Ways to Spend to Maximize Happiness
Updated: Dec 23, 2018
According to Harvard Business School, there are ways to maximize the pleasure we associate with spending -
1st Principle: Buy experiences, not things.
**Research shows that experiences like vacations and concerts lead to longer-term fulfillment than material purchases.
2nd Principle: Make it a treat.
**Buy your favorite things sparingly to really boost appreciation and the good feeling the purchase brings.
3rd Principle: Buy time.
**Spend money to pay for things/services that will give you more time (i.e. sending out your laundry). This will allow you to spend more time on things that give you pleasure.
4th Principle: Pay now, consume later.
**Delayed gratification leads to more enjoyment overall.
5th Principle: Invest in others.
**Research has shown that spending on others is associated with high levels of happiness and contentment.