The Science of Smarter Spending
By Elizabeth Dunn & Michael Norton
About the Book
If you think money can't buy happiness, you're not spending it right. Two rising starts in behavioral science explain how money can buy happiness - if you follow five fore 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 though, most of us are just going to follow are instincts. The scientific research in Happy Money shows us that most of the time, these instincts are 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 many inexpensive pleasures in their hometown. By the end of the book you might be asking yourself one simple question when you go to pay for something. "Am I getting the biggest bang for my buck"
So much of the information in Happy Money was a big surprise to me. It offers a lot of information on how you should spend your money to be happy, which isn't always buying the cheapest things you can. This is great contrast to my book review of Godonomics and good compliment to the Money Smart System. For a new perspective on money this book might be interesting for you to read.