Summary of Happy Money

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Rating

8 Overall

8 Applicability

9 Innovation

7 Style

Recommendation

Having money won’t make you happier – but spending it might. The right spending habits can produce measurable changes in your physical and emotional well-being. Elizabeth Dunn, an associate professor of psychology, and Michael Norton, an associate professor of marketing, distill their findings in this field into the five principles of “smart spending.” Among their tips: Don’t buy stuff; buy experiences. You’ll get more happiness out of a trip overseas or a visit to a museum because you’ll connect with other people and accumulate memories. This quick, breezy book balances anecdotes and corny jokes with a broad survey of current economic research. getAbstract recommends its tales and advice to those seeking insight into the psychology of spending – your own and your customers’.

In this summary, you will learn

  • How your spending habits can affect your sense of well-being,
  • How five spending principles will help you get the most happiness value for your money, and
  • How businesses can use these principles to make their employees and customers happy.
 

About the Authors

Elizabeth Dunn teaches psychology at the University of British Columbia. Michael Norton is on the marketing faculty at the Harvard Business School.

 

Summary

Money and Happiness
The latest research shows that money can indeed buy happiness. You just have to know the right way to spend it. Don’t expect to find happiness by buying a new pair of shoes or even a house in the suburbs. Material goods offer only a temporary lift for your spirits. ...

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