You're spending money the wrong way..
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- Опубліковано 12 чер 2024
- Money can buy happiness but only if you spend it the right way, today we will look at how you can be happier using your money.
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Links from video
Ruuts work:
• What Makes People Happ...
• Making social conditio...
link.springer.com/article/10....
Pascal's work:
• The neurobiology of ha...
Michael Norton:
• How to buy happiness |...
Elizabeth Dunn:
scholar.harvard.edu/files/dan...
Kennon Sheldon & nSonja Lyubomirsky:
www.researchgate.net/publicat... ( i had to pay for this paper)
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Timestamps:
00:00 - I'll be fine once I get it.
01:40 - Satisfaction
03:22 - Rats and happiness
05:35 - We just can't help ourselves
07:04 - The Daily Upside
08:02 - This will make you live longer
09:20 - The best way to do it
10:17 - Reverse Hedonic Adjustment
14:37 - The best way
16:15 - Outfit change.
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DISCLAIMER: I am not a financial advisor and none of the content on this channel is financial advice. All information is provided for educational/entertainment purposes. If you are making investment or other financial decisions and require advice, please consult a suitably qualified licensed professional.
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In keeping with the theme of this video I will be donated the fee I get from them to ‘Sean’s place’ it’s a charity local to me that does great work.
My advice - I’m a very happy 58yr old who will retire soon: 1. Build a balanced life career + friends + hobbies + sports + interests + family + children + marriage 2. Appreciate the free things nature has given us - sea, woods, trails, wildlife, air, rain, wind, body, senses, colours, 3. Save for rainy days/retirement 4. Stay fit & in shape, 5. Always leave toxic work environments/people
I like your outlook, and hope you enjoy your retirement. Thanks for the good advice 🙏
Thanks for sharing this!
Props to you, i couldn’t retire at 58.
4 months in and having been really busy with moving house, helping my kids move houses, holiday etc am now twiddling me thumbs ! Only so much running, squash & biking I can do in a week. Ordered a couple more “retirement” books and putting feelers out for p/t work 🫨
Thank you sir! I do agree with you
You should be so unbelievably proud of this video. Content, production, message. Thank you for putting this into the world.
Thank you so much Grant. Lovely comment and i am glad you enjoyed the video
Could not agree more
Absolutely. I was going to comment something similar but this says it perfectly. Bloody brilliant. 👏
I would say same, this is a great review on happiness! So glad i clicked and watched. I relate to this because someone wanted to borrow money from me and I worried and contemplated for few nights coz its just so dear, and today God said I should be using every bit of opportunity to do charity and love, and so I said yes even if I’m uncertain. I have saved the money and it’s just in the bank, but that moment where the receiver just felt so relieved and thankful that I could be an instrument for them to alleviate their frustration and problems made me realize that I am lucky in so many ways and that made me happy, that moment you mentioned that the act of giving (time or resource) is a key to happiness - it’s weird but it works. Gave me a sense of purpose for a moment. Sorry for this litany and I could go on and on. Lol. But Thank you for caring about happiness and creating this content! 😊
Absolutely!
"Rich people tell you money can't buy happiness, so you remain poor in your delusion", that's what my mentor told me.
Your mentor is right.
Money can’t buy happiness but not having enough of it buys misery for sure.
Your mentor was a fool and so are you.
Oh, yet another useless quote about wealth
Most people who you hear in media are rather rich. So for them, it doesn't buy happiness, as they have too much of it. IMHO one of the reasons why extremely rich are prone to suicide is the fact they don't have to interact with other people the normal way and create social connections as they can buy almost all they want. When I need the bus driver to stop for me somewhere he doesn't have to, I have to be nice to him and so on. People are social animals.
This was such a good video with real practical advice as well as the more philosophical side of things. As a Muslim, charity is a huge part of my faith. In Islam, if you can't afford to give money away you're encouraged to view looking after your family as charity e.g feeding your loved ones. Even smiling at another person is classed as an act of charity. It doesn't cost anything to be kind!
Smiling at someone is charity! What a lovely sentiment and way to go about the world that is
thats become a big issue. the selfishness of 'family over community'
@@PazLeBonno it isn’t.
@@PazLeBon take off your pink glasses
Working as a care assistant has made me value the ability to walk around without needing assistance which seems so simple but it really is something to appreciate if you have that ability.
Thank you for the work you do 💕
This video is so true. One thing I also recommend is learning to low-level enjoy the things you do every day like breakfast, shower, going to the loo, walking the dog, driving the car etc.
@ Hali88
Analyse this comment Guy’s, it speaks volumes
Thank you
Few years ago I had a horrible accident and spent a lot of time in the hospital. The only thing that helped me not to sink into a big black hole of misery was my loved ones and photos on my phone from all the wonderful times and experiences I had over the years. I’m glad I was always interested in this topic and really researched things like happiness, old age regrets etc very early in life. I think it really helped me not to put my attention in the wrong places. Became minimalist in my early 20, prioritized giving and making memories.
