How To Spend Money to Buy Happiness
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- čas přidán 7. 06. 2024
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"If money doesn't make you happy, you're probably not spending it right."
In this episode of Journal Club, we explore nine principles pulled from scientific research papers that'll help us to get more from our money.
Why I Donate 10% of my Income to Charity Each Year - • Why I'm Giving 10% of ...
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00:00 Intro
00:19 Spend money on experiences rather than on things
01:43 Spend money on friends
02:21 Spend money on health
04:24 Spend money on small things rather than big ones
05:20 Delay consumption whenever possible
06:56 Spend money to buy back your time
08:30 Spend money to remove salient negatives
09:53 Spend money on things that enable interesting activities
11:07 Spend money on charity
MENTIONED IN THE VIDEO:
👓 Read the research paper for yourself: scholar.harvard.edu/files/dan...
🎙 Michael Norton's talk at TedX Cambridge: www.ted.com/talks/michael_nor...
"Giving Without Sacrifice?" from Andrea Mogensen: go.aliabdaal.com/givingwithou...
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"Spend money to buy back your time" - To have freedom of my time has been the most important goal of my life. I'm glad to know I'm not the only one who values this!
The first tip is truly all you need to know for elevating happiness levels through money. It’s so important to create experiences and memories. That’s what life is all about. 💛
and i recommend,write down the experiences & be thankful - be a life quality tracker 😊
ask answer 😂
I don’t want to experience anything other than laying in bed, working remotely, and going to gym and eating and watching social media and reading. That’s it. I have no desire to form a better career, married, travel, nothing. I like being alone
I can attest that these tips really do work!! I'm fresh out of college, still living with my parents, and working two jobs. Even though I don't make a lot of money, I can still use what I have to make my life better. For example, I recently saw that my FAVORITE artist was on tour and I immediately bought a ticket. I had never been to a concert before and I went alone, but it was one of the BEST days of my life! I've also invested a lot of money into my physical and mental health, I finally have health insurance from my job and I'm taking full advantage of it. I'm saving my future self money and pain (and possibly adding years to my lifespan) by taking care of myself now instead of waiting until later to deal with my health problems.
I had facial acne treatment for the first time after years of being embarrassed about my skin. It has improve after I consulted a doctor and taking treatment for my PCOS. Truly, money can buy happiness - or even confidence - if we know how to spend it.
I also have PCOS. My tip for you is to drink warm water with some fresh lemon juice in the morning everyday. My face barely ever breaks out now.
@@wasawasabi1054 Thank you!
Mate, this is the best video you have ever made. So much VALUE in 12 minutes, absolutely fantastic. Much appreciated, keep it up Ali!
This is just what I spoke with my friend today. If you not spending your money on things you love and just save; that's also a wastage of money
Yes on the cleaner! Got a cleaner when pregnant with my second son and she cleaned our place once every two weeks for 12 years. Also worked as a babysitter for us sometimes!
Thank you so much Ali for change in perception towards the money.
About the last point. I really think doing stuff you don’t like in doses is important too. It gives you time to think and value other things more. It grounds you in a certain way.
I agree. It kind of makes you realise that how lucky you are that you don't have to do this all the time, almost like it makes you realise how good your life ACTUALLY is
The slower delivery of this video is noticeably better than the Ultimate Productivity System video 👏 so it’s way way better. Nice one. This relaxed speaking style definitely suits you better dude.
Oh my god I love that you're doing journal club on CZcams!!
This is a great discussion. My only critique would be the focus on happiness at the expense of classical "character building" can make us happier, but also weaker and meeker in character. Raising children for example, it's important they have chores for that reason. Modern societies focus on being individually happy isn't always healthy.
I would say that success or hapiness are about achieving your goals. The money is just a consequence of that.
Studies have found the happiness decreases after parents have children, however the fulfillment and meaning they get out of life increases. You’re right, life isn’t *only* about being “happy”
This is by far the most argued topic we all see things differently but this video has given a clear answer to the argument.
Thank you so much for this video! It was something I really needed instead of drowning out my emotions through work
Thanks for the great tips, Ali! I'd love to know if you've ever invested in yoga or meditation and if this has played a role in happiness for you personally. Thanks and keep the great videos coming! 😄
Right subject matter for me and the right time. Thank you 🙏
absolute impeccable timing during a cost of living crisis and millions having to choose this winter between heating and eating
Loved the video Ali.
Especially the 'anticipation of a good event' point.
