Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]

wjh.harvard.edu

Post reply on HN
Print view View original

101–110 of 152 posts

Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]

#101

Post by incision »

beachstartup wrote: post #82
jacquesm wrote: post #35

Earlier quoted context omitted.

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 :)

i completely disagree - he has a small but successful real estate business and has presumably close to or over $1M in assets. he definitely can afford a tax ride, an extra appetizer, or a flight somewhere without thinking about the implications of the cost. if not this guy, then who? do you have to be a billionaire before you can order an appetizer without guilt? i'll describe the lifestyle you probably can't afford…

>"this irrational overemphasis on frugality i always see on hn just seems like a different form of elitism / pedantry to me. since most of us have money, it's just a covert way of signaling an extra level of self-control and discipline (which are usually required to make money, but since so many of us make money, we've got to find novel ways to signal that extra status)."

I get this sense as well and think the signaling theory is a solid one.

I'm thinking this is a part what frequently turns me off of topic specific forums - people have a tendency to want to sort and differentiate themselves. The higher the baseline - whether it's income or knowledge - the more pedantic the self-sorting.

Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]

#102

Post by BrokenEnso »

downandout wrote: post #89
jmagoon wrote: post #79

Earlier quoted context omitted.

It's strange to me that people think having or not having money is directly tied to obsessing over money. These are two separate things that aren't actually connected--the number in your bank account and the state of your mind. You can have $1bn and be totally miserable and miserly, you can have .15 and be generous and happy, and vice versa.

>you can have .15 and be generous and happy On what planet? You aren't going to be happy begging for food, walking everywhere you go, having no place to shower or sleep, not having clothes, etc. Certainly, each extra dollar gives you less marginal happiness as you move up the net worth scale into the tens and hundreds of millions of dollars. But if you aren't able to meet a certain reasonable minimum standard of livi…

"if you aren't able to meet a certain reasonable minimum standard of living, you will be absolutely miserable."

For some people their minimum standard of living dose not require money. Buddhist monks[1] come to mind. There are also people that simply want to live away from society and thus have no real need for money.

[1] http://www.buddhanet.net/e-learning/buddhistworld/layguide.h...

Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]

#106

Post by Retric »

emotionalcode wrote: post #94
Retric wrote: post #68

Earlier quoted context omitted.

There are a lot of products and techniques that help people look more beautiful. However, at its core beauty relates to both age and heath and as such it's less superficial than is generally portrayed. Taking this back to buying experiences. IMO, there is basic expenses like buying gas or shampoo which don’t cheapen things. But the further extremes you go like plastic surgery or renting out a hotel not just a room yo…

You are judging this from the criteria of an average person living and spending their money. Plastic surgery might help someone with a physical deformity, and renting out a hotel might be a necessity for a scientific conference. You can't judge the value of a dollar based on the assumption that there exists an average person that spends it. For every frivolous act of spending you can conceive of, I can respond with a…

I think your taking this well outside of the 'spending disposable money to increase personal happiness’ discussion. Remember this is in reference to the idea people don't become happier as they spend money because their spending it poorly. As such is reasonable to talk about heuristics vs getting tied into specifics.

Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]

#107

Post by pessimizer »

vidarh wrote: post #33
Cthulhu_ wrote: post #21

Earlier quoted context omitted.

"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 ha…

>The available research does not back up any large correlation - causative or not - between happiness and wealth outside of very extreme situations

This is not a true statement about the available research.

Subjective Well-Being and Income: Is there any Evidence of Satiation?

http://www.econstor.eu/bitstream/10419/72663/1/cesifo_wp4222...

"The relationship between well-being and income is roughly linear-log and does not diminish as incomes rise. If there is a satiation point, we are yet to reach it."

Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]

#108

Post by [deleted] »

beachstartup wrote: post #82
jacquesm wrote: post #35

Earlier quoted context omitted.

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 :)

i completely disagree - he has a small but successful real estate business and has presumably close to or over $1M in assets. he definitely can afford a tax ride, an extra appetizer, or a flight somewhere without thinking about the implications of the cost. if not this guy, then who? do you have to be a billionaire before you can order an appetizer without guilt? i'll describe the lifestyle you probably can't afford…

[deleted]

Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]

#109

Post by freshhawk »

BrokenEnso wrote: post #102
downandout wrote: post #89

Earlier quoted context omitted.

>you can have .15 and be generous and happy On what planet? You aren't going to be happy begging for food, walking everywhere you go, having no place to shower or sleep, not having clothes, etc. Certainly, each extra dollar gives you less marginal happiness as you move up the net worth scale into the tens and hundreds of millions of dollars. But if you aren't able to meet a certain reasonable minimum standard of livi…

"if you aren't able to meet a certain reasonable minimum standard of living, you will be absolutely miserable." For some people their minimum standard of living dose not require money. Buddhist monks[1] come to mind. There are also people that simply want to live away from society and thus have no real need for money. [1] http://www.buddhanet.net/e-learning/buddhistworld/layguide.h...

I think the discussion was assuming you didn't have someone taking care of your material needs for you, like a monastery or a parent.

Re: If money doesn't make you happy, you probably aren't spending it right (2010) [pdf]

#110

Post by collyw »

lmm wrote: post #84
collyw wrote: post #2

I 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…

If you were happier back then, why don't you go back to doing that?

I am tempted, but its not a lot of money to save for a retirement. Plus, its pretty hard on your body.
Post reply on HN