It is easy to assume that happy, successful people spend their money on luxury cars, designer clothes, and palatial homes. But, when Laura Vanderkam wrote her books All the Money in the World: What the Happiest People Know About Wealth and I Know How She Does It: How Successful Women Make the Most of Their Time, she learned that satisfied people aren’t necessarily blowing their hard-earned cash on things of that nature. Here are 3 spending habits she uncovered and passed on to PureWow.
They spend on experiences over goods.
Have you ever heard of the “hedonic treadmill”? It refers to the phenomenon in which people get used to and then become unsatisfied with things that once brought joy. For example, you might buy a new car, only to one day realize that you now want a luxury SUV. Worse, we often compare our possessions to those of others, making the situation worse. Experiences aren’t subject to these comparisons, and what’s more, they always vary, so they stimulate long-term happiness in a way that goods cannot.
They spend on things that will save them time.
As you’ve heard before, time is money, and unlike money, you can never make more time. So, it only makes sense that successful, happy, and productive people like to spend their hard-won dollars on things that will make their day-to-day lives more efficient. For example, this might be an InstantPot that makes family-sized dinners in 30 minutes or high-tech home office equipment that makes working from home more convenient than commuting to the office.
They spend on charities and philanthropic efforts.
Regardless of whether you consider yourself an introvert or an extrovert, biologically speaking, we are all social creatures who are at our best when we enjoy tight bonds with other people. One way happy people like to show their support for others is by spending money on them – whether by buying a friend's coffee or giving a financial gift to a beloved charity. This makes us feel connected to the recipient, while also giving us the selfless satisfaction that comes with helping someone other than ourselves.
Inspiration can come from anywhere – just ask the team at Ashford Apartments in Carrollton, Texas. By passing along this information, we hope to inspire you with new ideas, projects, and goals, too.