In episode 160 I discussed the first 2 ideas on how to spend your money wisely. In this episode I’ll talk about 4 more great ideas on how to get the most from your money and 2 things you have to be careful about. Get the latest findings from positive psychology researchers like Elizabeth Dunn, Tim Wilson and Dan Gilbert on this episode of The Psych Files.
…as long as money is limited by its failure to grow on trees, we may be better off devoting our finite financial resources to purchasing frequent doses of lovely things rather than infrequent doses of lovelier things. - Dunn, E. W., Gilbert D. T., & Wilson T. D. (2011). If money doesn’t make you happy then you probably aren’t spending it right. Journal of Consumer Psychology. 21(2), 115-125.
Six Guidelines for Spending Your Money Wisely
- Buy Many Small Pleasures – Instead of Few Big Ones
- Don’t Buy Extended Warrantees and Such
- Don’t Get Now and Pay Later. Instead Pay Now and Get Later: don’t deprive yourself of the joys of anticipation. Anticipation of an upcoming new thing in your life feels great.
- Beware of Comparison Shopping: this activity could make you forget what is most important to you.
- Pay Attention to What Others Buy and/or What Others Think Will Make You Happy: a lot of times we don’t know ourselves as well as others.
- Dunn, E. W., Gilbert D. T., & Wilson T. D. (2011). If money doesn’t make you happy then you probably aren’t spending it right. Journal of Consumer Psychology. 21(2), 115-125.
- Van Boven, L., & Gilovich, T. (2003). To do or to have: That is the question. Journal of Personality and Social Psychology, 85, 1193-1202.
- Income and Happiness: An Imperfect Link
- Catching On and Letting Go: The Art and Science of Flourishing
www.ted.com Dan Gilbert, author of Stumbling on Happiness, challenges the idea that well be miserable if we dont get what we want. Our “psychological immune system” lets us feel truly happy even when things dont go as planned.TEDTalks is a daily vide…