The Art of Manliness Money CAN Buy Happiness (If You Use It In These Ways)
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Oct 16, 2024 
Dr. Daniel Crosby, a psychologist and behavioral finance expert, sheds light on how money can actually enhance happiness under certain conditions. He discusses the minimum income needed to avoid pain and emphasizes the importance of spending on health and meaningful experiences rather than succumbing to materialism. Daniel highlights the significance of aligning financial choices with personal values and advocates for a values audit to ensure your spending reflects your true priorities. He also warns against excessive saving, urging listeners to invest in their well-being.
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Money & Happiness
- Money can buy happiness, but it depends on how happiness is measured.
- Needs-reduction happiness plateaus around $100,000/year, but subjective life appraisal increases with higher incomes.
Car Example
- Buying a Lamborghini might provide a temporary happiness boost, but it fades quickly due to habituation.
- Joining a car club after buying a car leads to greater happiness because of the social connections.
Combating Materialism
- Avoid materialism by prioritizing community and focusing on personal growth, not comparing yourself to others.
- Practice gratitude to increase well-being.
