The next two principles from Happy Money are to MAKE IT A TREAT and to BUY TIME.
Abundance, it turns out, is the enemy of appreciation.
Happy Money, Elizabeth Dunn and Michael Norton
Sweeter the second time around
The first time I tasted my mother’s homemade Choco Dream Cake, it was bliss. She makes them in Negros and we brought one in Manila. I enjoyed every spoonful of it. I savored every layer of chocolate, from top to bottom, in that tin can.
When we are stayed in Negros for the holidays, I have access to my mother’s Choco Dream Cake at any day and anytime. But the next tin can of cake doesn’t have the same experience and satisfaction as the first.
As the authors put it, “the more we are exposed to something, the more its impact diminishes.”
This is where we apply MAKE IT A TREAT to bring more happiness in what we spend. When we limit our exposure to something, the more it feels great once we possess that thing. I bet that after a year of not eating my mother’s Choco Dream Cake, I will crave for it and the first spoon will burst will happiness again.
By adding something new to a boring routine is also a way to MAKE IT A TREAT. This is great news for couples. “When couples do novel, exciting things together, the relationship itself feels novel and exciting.” I know many couples who regularly try new restaurants for their date nights. Great food plus stronger relationships really brings more value for the money spent.
Time is Money
People who feel they have plenty of free time are more likely to exercise, do volunteer work, and participate in other activities that are linked to increased happiness.
Happy Money, Elizabeth Dunn and Michael Norton
We all wish we have more time to do the things we love and the things that will make make us truly happy. But we rarely think of ways to create free time. The authors say that is possible to BUY TIME and use this extra time to pursue happiness.
Try these tips in transforming decisions about money into a decisions about time:
- Avoid sacrificing free time just to save or earn a little money. No need to spend an hour in a line to get free samples, or visit all the malls around the city to compare the best price on an item.
- Buy products that reduce or eliminate the worst minutes of your day. If you hate sweeping the floor, then buying that vacuum cleaner will be worth it to create free time.
- Lessen the time in commuting. “Taking a job that requires an hour-long commute each way has a negative effect on happiness similar in magnitude to not having a job at all.”
- Lessen time spent on television. “In many countries, people spend almost as much time watching TV as they do working.” Try replacing some time spent watching TV to other activities that bring happiness.
- Spend more time socializing. “People experience the most positive moods of the day while spending time with family and friends.” But avoid the trap in making yourself spend more time at work in order to afford the time to socialize.
- When comparing two products, “ask yourself whether the differences in features will alter how you spend your time. If the answer is no, go cheap.”
Rather than seeing time as a vehicle to get more money, we suggest viewing happier time as an end in itself.”
Happy Money, Elizabeth Dunn and Michael Norton
In the Part 4, we will look at the last two principles from the book Happy Money.
Happy Money Book Summary
Part 1 | Part 2 | Part 3 | Part 4 | Part 5
