One very interesting book that has come to our attention as of late is, Happy Money: The Science of Smarter Spending. In this book, the authors rely on years of quantitative and qualitative research to explain how money can actually buy happiness, but only if spent in certain ways. There are five key principles that they focus on detailing how money can induce a serious boost of dopamine, leaving you fulfilled and happy. We get into a breakdown of the main points here

Principle One: Buy Experiences Extensive research reveals that a material purchase or spending on goods/products has a weaker effect on happiness than spending on vacations and visits. So if you’re hesitating to take that vacation, just book it! Experiencing a new place could be beneficial to your frame of mind and emotional needs.

Principle Two: Treat Yourself Having continuous access to all the goodies that life has to offer does very little to keep you continuously happy. However, rewarding yourself every once in awhile by making some purchases less casual than others and occasionally treating yourself elicits a stronger feeling of happiness more often than not.

Principle Three: Buy Time

planningPlanning your time and investing in your hourly clock and the way in which you juggle your day-to-day activities has been proven to increase happiness as well. This means responsibly managing and investing in your time, here and now, will ensure feelings of happiness in assessing your life in the long run.

Principle Four: Pay Now, Consume Later We live in the era of instant gratification and instant reward. Research shows that fast-reward products just as quickly lose their effect on your happiness. Research instead suggests you try postponing the consumption of your bought items and see what that can do for you happiness levels. Basically, practicing some self control pays off your your happiness and feelings of contentment.

Principle Five: Invest in Others

givingThe fastest and longest lasting happy pill is to spend on others – which is true for both time and money. So, now it’s proven that giving more does have benefits for your emotional wellbeing. The more effort you use to put a smile on someone else’s face, the more you’ll be smiling too, and that’s a pretty beautiful concept.