When in doubt, do the math.

May 11, 2016 12:22 PM

"Happy Money lists five principles of happy spending:
1) Buy experiences
2) Make it a treat
3) Buy time
4) Pay now, consume later
5) Invest in others
Five principles are four too many for a lazy reductionist, let’s see if we can identify some common themes and combine these ideas into a single framework that would lose all nuance and intricacy but be expressible as an equation. (Spoiler: of course we can, duh)."
posted by zarq (31 comments total)

This brings us to a crucial point that the authors also address: “things” and “experiences” are points on a continuum, not exclusive categories.

I'm really glad this was brought up, both in the book and in the post. People often assume "experiences" are things like cooking classes and trips to Italy, but a thick, plush, luxurious towel is an experience for your ass every single time you get out of the shower.

You can also "make it a treat" by not showering very often, thereby maximizing your happiness ROI.
posted by Metroid Baby at 12:41 PM on May 11, 2016 [59 favorites]

My favorite experience is the experience of having things.
posted by Parasite Unseen at 12:47 PM on May 11, 2016 [17 favorites]

Often I have wondered, is it better to possess things or to experience things? I posed this question to my manservant, who observed that both choices are very good indeed.
posted by prize bull octorok at 12:52 PM on May 11, 2016 [52 favorites]

You can also "make it a treat" by not showering very often, thereby maximizing your happiness ROI.

I've field tested this and can report that it works, but only when single.
posted by griphus at 1:10 PM on May 11, 2016 [1 favorite]

(Looks at all my books.) Are you sure?
posted by Bella Donna at 1:10 PM on May 11, 2016 [24 favorites]

I've field-tested it as well and can report it also works if what is smelly to you is fragrant to your sweetie.
posted by Bella Donna at 1:12 PM on May 11, 2016

I mean if I had access to a time machine one thing I'd do is revisit every single time younger me walked into a Borders so I could cold-cock myself and yell JUST GO TO A LIBRARY IDIOT, YOU'LL BE HAULING THESE AROUND FOR YEARS
posted by prize bull octorok at 1:13 PM on May 11, 2016 [52 favorites]

For anyone who isn't too hot on having to wade through an entire book, here's the original paper by the authors the book is based on, which goes into these principles and more: If money doesn't make you happy, then you probably aren't spending it right
posted by un petit cadeau at 1:13 PM on May 11, 2016 [5 favorites]

I too have many books.
posted by museum of fire ants at 1:14 PM on May 11, 2016 [1 favorite]

The guideline I use when buying things is: will this allow me to do something new, or will this allow me to do something I already do better? Items that fulfill the latter are preferred.
posted by the man of twists and turns at 1:16 PM on May 11, 2016 [4 favorites]

4) Pay now, consume later

I hadn't realized how enormously happy my Steam queue must be making me.
posted by straight at 1:19 PM on May 11, 2016 [27 favorites]

I've field-tested it as well and can report it also works if what is smelly to you is fragrant to your sweetie.

There's no meta-studies to confirm this so I cannot claim objective fact, but if you continue your experiments (as my lab did despite the administration indicating the experiments should cease immediately for biohazard reasons) you may discover that there is an "event horizon" to this phenomenon beyond which, and I apologize for my use of unscientific language here, there be dragons.
posted by griphus at 1:20 PM on May 11, 2016 [5 favorites]

(Looks at all my books.) Are you sure?

I too have many books.

I just gave away 189 books (I still have a bit more than that.) Records are next.

It feels really good.

JUST GO TO A LIBRARY IDIOT, YOU'LL BE HAULING THESE AROUND FOR YEARS

Or that, yeah. The Internet has certainly changed things as well. The "rarity" of books has decreased considerably.

Think of how much money you save by not having a gym membership!

Libraries are free, and even the odd fine or lots of fines or even replacement fees are trivial compared to the value of the library. TRIVIAL!
posted by mrgrimm at 1:36 PM on May 11, 2016 [5 favorites]

I've found few things give me as much pleasure as Getting A Shitload Of Books Out Of My Apartment, Forever.
posted by griphus at 1:41 PM on May 11, 2016 [8 favorites]

Make up your minds, people.

/bookseller
posted by jonmc at 1:49 PM on May 11, 2016 [10 favorites]

The "rarity" of books has decreased considerably.

Nowadays, the only books I'm likely to buy are the big coffee-table kind with great pictures, like City of Darkness or the Codex Seraphinianus.
posted by chimaera at 2:13 PM on May 11, 2016 [3 favorites]

This year I skipped getting up at 4:30AM to go stand in line for the opening day of our massive, magnificent Friends of the Library Booksale.

Instead, I spent three extra hours in my warm, cozy bed.

