Most of us think more about how to earn money than how to spend it. Implicit within this is the assumption that ‘the more money I earn, the happier I’ll be’. But there has been extensive research that shows that the way you spend money can make as much, if not more, difference to your happiness than how much you earn. Perhaps the best academic paper on this is ‘If money doesn’t make you happy, then you probably aren’t spending it right’ by Dunn, Gilbert and Wilson. It highlights eight evidence-based approaches to spend your way to happiness. Here they are:
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