Thursday, May 3, 2012

on money making you happy

OK, admittedly I got this from Oursignal, which is hardly the most credible source, but the .pdf is hosted at Harvard, and it's apparently also available at ScienceDirect.Com. The title of the article is "If money doesn't make you happy, then you probably aren't spending it right", and I had to check it out.

I haven't read the whole thing yet, but the abstract is as follows:
The relationship between money and happiness is surprisingly weak, which may stem in part from the way people spend it. Drawing on empirical research, we propose eight principles designed to help consumers get more happiness for their money. Specifically, we suggest that consumers should (1) buy more experiences and fewer material goods; (2) use their money to benefit others rather than themselves; (3) buy many small pleasures rather than fewer large ones; (4) eschew extended warranties and other forms of overpriced insurance; (5) delay consumption; (6) consider how peripheral features of their purchases may affect their day-to-day lives; (7) beware of comparison shopping; and (8) pay close attention to the happiness of others.
I gotta check this out. Some of those things sound good, some sound true, and at least one sounds too good to be true. If you read it, let me know what you think.