How to spend money to buy happiness (with Michael Norton)

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32m · May 3, 2021

How to spend money to buy happiness (with Michael Norton)

Can money really buy happiness? Michael Norton is a social science researcher who studies how we feel about our spending decisions. His work explores questions like: What’s the best way to spend your cash? How much should you donate to charity? Do credit cards make us unhappy? In this episode, Michael shares the sometimes-surprising findings that can help you use our money to improve your life. Michael is a professor of business administration in the marketing unit at the Harvard Business School. Prior to joining HBS, Michael was a Fellow at the MIT Media Lab and MIT’s Sloan School of Management. His work has been published in a number of leading academic journals and has been covered in media outlets such as the Economist, the Financial Times, the New York Times, the Wall Street Journal, and the Washington Post. To learn more about "How to Be a Better Human," host Chris Duffy, or find footnotes and additional resources, please visit: go.ted.com/betterhuman

  • 7:30-14:22 - great segment

    2 days ago·4 likes·
    Katy80

    Yea the importance of some time off to savour expectation of things and make it feel more special rather than binging on what we want all at once. Seems like something we are increasingly losing these days with on demand culture rather than looking forwards to it. Netflix, Amazon Prime, Last minute holidays...

    10 hours ago·
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    2 days ago·
  • This was epic. So many takeaways to make yourself more content and a nicer person to have around. Obviously being materialistic doesn't help but being mindful about how you utilise money is really powerful 🥰

    7 days ago·2 likes·
  • @Sam @Alex-Denne this all makes sense but I have the tendency to be quite impatient 🤷😂

    14 days ago·
    Alex-Denne

    Haha, perhaps order 2? One for now, one for the next evening?

    13 days ago·
    Jack

    @Alex-Denne this is my pizza mentality 😂😂

    13 days ago·
  • @Sam I really liked the idea of ordering a takeaway the night before it arrives so you've got a full day of anticipation!

    15 days ago·2 likes·
  • @Hannah-Girvan @Jack @Jennifer @Alaina @Nicolas @Javier this was full of nuggets and relates to various chats I’ve had with all of you on the topic of success, contentment and how to use money correctly in that direction

    17 days ago·1 like·
    Javier

    Makes lots of sense, and like he says, we know that spending money on other people will make you happier but very few do it

    15 days ago·1 like·
    Sam

    @David @Jane @Eamonn - also think you’d love this

    14 days ago·
    Sam

    @felixchandler this might help on your happiness quest and what is the point of money

    5 days ago·
  • 28:00 - Print out your bank statement for a month and categorise the spending and consider what did or didn’t make you happy

    21 days ago·1 like·
  • 5:20 - 1. Experiences 🏄‍♂️, 2. Make it a treat 🎁, 3. Buy time ⏱, 4. Pay now, consume later 😌 (anticipation makes it fun), 5. Invest in others 🤗

    21 days ago·5 likes·
    Alex-Denne

    Yeah I loved this @Piers-Harris might be up your street?

    15 days ago·1 like·
    Piers-Harris

    @Alex-Denne thought it was great!

    15 days ago·3 likes·
    David

    Thanks for writing up this list. This is the key advice I wanted to jot down. 🔥

    10 days ago·1 like·
    Sam

    @Jeremy-Enns this episode would be a nice basis for some musings in the newsletter

    7 days ago·
  • Big take away is that spending on others makes you happier than spending on yourself👏. Counter intuitive but happiness is not exactly straight forward

    22 days ago·1 like·
    Sam

    [removed]

    22 days ago·

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