talk for those interested: http://www.ted.com/talks/michael_norton_how_to_buy_happiness
If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
41–50 of 152 posts
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#42I was happiest 15 years ago working as a raft guide and traveling the world. I had very little money then, but I was very happy. I got to do what I loved every day. I usually made two large purchases per year (the opposite of what this article suggests) - a kayak and a return ticket to my next destination. I now sit in front of a computer. Earn OK money but not enough to retire on anytime soon (I am in Spain just now…
I suppose this must resonate with you
https://www.youtube.com/watch?v=syJXrbWU1Aw
It does with me, though the being alone part might bother me after a bit, despite traveling on my own most of my life.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#43There 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…
Money are the source of lots of unhappiness, but as they point out: We adapt. The research does not support that "being broke sucks". The research supports that starving and being homeless sucks. The moment you are not starving, and have shelter, peoples happiness level is on average almost as high as the happiness level of a rich person. > Feeling successful is pleasant in itself. It may be, but as we adapt to havin…
I'm far from up on the research, and I've heard conflicting versions of what research supports. But, this article seems to be treating the relationship as clearly causal but modest.
From the first paragraph:
"Scientists have studied the relationship between money and happiness for decades and their conclusion is clear: Money buys happiness, but it buys less than most people think (Aknin, Norton, & Dunn, 2009; Diener & Biswas-Diener, 2002; Frey & Stutzer, 2000). The correlation between income and happiness is positive but modest.."
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#44"Principle 1: Buy experiences instead of things"
Figure 1 - highest on the happiness index is "making love"
I see what you're saying. ;)
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#45I poor all the money I can into my future self. That actually does make me happy. I don't see lifestyle inflation as a good idea especially for young people.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#46Try living in a medium size city in the Philippines.
There are neighborhood stores here all over the place and they don't charge much more than you would have to pay by buying in bulk at a larger store. When I'm not shopping at a neighborhood store, I go to the local market. Each of these places are very bland. Basically just a bamboo or concrete house with the products hanging or stacked up in shelves. Often you just order through a barred window and they give you what you ask for. After shopping like this for months, walking into a regular grocery store is an assault on the senses. Packaging, marketing and colors everywhere. Things at the smaller stores are also really cheap because the locals have to be able to afford them. At the larger grocery stores I'm floored by the prices of everything. I avoid grocery stores as much as possible.
The selection of products here is slim. I can spend all day looking around different stores and not find one thing on my wishlist. Otherwise I find nothing interesting. Many products are cheap and low quality because expensive items don't sell. I'm happy living here and I have the things I really need.
Happy + have everything I really need + have money + nothing to spend money on = abundance of sorts. I don't know if I feel rich, but it's strange feeling like money doesn't really do me much good. Daily expenses are super cheap. I only have going out to eat to spend money on. My favorite meals only cost $1 - $3. When everything is cheap, an expensive meal seems excessive.
Further screwing with me is that I can help out with simple tech stuff at these restaurants and I can eat for free. Business owners here don't know how to use things like Facebook, which is basically the internet for the Philippines. It's not really worth my time, but I like to help. There goes my main expense outside of rent and utilities.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#47Earlier quoted context omitted.
His kids would, though.
they may prefer 15 years of quality time with dad to a load of cash PS: I'd love to hear some arguments on this, not just simple downvotes. Is HN turning into a place like: "you don't think like me, so I'm downvoting you and moving along"?
If you've ever fished for a living, the argument seems ludicrous.
Fishing can be treacherous work. You might get rich with a big haul or die when the whether turns bad.
There are many factors, enviromental pollution, ecosystem changing, etc. It's not unusual for these small local fishermen to have very very bad years. And it's not just small outfits that hit tough times, do some research on the tuna industry and decline in tuna population.
Reality doesn't always go along with our cozy zen story. We haven't even mentioned the fact that turning your hobby into a job is quite often a very bad idea.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#48Earlier quoted context omitted.
The problem is that when you "buy" the experience, the experience becomes a "thing". An experience is either something genuine or a product. A product is a thing, and money changes a lot of it's attributes.
Getting ripped to shreds by a lion can be a genuine experience, but that doesn't mean I desire it. If you enjoy something you can buy with money, there is likewise no need to taint the experience bleak simply because it was money that enabled you to experience it. I have no doubt that money changes the attributes of a thing sometimes, but so can any other attribute, including the way you collectively simplify a set o…
Experience: A wonderful night dancing with a beautiful woman.
Now add and subtract money and it's a very different experience even if everything else stayed the same.
Compare walking down to the beach on a Friday afternoon after work and taking a week vacation to fly to that same beach and spending your last Friday evening walking around.
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#49There 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…
Money are the source of lots of unhappiness, but as they point out: We adapt. The research does not support that "being broke sucks". The research supports that starving and being homeless sucks. The moment you are not starving, and have shelter, peoples happiness level is on average almost as high as the happiness level of a rich person. > Feeling successful is pleasant in itself. It may be, but as we adapt to havin…
My understanding of the research is that there is a point at which more money doesn't increase your emotional happiness (i.e. the amount of joy minus the amount of sorrow in your life), but that point is considerably higher than not-starving-and-not-homeless. I think you have misread The Happiness Hypothesis
Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]
#50Earlier quoted context omitted.
Getting ripped to shreds by a lion can be a genuine experience, but that doesn't mean I desire it. If you enjoy something you can buy with money, there is likewise no need to taint the experience bleak simply because it was money that enabled you to experience it. I have no doubt that money changes the attributes of a thing sometimes, but so can any other attribute, including the way you collectively simplify a set o…
Experience: A wonderful night dancing with a beautiful woman. Now add and subtract money and it's a very different experience even if everything else stayed the same. Compare walking down to the beach on a Friday afternoon after work and taking a week vacation to fly to that same beach and spending your last Friday evening walking around.
Experience: being a woman people have call beautiful; experiencing wondering whether I am persistently being evaluated on a superficial characteristic.
We all can draw abstract lines in the sand and overgeneralize to have opinions and make points. It doesn't mean it tells the entire story, nor does it mean it's correct forever.