I took Yale's 'most popular class ever'—and it completely changed how I spend my money (via CNBCMakeIt)
about things like their income and whether they were living the best possible life for them. The data showed that while happiness does rise with one's income, the correlation peaks at about $75,000 per year.
Santos continues: "Money doesn't increase happiness in the way that we think. Our minds are lying to us about how much of an impact extra cash will have on our happiness."Later in the class, Santos interviews Elizabeth Dunn, a happiness researcher and the co-author ofThey discuss why spending money on experiences, rather than things, is what makes is happy.
Okay, that makes a little more sense: It's more about the trade-off. Money can make me happy if I focus on buying things that generate the same positive experience over and over.Laurie SantosNovel and often short experiences, like an expensive shirt that I'm not going to wear everyday, is less subject to hedonic adaptation. The objective is to keep happiness from fading.Santos ends the class this way: "So does money really make us happier? Maybe a little bit.
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