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BUSINESS Wednesday 9 January 2019
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Millennial Money: How to buy happiness

By GREGORY KARP utes to people’s happi-
Associated Press ness.” Paying off debt is a
If you have a few extra good idea, and building
bucks that you don’t need an emergency fund is an
for necessities like rent or especially good one. It pro-
loan payments, consider vides cash for not only real
shopping for happiness. emergencies, like a car re-
From ancient philosophers pair, but all those emergen-
to current experts in be- cies in our heads that never
havioral economics, peo- happen but keep us up at
ple have been pondering night because they might.
the link between money Happiness is silencing the
and happiness. Among haunting what-if voices.
them is author Gretchen “The freedom from worry is
Rubin , who thinks about a big boost to happiness,”
happiness for a living. She’s she said.
written several books on — BUY WIGGLE ROOM.
happiness, including “The If you have extra cash,
Happiness Project” and the use it to allow yourself to
forthcoming “Outer Order, In this Nov. 13, 2018, photo Vitalii Myroshnychenko, right, test rides a bike atop a stand as Denis be sloppy without conse-
Inner Calm.” She helped Rybalchenko looks on in REI Co-op’s flagship store in Seattle. quence.
think through the question Associated Press It could be as simple as
of whether you can use — BUY SOLUTIONS. that’s a good way to spend “The question is always, buying a few extra pairs of
discretionary money to buy Also known as “throw mon- your money,” Rubin said. ‘Is it cheaper than mar- underwear so you’re not
happiness. Short answer: ey at the problem” or “buy — BUY STRESS RELIEF. riage counseling?’” Rubin pressed to do laundry ev-
probably not. back time.” ‘’One thing Is there a simple fix for recur- quipped. ery seven days.
A lifetime happiness shop- that makes people happier ring arguments or sources — BUY MONEY PEACE. — BUY A DO-GOODER HIGH.
ping list might go like this. is to feel they have control of stress, especially with a “One of the greatest luxu- Be charitable . “Contribut-
— BUY BETTER RELATION- over their time and they’re significant other? If you ar- ries money can buy is the ing to others is a great way
SHIPS. not doing boring chores,” gue about a messy home, freedom not to think about to support the causes you
Key to happiness is how you Rubin said. So that could can you afford maid ser- money,” Rubin said. “And believe in and put your val-
deal with other humans. It’s mean paying someone vice? Or, can you afford financial security is some- ues into the world,” Rubin
a recurring theme. “So if else to do yardwork or us- not to get maid service? thing that really contrib- said.q
you’re spending your mon- ing a full-service laundry.
ey to broaden relation- It’s the balancing act of
ships or deepen relation- money vs. time. If you have
ships, that’s a good way a little extra money — prob-
to spend your money,” Ru- ably because you sold your
bin said. Use discretionary time to an employer — buy
money to attend a college back time by paying for
reunion or a friend’s desti- convenience.
nation wedding. A corol- — BUY ACCORDING TO
lary, especially for younger YOUR INTERESTS.
adults: Buy a social life. What represents a happy
Young adults often expe- experience for one person
rience an intense period is not necessarily the same
of socializing with friends, for another. Someone who
searching for life partners mostly dines out should
and networking for career probably not use discre-
opportunities — all poten- tionary money to buy a
tial sources of happiness. fancy set of kitchen knives.
Maybe increase social bar- But someone who loves
and-restaurant spending or to cook? Maybe so. Rubin
pay for a dating app. reminds us, “Beautiful tools
— BUY EXPERIENCES make work a joy.”
— AND SOME THINGS. — BUY DISCIPLINE.
The usual advice is “buy Want to improve your diet
experiences, not things.” or fitness but have trouble
But that requires a deeper summoning motivation?
dive. “What I find is often Use your money. That
the line between experi- might mean choosing a
ences and things is not that pricier gym that’s more
clear,” Rubin said. A bicy- convenient or even hiring
cle can provide an experi- a personal trainer to add
ence, and a new camera accountability. At the su-
can preserve one. So buy permarket, it could mean
experiences, especially buying healthy foods that
with other people, but also are more convenient, like
think about buying mate- bagged salad.
rial things that allow you to “If you can make it slightly
have experiences or en- easier to get yourself to do
hance them. something you want to do,