Harvard Professor Reveals The Real Reason You Want More Money

Did you know that how you use your money can impact your happiness? Find out how you can achieve lasting financial happiness in this interview with social scientist Dr. Arthur Brooks.

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[byronomboy]

Happiness concerning Money:
1. Buying Experience - use money for travel, activities, etc. with the people you love
2. Buying Time - pay other people so you have more time. Spend time for meaningful activities
3. Giving Money Away - consistently shows at various research
4. Saving Money - sense of making progress

[jbmboy]

"Whoever said money doesn't buy happiness already had the bills paid"

[freedomring]

at the 12:00 mark he is 100% correct about getting the happiness bump once the house is paid off.

[eikajung]

My parents lived modestly, they worked for the church and gave back 30% of their church earnings back to the church. There was no concept in their minds about passing on money to their kids or even the house they lived in. Recently, they even thought about donating their house to the church. I understand that this interviewee is comparing giving with just mindless spending. But what if someone doesn’t mindlessly spend? What if they already give a lot? They might feel happy but I know that the rest of the immediate family is pained and struggles with the extreme giving. I write this because maybe it’s applicable to some people and to say that giving is good but it can have problems too.

[egl]

I'm sorry but money does solve problems. I was in pain for years and paid a surgeon to fix it. If I didn't have the money I would still be in pain to this day. Is there a difference between having $100 and 1 million dollars? YES. Is there a difference between having 2 million and 4 million dollars? Probably not. Money is a resource that is used to meet our needs. Our needs have a price, and at this moment in time most people can have them met for a particular amount (e.g. 100K/year).

[ryanthen]

This is the classic "over-thinker" type who really has no clue. Life is pretty simple (not easy). Money does solve problems. This guy makes a simple concept complicated.

[ctreif]

Great talk. I agree with you both and think that how you spend your money and time really show your character. It is true, whether you are rich or poor. Use the resources you have in life wisely.

[untouchablex]

"How do you know if someone you just met went to Harvard?" He will tell you very shortly after introducing himself.

[columbasanchez]

Thank you, the interview with Dr Brooks and your knowledge Rachel made me more clear on the accomplishments I need to continue to change and work on myself. ❤

[Moving.To.Charleston]

Thank you 🏠Paying off mortgages provides a significant happiness boost, while credit card debt is detrimental to happiness, with research showing that the regret of consumer debt outweighs any satisfaction from purchases.💰Consistent philanthropic behavior not only makes people happier and healthier but also enhances perceived attractiveness, particularly for men in the eyes of women.

[Elaba_]

Resilience is part of your personality. You will notice whether you possess this trait or not when you are in deep trouble. Money can make a person happier, but that is personal for everyone.

[jasonwills]

You can buy problems also. Great conversation

[jenniferh]

I know it is a nice, first-world problem to have but I relate to the issue discussed at the ten-minute mark. My parents (wisely) taught me to save, save, save. I appreciate that but I am mid-life and don't need to keep saving and scrimping. I have a lot of anxiety about spending more than the bare minimum on basic expenses. I never thought about it from the perspective of how this might be bad for my child. Thanks for the reminder to be more balanced. Hard to break out of the scarcity mindset.

[paolamura]

The main thing money should provide is freedom. But lots of people just literally burn it. Me included. I've realized just now..at almost 60...how much money I've also burned.

[Chet_]

The real reason i want more money is so i can stop working. I get no joy or satisfaction from it.

I prefer a life in which i have enough money to never work again so i can wake up at 9am or so, cruise around in my track pants, lift, play video games for 6-10 hours a day, sleep, and then repeat.

[HelloWorld-hbyt]

i don't need a professor to tell me the reason i want more money.

[thomasjpuleo]

Here is my conundrum and query: If I buy a car or a piano or whatever, it allows me to have experiences. Same with the art I hang on the wall.

[grownupgaming]

12:54 Super awesome interview I learned so much. But I disagree with this one point, some people, like me, are wired such that they will become full of worry if they see all their friends having low mortgages and not being able to invest with that extra money. I feel much more calm and peaceful when I know I also have a low rate loan and am putting that extra money into the sp500

[jennifergill]

What a great interview with two of my favorite people, Rachel and Arthur! Thanks for what you both do for us all! God is so good! "High class problems", loved that! Such solid advice, as always.

[saelaird]

I think there are starving people in America.