The Science of Smarter SpendingBook - 2013
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 offers a tour of research on the science of spending, explaining how you can get more happiness for your money. Authors Elizabeth Dunn and Michael Norton have outlined five principles--from choosing experiences over stuff to spending money on others--to guide not only individuals looking for financial security, but also companies seeking to create happier employees and provide "happier products" to their customers. Dunn and Norton show how companies from Google to Pepsi to Charmin have put these ideas into action.
Along the way, Dunn and Norton explore fascinating 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 "lively and engaging book" (Dan Gilbert, author of Stumbling on Happiness ), you'll be asking yourself one simple question every time you reach for your wallet: Am I getting the biggest happiness bang for my buck?
From the critics
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Looking back on their past decisions about whether to purchase experiences, 83 percent of people sided with Mark Twain, reporting that their biggest single regret was one of inacation, of passing up the chance to buy an experience when the opportunity came along. The opposite was true for material goods; most people's biggest regret was buying something that htey wish they hadn't. p.16
We are happy with things, until we find out there are better things available... Even the simplest experiences, like eating a bag of SunChips, are relatively immune to the detrimental effects of attractive alternatives. p. 17
The French use the verb se rejouir to capture the experience of deriving pleasure in the present from anticipating the future. The se rejouir period provides a source of pleasure that comes free with purchase, supplementing the joy of actual consumption. p 80-1
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