Happiness Tip: Pay now, Consume later.

If you buy an experience, make sure that it is well into the future, so you can look forward to it. Ufabet.

Happiness Tip: Pay now, Consume later.

Happiness Tip: Pay now, Consume later.

Six months from now, what would you like to do? See a certain band with your friends? Invite someone who you feel a lot of gratitude towards to a nice restaurant? Buy the tickets or the gift certificate now. Or go long. Ten years from now, what would be your dream experience? Start putting money aside in a separate happiness account.

Keeping up with the Joneses

Keeping up with the Joneses

Imagine that in the first world, you make £50,000 per year and everybody else makes £25,000. In the second world, you make £100,000 per year (so twice as much as before) and everybody else makes £200,000. Prices are constant, so a cup of coffee will cost the same in either world.

What about you? In which of these worlds would you choose to live? Usually, over 50 per cent of the audience would prefer to live in the first world. This is consistent with academic studies that have been carried out many times since the question was first posed at Harvard University in 1998. The reason why a large proportion of us prefer to live in the first world is that we not only care about our ability to consume, we also care about our position in the social hierarchy.

This is the reason why we try to imitate the consumer pattern of people who are richer than we are. At the same time, the availah of credit has made it easier to imitate a lifestyle we cannot afford. and this, together with our desire to keep up with the Joneses, has been listed as one of the explanations for the financial crisis of 2008. In other words, we are spending money we don’t have to buy stuff we don’t need to impress people we don’t like.