Increasing the happiness derived from money spent
Research by Dunn, Gilbert and Wilson (2010) notes that the relationship between money and happiness is surprisingly weak – in part due to the way in which people spend their money – and identify eight principles designed to help people boost the happiness derived from their expenditure.
Immediately related elementsHow this works
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Prosperity without Growth »Prosperity without Growth
Individual and cultural change? »Individual and cultural change?
New guiding values? »New guiding values?
Increasing the happiness derived from money spent
1. Buy more experiences and fewer material goods »1. Buy more experiences and fewer material goods
2. Use money to benefit others rather than yourself »2. Use money to benefit others rather than yourself
3. Buy many small pleasures rather than fewer large ones »3. Buy many small pleasures rather than fewer large ones
4. Eschew extended warranties and other forms of overpriced insurance »4. Eschew extended warranties and other forms of overpriced insurance
5. Delay consumption »5. Delay consumption
6. Consider how peripheral features may affect your day-to-day life »6. Consider how peripheral features may affect your day-to-day life
7. Beware of comparison shopping »7. Beware of comparison shopping
8. Pay close attention to the happiness of others »8. Pay close attention to the happiness of others
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