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Dec 2, 2021

Are you spending your money in a way that makes you happy? We all know the saying, "money can't buy happiness". However, studies have shown that the way we spend our money really does impact our overall happiness. On today's show, we will be going over some spending principles and their impact on our life. A lot of people win the lottery only to find out they are still unhappy once they are rich. So, what is the secret balance? You can't just throw your money against a wall. 

Buy more experiences and fewer things. 

Buying that new pair of shoes or the latest TV model may make us happy for a little bit, but that feeling is usually fleeting. Spending money on experiences, whether you are traveling or trying a new restaurant with a loved one can be much more valuable to our hearts. Studies have shown we reminisce on experiences rather than things. This is a great way to build our relationships with one another as well. 

Enjoy the small things. 

Sometimes we need to find joy in the small things rather than the big sporadic moments in life. A special dessert, a good book, or some nice flowers. Spending small amounts of money on things that give us delight means we can enjoy these things more often. 

Use our money to help others. 

It seems that whenever people tend to give money away, more money comes back to them. Using your spending power to help a charitable event or to help a neighbor is a great way to build relationships and bonds. Even having enough money to retire and donate your time instead of a monetary gift can be a great way to find happiness. 

Avoid overpriced protections

We've all spent a little too much on an extended warranty that we probably never used or ended up expiring by the time we needed it. A lot of people bought warranties for electronics from Circuit City, only to find them out of business. Reports show that most extended warranties are probably not worth it... However, if you do want to invest in a warranty make sure to check manufacturer offers. It could save you a little bit of money. 

Delayed Gratification 

Perhaps the most important spending principle is learning to embrace delayed gratification. Instead of stopping for takeout, cook. Instead of purchasing a new cell phone model, wait a few weeks to think about it. A great example of this is when people freeze their credit cards and have to wait for them to melt in order to use them. Usually, by the time the ice has melted, they no longer want to buy the item they originally wanted to! Delaying our gratification usually makes the decision to buy something much more fulfilling in the long run. 

At the end of the day, how you spend your money can affect your happiness. Is your money being used to support your values and the things you care about? 


Listen to the full episode for more details or skip around to certain topics. 

0:21 - Does spending create happiness?

1:30 – Winning the lottery

4:24 – Money is an opportunity for happiness

6:00 – Buy more experiences

6:39 – We don’t need the most amount

9:15 – The small things

10:21 – Using your money to benefit others

12:01 – Avoid overpriced protections

15:16 – Delayed Gratification


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