If you think money can’t buy happiness, you’re not spending it right! At least, that is the conclusion of researchers Elizabeth Dunn (University of British Columbia) and Michael Norton (Harvard), two rising stars in of the world of behavioral science.
In Happy Money: The Science of Happier Spending, Dunn and Norton provide an engaging and often entertaining tour of recent research that shows, from the standpoint of personal well-being, how we can get the biggest bang for our bucks.
They explain, “By focusing on how to spend the money you have rather than how to accumulate more of it, our perspective departs from the obsession with chasing increased wealth in the pursuit of happiness.”
Their own research, and that of several colleagues, reveals the following five key principles of happy money:
The TED Interview: “Design Your Life for Happiness” with Elizabeth Dunn
Psychologist Elizabeth Dunn argues that happiness is made, not found, and explains how our everyday choices -- about time, money and technology -- help create it. This episode was recorded on February 5, 2020. (Audio only)
TEDxCambridge: “How to Buy Happiness: with Michael Norton
Michael Norton shares fascinating research on how money can indeed buy happiness -- when you don't spend it on yourself. Listen for surprising data on the many ways pro-social spending can benefit you, your work, and (of course) other people.
Reprinted by permission of Money Quotient, Inc.