Anticipation is like a drug!! Enjoy it many times more than the experience/thing itself!!👀💯
Thank You For This Ali ✊🏾
Great to see the Giving What We Can shoutout! 🥰🥰
BEST CZcams CHANNEL !!!!!!!!!!!!! FOLLOWING YOU CHANGED MY LIFE!!!!
This is the best sit down frame in youtube.
What a brilliant video idea! Everyone wants to make more money. But it might be one of the most common sayings that "Money can't buy happiness."
Well, lets find a way to combine the two, and help people spend the money that they worked so hard to get, on the rarest commodity possible, happiness!
agreed!
Hey Ali - Just wanted to say that I'm glad you emphasized the importance of mental health in this video!! Your videos were actually what inspired me to start my own CZcams journey recently and do my part in helping others. Your videos impact a lot of people. All the best, my friend.
Loved this, very insightful !
looool thanks man this really helped me
Thank you for the weekly videos🙃
Any chance you could make a video about your notion template I would really be interested and would help me a lot in understanding how you use notion
Brilliant video. Thank You!
"Wealth is the ability to fully experience life." ~ Henry David Thoreau 💪🏻🚀
Great insights!
Tip 4 sounds good in paper, but some of us struggle moderating our impulses. Thus abstaining is more efficient.
Thanks, I’ll rewatch this when I have money to spend
I agree on investing in experiences rather than things in terms of long term happiness but it’s not so straight forward.
For example I have invested a
great deal of money and purchased things that make me happy (eg a guitar that I dreamed of) and 6-7 years later that same guitar thrills me and brings me as much joy as the very first day I got it. That applies to other things I have bought also. So it’s not so black and white.
This was a very useful video. Thanks Ali!
Thanks!
Thanks for the share sir, enjoyed watching ....
"Don't associate your Happiness with something which has only Utility Value" I think this is the first video which says how to buy Happiness. Now Ali is basically trying to say that spend on experiences, Friend, Charity because it doesn't have Utility value and will make us genuinely feel Happier. 😊😊
logical and reasonable ideas that could apply to many different people with different situations and priorities, great video
Wowwww what a great video!!
Super helpful !
Feeling like you're constantly overlooked
can make us question our worthiness
Your worth can never be determined by
someone else, People not giving you the
credit that deserve is always their loss.
You don't have to prove yourself to
anyone.
thnk u sir for your explanati9on
Reading the title of this video makes me happy. Thanks Ali!
Thanks inbox me⤴️⤴️
Bravo, keep it up little brother.
this is amazing 😂 I just scriptd a video on THIS exact topic this week. omg
Amazing content. Keep it up!
This is the kind of content that we should watch early in the morning 💜
Truly, I woke up and kinda stressed for the upcoming mids and I saw this !!
@@lllllllll1150 Ali always got us covered 🫂
I needed this !
Some wonderful insights! I know Naval Ravikant came-up with the idea of setting an hourly rate for yourself, and uses the example of not returning an Amazon package that is worth less than the hourly rate. It's fine to take other people's ideas and profit from them, but you should probably give them credit (at least in the description). I've noticed the same thing in other videos.
Experience not things?
Friends rather than for yourself?
Small things?
Charity?
Become a scout leader (or other regular community charity activity)
Plus Ali, I know you would like to be remembered as a good teacher. I benefited greatly from this kind of activity and am in fortunate position to donate some of my time for the next generation.
Amazing!
Love your content but was wondering if you can make a video about what you have been learning lately (How to live long)? I thought that would be interesting...
tysm
My wealthy friend wants to spend time in my small condo apartment to feel happy. She lives in a mansion but says that there is no happiness there. I was surprised by what she said because I thought that people who lived in mansions were happier than people who lived in a small condo apartment.
The thumbnail is really beautiful. Matches really well with the title.
Kindle is my favorite purchase too. Really recommend getting it to anyone reding this comment.
Mr. Ali Abdaal, Can you please give me link of paper that you are holding in your hand?
Jesus Christ i sometimes forget the level of production you guys have
Thanks for sharing
Thanks inbox me⤴️⤴️
Ali, I love your laptop skin! Where can we get it
saving this video not because I’m privileged enough to ask this question today, but for the future me 😁
Just the video I need before I win the Mega Millions. Thanks Ali! (I'm predicting that playing the lotto isn't on this video lmao)
what is that skin for your matchbook? Where'd you buy it I want it sooo bad.
