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How to Spend Money So It Makes You Happy
Old 07-21-2010, 03:19 PM   #1
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How to Spend Money So It Makes You Happy

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The debate over whether money can buy happiness just got more complicated. A new paper from two economists suggests that spending money on certain things - namely, leisure activities - does, in fact, improve happiness levels. Spending on more materialistic items, such as cars, food, and clothes, does not.
How to Spend Money So It Makes You Happy - Yahoo! News
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Old 07-21-2010, 04:20 PM   #2
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I agree wholeheartedly with this. My SO says I never spend any money on myself - I drive a Saturn, I hate to shop and rarely buy new clothes (and when I do its often at consignment shops or at 50% off), I don't have the latest phone or whatever.

But I counter that with this: we go out for a decent dinner once a week, we meet friends for drinks, we play golf on nice courses, we go on vacation twice a year. To me, that IS spending money on myself. I'd much rather have an experience than a gadget.

Now, we can debate whether the cabin in the woods we just bought is a thing or an experience....
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Old 07-21-2010, 04:26 PM   #3
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Now, we can debate whether the cabin in the woods we just bought is a thing or an experience....
The Berkeley Springs cabin is beautiful. I vote for it being an experience
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Old 07-21-2010, 04:53 PM   #4
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When I spend money on something that DW really wants, she stops nagging me, therefore I am happier.
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Old 07-21-2010, 04:58 PM   #5
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Old 07-21-2010, 05:16 PM   #6
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Money can't buy happiness, but I believe it can rent it.
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Old 07-22-2010, 08:09 AM   #7
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"Money can't buy happiness, but I'd rather cry in a Ferrari"
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"Money is better than poverty, if only for financial reasons" -- Woody Allen
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Old 07-22-2010, 08:50 AM   #8
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Now, we can debate whether the cabin in the woods we just bought is a thing or an experience....
Definitely an experience unless you do more than basic maintenance on it or you bought it but will not use it.
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Old 07-22-2010, 09:29 AM   #9
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Once in a while, our kids would rebel because we never bought them the latest video game, the latest computer, or even drinks at a restaurant ("water w/lime, please.") It was always the same. "Well, so-and-so has this and such-and-such has that. Why don't we ever get any of that?"

We'd always ask if so-and-so had gone to Arizona for spring break and if such-and-such had gone to Maui for Christmas break, etc. Dead silence - until they got a little older. Then, the response would be. "No, but we had to go with the family! That doesn't count!!!"
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Old 07-22-2010, 10:31 AM   #10
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We'd always ask if so-and-so had gone to Arizona for spring break and if such-and-such had gone to Maui for Christmas break, etc. Dead silence - until they got a little older. Then, the response would be. "No, but we had to go with the family! That doesn't count!!!"

LOL- heard the same thing for years. Now our daughter is married and in her late 20's, and finally- she sees the light!
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Old 07-22-2010, 12:39 PM   #11
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I am a chain-smoker. A few months ago I had to have prostate surgery that meant a hospital stay of at least 8 days. Knowing a hospital with single bed rooms, with windows to terraces where the staff looked the other way when patients -with no serious problems, obviously- sneaked out to smoke, I jumped for it, instead of going for a completely free hospitalisation with same surgeon.
My inability to go without smoking in a situation like that cost me a lot of money, but I canŽt say I regretted the spending.
I am not proud when I confess my absurd behaviour, far from it. But knowing that I could smoke cheered me up, prior and post surgery.
So, money can buy a certain kind of happiness to a certain kind of people!
PS. In September IŽll probably have to undergo Hernya surgery. But this time everything I want and need will covered by my private medical insurance.

Please, do spare me the insults, rebukes, chidings.....
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Old 07-22-2010, 01:06 PM   #12
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The Berkeley Springs cabin is beautiful. I vote for it being an experience
Purron - that's how I look at it too - we have gone out there the past 3 weekends and I am absolutely loving it, even though there is hardly any furniture yet! Heading out again tomorrow.
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Old 07-22-2010, 03:28 PM   #13
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Originally Posted by vicente solano View Post
I am a chain-smoker. A few months ago I had to have prostate surgery that meant a hospital stay of at least 8 days. Knowing a hospital with single bed rooms, with windows to terraces where the staff looked the other way when patients -with no serious problems, obviously- sneaked out to smoke, I jumped for it, instead of going for a completely free hospitalisation with same surgeon.
My inability to go without smoking in a situation like that cost me a lot of money, but I canŽt say I regretted the spending.
I am not proud when I confess my absurd behaviour, far from it. But knowing that I could smoke cheered me up, prior and post surgery.
So, money can buy a certain kind of happiness to a certain kind of people!
PS. In September IŽll probably have to undergo Hernya surgery. But this time everything I want and need will covered by my private medical insurance.

Please, do spare me the insults, rebukes, chidings.....
You'll get no lecture from me. But have you ever tried snus for emergency situations where you can't smoke? All you need is snus, and an empty pop can to do a little spitting into.

Ha
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Old 07-22-2010, 05:03 PM   #14
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We have all been spending money our entire lives. If the way we do so does not improve our happiness, we would simply stop spending. Any other approach would be extremely stupid (of course there is always a high probability of that)
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Old 07-22-2010, 09:19 PM   #15
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We have all been spending money our entire lives. If the way we do so does not improve our happiness, we would simply stop spending. Any other approach would be extremely stupid (of course there is always a high probability of that)
For me, just holding on to my money makes me happy already.

So, if I am going to spend it on something, it has to make me happier than that. That raises the bar a bit.

Now, a friend of mine with a spendthrift wife said that his wife believed that a dollar not spent was a dollar wasted. So, she could spend it on anything at all.
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Old 07-22-2010, 09:36 PM   #16
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I like to spend money on two things most of all - investments and experiences.

It's no accident that all of my "bucket list" items are things to do - not things to buy.
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Old 07-23-2010, 02:31 PM   #17
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Old 07-23-2010, 03:14 PM   #18
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Now, a friend of mine with a spendthrift wife said that his wife believed that a dollar not spent was a dollar wasted. So, she could spend it on anything at all.
I'm getting to be like that. I fear that inflation or taxes or both will ruin my financial future, therefore I "allow" myself to buy very expensive beer from time to time, although my natural tendency is to be very frugal. Party now for tomorrow we ........
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Beer Math Fun
Old 07-23-2010, 03:57 PM   #19
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Beer Math Fun

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I "allow" myself to buy very expensive beer from time to time
You are liquidating your investments, but very slowly.

FIRE Beer Math...

10 beers a day 365 days a year ==> 3650 beers a year

domestic beer in big lots on sale I get it for maybe $0.50/beer ==> $1825/year

So to safely fund my beer consumption I would need portfolio investments of 25X or around $45.6k total to stay perpetually blitzed.

If you drink more than 10 a day or want that imported beer then adjust the numbers for your personal situation

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Old 07-23-2010, 04:04 PM   #20
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So to safely fund my beer consumption I would need portfolio investments of 25X or around $45.6k total to stay perpetually blitzed.
Gosh, when you put it that way, it seems inexpensive to have ten a day! Think I'll go have another right now........
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