Happy Money: The Science of Smarter Spending by Elizabeth DunnHappy Money: The Science of Smarter Spending by Elizabeth Dunn

Happy Money: The Science of Smarter Spending

byElizabeth Dunn, Michael Norton

Hardcover | May 14, 2013

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If you think money can’t buy happiness, you’re not spending it right. Two rising stars in behavioral science explain how money can buy happiness—if you follow five core principles of smarter spending.

If you think money can’t buy happiness, you’re not spending it right. Two rising stars in behavioral science explain how money can buy happiness—if you follow five core principles of smarter spending. Happy Money offers a tour of new research on the science of spending. Most people recognize that they need professional advice on how to earn, save, and invest their money. When it comes to spending that money, most people just follow their intuitions. But scientific research shows that those intuitions are often wrong. Happy Money explains why you can get more happiness for your money by following five principles, from choosing experiences over stuff to spending money on others. And the five principles can be used not only by individuals but by companies seeking to create happier employees and provide “happier products” to their customers. Elizabeth Dunn and Michael Norton show how companies from Google to Pepsi to Crate & Barrel have put these ideas into action. Along the way, the authors describe new research that reveals that luxury cars often provide no more pleasure than economy models, that commercials can actually enhance the enjoyment of watching television, and that residents of many cities frequently miss out on inexpensive pleasures in their hometowns. By the end of this book, readers will ask themselves one simple question whenever they reach for their wallets: Am I getting the biggest happiness bang for my buck?
Title:Happy Money: The Science of Smarter SpendingFormat:HardcoverDimensions:224 pages, 8.38 × 5.5 × 1 inPublished:May 14, 2013Publisher:Simon & SchusterLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:1476740704

ISBN - 13:9781476740706

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Rated 4 out of 5 by from Money Well Spent Most financial guidebooks tell us how to make more money, but academics Elizabeth Dunn (UBC) and Michael Norton (Harvard) tell us something different: how best to spend the money we have.  Their answer is delivered in five chatty chapters, each with a central point to help us spend smarter and become happier:  Buy Experiences Make It A Treat Buy Time Pay Now, Consume Later Invest In Others In the first chapter the authors tell us that experiences, even somewhat negative experiences, are looked back upon fondly, while material goods produce some fleeting pleasure but very quickly become immaterial to our happiness. This point is central to their book. In the third chapter they offer ways to increase free time - but careful here, some time savers can actually increase stress - and then suggestions about how best to spend that newfound free time. Prefaced by a bit of their trademark chatty humour, Dunn and Norton write, ”If you awaken happiness researchers in the middle of the night and ask them to tell you (quick!) what matters most for human well-being, you'll get the same response: get the hell out of my house.  After they calm down, though, we're pretty sure they'll agree on the answer: social relationships."  Buy experiences, and use your time to socialize with (or help) others. Happy Money has a light-hearted style and made me laugh out loud at times. It is also based on rigorous research and each point is well footnoted.  The real power of Dunn and Norton's book is that it assembles such a broad range of academic insight into a well organized, focused and easily digestible whole.  It's not difficult to find suggestions about how to spend our money - advertisements surround us - and there's no shortage of research tidbits or highlights in the media, but without first the filter and second the framework supplied by the authors, it is difficult for the average person to sort the information into something useful.  Full marks.  
Date published: 2014-12-31

Editorial Reviews

"This small, snappily written book is focused on five points, all directed at enabling people to get more bang for their bucks... Buy [this] book, read [it], take the advice [it] offer[s] to heart, and you’ll be a happier person."