I just finished reading Happy Money: The Science of Smarter Spending. I think the book makes a couple good points.
- Use your money to buy experiences rather than things
When you look back on the highlights of your life, do you think of awesome experiences such as sharing time with friends and family or helping others? Or do you think of the expensive shoes, cars, and TV’s you’ve purchased? Next time you’re about to make a purchase, consider these questions:
- How will this purchase affect my life?
- Will buying this allow me to spend more time with the people I care about?
- Will it offer me something that I’ve always dreamed of doing?
- Will it allow me to have the financial freedom I yearn for or will it make me a slave to creditors?
- Buy time
It’s possible to buy more time by spending money on time-saving products and services (e.g., lawn care). As a B$ Traveler, these additional costs can be hard to justify. However, there’s a way to rationalize these costs if it allows you to spend the time doing something you love or something you’ve always wanted to do.
The takeaway from the book is that it’s not how much money you have, but how you spend it that will truly determine your level of happiness. Honestly, the book was a little dull after the first few chapters, so in order to Buy You Time, I decided to provide a clip which provides a summary of the main points of the book. Enjoy!