How to Buy Happiness
Sent to subscribers on Jul 30, 2024. Reproduced here as it was written.
I'm Jacob Katz, and this is The Renewal: an independent, subscriber-supported health newsletter that summarizes free tools for everyday life.
Money CAN buy happiness.
You know what bugs me about "money doesn't buy happiness"? It tries to trick you into settling. Dream bigger.
Truth: Money CAN bring happiness — if we spend it on what matters most to us.
This weekend, spend money on one thing that makes you happy. Get a massage, buy concert tickets, order sushi delivered. Make an effort to spend money on one thing that you LOVE, and then pay attention to how it makes you feel.
Once you identify where spending creates your Golden Life, prioritize those — while cutting ruthlessly on things that don't matter.
Come up with a concrete vision of your Golden Life. I don't care about fancy clothes, so I buy basic clothing at H&M. On the other hand, I LOVE exploring new countries.
One way to start envisioning your Golden Life is by imagining your perfect day:
Where (and what time) are you waking up?
Who are you with?
How do you spend your time?
Work backward to see what steps will get you closer to that vision.
For my 4 year anniversary, my girlfriend and I are hiking the Dolomites in Italy.
But if your Golden Life includes spending more time playing sports, or being able to pick up your kids from school every day, or buying yourself fresh flowers once a week… then you might not need more money. All of these Golden Lives are valid.
Design your Golden Life around what YOU care about. Be satisfied by your own metrics — not by others'.
You can be fabulously rich and deeply unhappy. For a decade, everyone's thrown around a famous study that found money actually can buy happiness — up to a point of about $75,000/year. (That number is closer to $500,000/year now.)
Some people become millionaires multiple times over… yet remain unhappy. This is the "miserable minority." If your life makes you unhappy, then no amount of money will solve your unhappiness.
Spending on something you love can include being generous. You can tip more, donate to a cause you care about, or send fried chicken to your mom. It feels great.
Someone else's Golden Life might look like "less" to you because you have different Money Dials. But to them, it's incredibly fulfilling. That's the only thing that matters.
No more excuses. It's time to take control of your financial future and start living your Golden Life today.
Best,
Jacob & The Renewal team