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Living Rich by Gregory Karp

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Appendix . A Final Thought: Buying Happiness

The point of reading this book, assuming you accepted the spending smart philosophy, is to spend less money on things you don’t care about so you can spend more on things you do care about.

But what do you care about? Or more importantly, what should you care about? How should you spend your money to derive the greatest happiness?

This is the subject of academic study, and the conclusions are in: It seems we can, in fact, buy happiness. The key is this concept:

Positive life experiences contribute to happiness more than things do.

This point about spending for happiness was well-documented in research by Leaf Van Boven of the University of Colorado at Boulder and Thomas Gilovich at Cornell University. They ...

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