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
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Individual and cultural change? »Individual and cultural change?
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New guiding values? »New guiding values?
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Increasing the happiness derived from money spent
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1. Buy more experiences and fewer material goods »1. Buy more experiences and fewer material goods
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2. Use money to benefit others rather than yourself »2. Use money to benefit others rather than yourself
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3. Buy many small pleasures rather than fewer large ones »3. Buy many small pleasures rather than fewer large ones
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4. Eschew extended warranties and other forms of overpriced insurance »4. Eschew extended warranties and other forms of overpriced insurance
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5. Delay consumption »5. Delay consumption
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6. Consider how peripheral features may affect your day-to-day life »6. Consider how peripheral features may affect your day-to-day life
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7. Beware of comparison shopping »7. Beware of comparison shopping
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8. Pay close attention to the happiness of others »8. Pay close attention to the happiness of others
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