I can't decide if my net happiness went up or down as a result, though.
posted by RedOrGreen at 2:18 PM on May 11, 2016 [8 favorites]

I vastly prefer the rowdy, jocular line for the opening day of our FOL sale to the sale itself. But I have to go in and buy books or the line is retroactively a not-fun experience. I guess that's because of the post-sale experience--go to breakfast with friends and look at all the books (that we will likely never look at again). It is tripartite or it is a bust.
posted by Don Pepino at 2:45 PM on May 11, 2016 [1 favorite]

Just a note here for people, at the thrift shop I work for we have a recycling dumpster solely for books. It's back breaking work unloading the unsellable books into it. We're very grateful for interesting and popular books (not always the same thing, Fifty shades and Twilight are best sellers) in good condition. Please bear this in mind if you're thinning your collection and want to donate. Also come look at our collection! The books are cheap and judging by some of the spines on the Twilights we have, they've only been opened once.

Sorry to derail but it seems that people use our charity bins to get rid of their trash and walk away feeling good about it.
posted by adept256 at 2:48 PM on May 11, 2016 [3 favorites]

This year I skipped getting up at 4:30AM to go stand in line for the opening day of our massive, magnificent Friends of the Library Booksale.

Ah, for the days I lived in Ithaca. Thank you for that sudden shower of warm memories.
posted by AdamCSnider at 2:52 PM on May 11, 2016 [4 favorites]

I think that the best thing to spend money on is yourself, since you are your longest-term investment, and if your bubble bursts you won't know about it. Since spending money on yourself can encompass experiences - travel, classes, cheese tastings, etc. - or things - nice clothes, good books, computer upgrades (which are all, really, experiences in and of themselves) - and so is never wasted money.

But you can get better return on investment for yourself by buying, say, a barbell (thing) and then using it (experience) than you will by buying expensive scotch (thing) and getting shitfaced from it (experience). It's about where your values are and how long you expect it to be before you cash out.

Flossing, for example, provides remarkable return on investment, probably the best in the world given how expensive dental work is and how inexpensive tooth floss and ten minutes. But how few of us (myself included) do it while we save up for a trip to India or a new car.
posted by turbid dahlia at 2:55 PM on May 11, 2016 [8 favorites]

I think that the best thing to spend money on is yourself, since you are your longest-term investment

You are John Galt and I claim my £5.
posted by acb at 3:26 PM on May 11, 2016

How I enjoy my money:
- Pay bills
- Make do
- Make payments on time
- Avoid charging now and paying interest later
- Invest in bare necessities

Also, the reviewer's notion of "the best" barbecue sauce is something I cannot agree with.
posted by Greg_Ace at 3:59 PM on May 11, 2016 [1 favorite]

Foul! Sarah Silverman gets props as the original author of the "make it a treat" philosophy.
posted by Bob Regular at 4:02 PM on May 11, 2016

I actually get a surge of tangible pleasure when an episode ends and I realize with joy that the next one will autoplay, so for me binge watching is absolutely worth it.
posted by Deathalicious at 4:10 PM on May 11, 2016 [1 favorite]

Who is John Galt?
posted by turbid dahlia at 4:19 PM on May 11, 2016

Oh god.
posted by turbid dahlia at 4:20 PM on May 11, 2016 [5 favorites]

you don’t actually have a hedonometer installed in your brain

I suppose one could measure dopamine levels and derive a value as a ratio to neural mass.
posted by sourwookie at 4:29 PM on May 11, 2016

There's a lovely bit in Dion Fortune (probably _The Winged Bull_) about the importance of doing what it takes to have good oatmeal rather than cheap oatmeal. There's somewhat about the pleasure of having a really nice dressing gown, which I think is something like a bathrobe.
posted by Nancy Lebovitz at 7:32 PM on May 11, 2016

MetaFilter: an experience for your ass
posted by Foosnark at 5:23 AM on May 12, 2016 [1 favorite]

I think that the best thing to spend money on is yourself, since you are your longest-term investment

I agree partially ... but then what is life without connection? The best money you spend is the money you give away, in charity or in gifts to those you love. Remember the best things you spent money on. I would bet at least one or some were gifts for someone else.

No one regrets not spending more money on themselves; people do regret time/experiences missed with friends/family. Give it away, yo.

Also, the reviewer's notion of "the best" barbecue sauce is something I cannot agree with.

I've been spending years trying to find the best "pantry" BBQ sauce, and I go back and forth but right now I think the one I like the best (despite no ketchup, which I had previously thought essential) is Isa Chandra's:

1/2 cup vegetable broth
2 T pure maple syrup
2 T molasses
2 T tomato paste
2 T peanut butter
1 T soy sauce
1 T apple cider vinegar
1 T Dijon mustard
1/2 t liquid smoke
1/2 t Sriracha

Voila! It's a few more ingredients than aforementioned castle sauce and molasses is a mess but not really any harder. Maple syrup is the (albeit pricey) king of sweeteners. Forever!

Oh yeah, money? Most of mine goes to food, beer, and marijuana. I'm doing "OK." Staying alive.

Honestly, really, truly, the best advice is to stay out of debt, which seems simplistic, but the worst I've ever felt was when I owed a lot of money I didn't have.
posted by mrgrimm at 8:03 PM on May 15, 2016 [1 favorite]