Thanks
I really like this video so far (making this comment about 6mins in), probably a separate discussion and not really what this channel is about but the topic of credit cards is potentially an interesting one. I agree with what you said to a degree about them encouraging people to spend what they don’t have and therefore not being good, however I also disagree because IF used properly (and that’s a big IF) they are the safest and most financially savvy method of spending Your money. Your spending is insured against fraud and theft (not the case with debit cards) and you build a great credit history whilst using them as long as you pay off your balance in full each month. The key is to only use credit cards to buy the things you would normally by on your debit card anyway (food, fuel etc) and to not spend above your pay check (minus rent and any other monthly deductions you have). For the purpose of your video I tend to agree with the statement on this subject but if people can switch their mind set and use credit facilities appropriately it actually makes sense to spend in this way AND would lead to greater happiness through financial freedom 😊
It seems like I'm already sold on this idea of discussing Research Papers.
Hi Ali ! Here's a try for the poem about skillshare you asked for ! :)
Grandpa died yesterday
It’s 2 A.M And I’m full of emotion
I stare into the sky and universe
Asking me a lot of questions
Who will teach me life now
Who will reply to my « why? » and my « how to? »
I need a night out
Feeling high, strolling on the avenue
After a few steps
An idea pops in my head
Looking on internet
For a place where knowledge is shared
My heart was full of love
When I discovered skillshare
People from all over the world
Spreading their know how for the other
Knowledge is not worth anything on it’s own
It gains values by passing it on
So I think I found the treasure
A website with infinite ressource
I thought I was a dreamer
But if I follow Fatih I can become a drawer
If I listen to Zak I can be a filmmaker
And if I take inspiration of Ali, no doubt, I will be better
Providing so much courses, is it still fair ?
Personal development to kill scare
Aim for gold not for silver
It’s the success that you will flair
My grandpa can be reassured cause now I got skillshare
Loved the video ❤️
🚀Gracias, no dude en enviarme un mensaje si necesita más orientación y consejos de inversión.
I was listening to Ali while I was cleaning my room and then he started about cleaning 😅
Right! Now I just need to have some money to spend things on.
Greatest CZcams channel ever 👏
I am a Bangalee...From Bangladesh
Omg, I found amazing channel 🥺
The door frame pull up bar was great b-roll 😂 nobody should have a doorframe pull up bar… especially in a rental property 😟
Let's Talk ⤴️⤴️
I like your MacBook cover, where did you get those
Everyone should see this videos!!!!
I agree!
Great video.
Ali is the only person I met who noticed that time is the only unrenewable resource we got. Time is the single most valuable thing in the universe.
rich people know that. Money buys you time.
@@SueRosalie Actually I disagree. Time isn't something you can buy. You can buy a possibility to not do stuff you don't want to do like work, chores etc. But many rich people are workaholics.
Good video mi bro
Best youtuber on this app
I wish there was an Arabic translation. and thanks
Very nice video. Thank you...
Love you dude
Oh I love cleaning the bathroom Ali In fact, I sometimes clean it even if it's not dirty yet lol 😅😅 Anyway, thank you for this useful video.
wow this is really nice
In terms of outsourcing , especially for lower paid jobs such as cleaning and childcare, do you think that we should pay on a sliding scale. What I mean is that ethically we could say decide to pay minimum wage or common standard wage for that skill. But should we be thinking instead something more like what is the lowest amount I would accept for an hour of my time and pay that amount instead (assuming it's higher than minimum wage)
Giving to philanthropy will bring you a lot of happiness if your in a position to do so.
Nice job
earliest ❤️
great video
I'm kind of analyzing your videos to continue my own channel. It would be interesting a video (if not yet) about how much raw video time you have for a 15 minutes video and how you manage to make it. It happen to me for example that when editing i realized that i cannot make a phrase sound really well because I have to cut a word and I speak quickly for example and it ends being not smooth enough. Does that happen to you? You record the thing again?
Do you speed up your video on production?
What experience could be fitting, if I’m really anxious while any kind of travelling? And I mean panic attacks when I can’t find a bus, not just social anxiety
Well your bicep look good in this one ali
Where is the MacBook cover from please?! Thank you!! :)
Thanks inbox me↖️↖️
Appreciate your comment
alright, Ali. Can I justify that board games are "experiences"? Even when my shelf is bursting, i think so :P
Loved the idea of outsourcing what you don’t like doing to create more time for the things you love doing!
Ethicist Peter Singer has good advice on how and why to spend a proportion of your salary on donation to charity
Dr. Abdaal, what do you think of or see my gift to you? Like what quality is it?