What will you do in the following situations ?
Imagine you had some spare cash. Will you use that to
- Upgrade your car
- spend on a trip that you wanted to do
What do you cherish
- Having your favourite ice-cream whenever you wanted ?
- Treating yourself occasionally ?
Which job would you prefer assuming everything else is the same ?
- Annual income of 1100000 rupees with a commute time of 2 hours daily
- Annual income of 850000 rupees with a commute time of 15 minutes
- Use your credit card to buy your favourite dress now ?
- Pay in cash for a concert that shall happen three months down the line
What makes you more happy with a random 1000 rupee note that you found in your desk
- Use it to go for a treat with your friends
- Use it to feed a charity for a day
The authors present scientific evidence on how choosing (2) in all of the above choices would have given you sustained happiness. The authors illustrates 5 principles of Happy Money. They are
- Buy Experiences
- Make it a treat
- Buy Time
- Pay now. Consume Later.
- Invest in others
Irrespective of you having answered (1) or (2), this might be a good book to pick up for you to categorize your spend patterns in the above categories and arrive at which gives you more happiness.
The others argue that having more money is not a direct correlation to happiness and our happiness is possibly related to how we spend the money we have.
This book is a short and engaging read , backed with real life experiments conducted by the authors.
The authors quote “Trying to get happier is like trying to get a heart transplant on yourself” and I personally feel that they have given a pretty useful framework to do that.
Enjoy Maadi (Have Fun).