My IVF daughter, the best 20k ever spent, by anyone, anywhere, ever ❤
❤❤❤
Love that 🩷
Yes, I think money can buy happiness, because more money reduces the financial stress, improves the living standards and access to better healthcare.
I remember all too well when I was a student, I had a tooth that grew sideways and started to rot, but I had no money to get it removed.
For over a year I was dealing with the constant pain of that tooth slowly rotting away.
I didn't sleep well and got underweight by losing over 20 pounds because eating was painful.
When I finally had the money to get it out, it was such a relief; even when I think of it now, I remember how nice that was.
Finally almost no pain and being able to sleep much better.
However, while that was about 10 years ago, I still have pain in the jaw from time to time, because a nerve was permanently damaged as well.
I definitely learned a lot of it, most importantly that money actually does buy happiness and that people don't give a crap about suffering of others.
I tend to realise in retrospect that I've been happy, but am often too wrapped up in things to notice at the time. Having a strong sense of purpose seems to be a key element.
It's worth noting, in a time when giving money may feel challenging for many, that giving time can be every bit as rewarding. I started volunteering at a repair cafe and it's been so satisfying, I've met wonderful people who have become friends and the sense of joy I feel when we fix a visitors treasured item is lasting and satisfying. Use your skills to help others and be kind, I promise you will be rewarded for it.
This is a great point. Volunteering benefits everyone.
As a Christian that doesn't come as a surprise. In our local congregation we help each other - sometimes just buying food for each other if someone is in a rough spot. Seeing the difference in that persons day makes all the difference. Giving makes happier than receiving. And if we do, it's likely going to be reciprocated when you yourself are struggling.
I've always gotten crap for focusing so much on the past, but where I am now I feel like my tendency to think about my past every single day is a blessing to my happiness. I have PTSD, and get stuck thinking about the traumas of my past and how horrific and miserable it was. But when I come back to reality, I look at my big house and my happy relationship and my disability support and how hard I've worked and how far I've come to build this peaceful life for myself after growing up miserable, and every day my appreciation for what I have is refreshed. I grew up impoverished and am now middle class, and that increase in income drastically improved my happiness, but since I'm often comparing it to where I started it doesn't really get old.
Smart 😊
This video is S tier. It’s the kind of life advice people used to get in Church. You are truly doing the Lord’s work. Bless you my son.
Thank you
One of the best pieces of advice I’ve ever been given when I was 21 was ‘You will only every be happy when you stop looking for it’.
Strangely, for a 21yr old but I listened in the main and it is actually true.
It wasn't until I had a disk hernia that needed spinal surgery and almost cost me the ability to walk that I truly became grateful and happy just to be able to walk and move freely each day. Really interesting ideas in this video, thanks.
I really appreciate how you don't cut at the end of sentence and just monologue. The pauses instead of the cuts makes it feel more genuine and not just another produced video
In terms of consumerism though, I buy things through the lense of "is it useful, will it help me" so I might spend £500 on headphones, or £200 on hiking boots, but its not out of impulse, and they serve a person. Mindless consumerism to keep up with the Jones' is what you want to avoid. Consuming quality products that add value to your life is a useful endeavour, and also a byproducts of a consumerist society, we can't demonise everything.
Thanks very much as this is an eye opener. Lost my dad last year and he was not a rich man but enjoyed helping others and this gave him a real buzz. I do similar - I grow loads of veg and fruit and just charge my costs, this gives people value for money and I really enjoy the helping people out . Again thanks for the insight and I think you are generally right, Cheers Nick
Your videos are always so well made and really thought provoking, love what you’re doing on this channel!
This is your best video yet. Well done mate, this was extremely good and I think it will really speak volume to a lot of your subscribers. Top notch content. Thanks for making this.
Beautifully nuanced video here Damo, an absolute pleasure to watch. Thanks for taking the time to put this together xx
2:29 Another thing I love about your channel are all the little musical references. It's a millennial music mystery tour.
Yes! Glad you enjoy them I had some fun with this one haha. Risked getting strikes just to get the references in
Love this ! I am training to be a counsellor and agree with everything you’ve said. I’ve always thought experiences mean far more than stuff and I have taken great joy helping others ❤ fantastic video
When I bought my first car it was great. When I bought my 70 year old dad a car because I was doing OK in life it felt amazing, and it still does years later. Even watching this video and writing this comment reminded me of it. Thank you for paying a dividend Damien :-)
This is something I need to do more of, spend too much time just putting money aside for the future, Mind im saving to move out, but i do think going away more, being able to celebrate what you've achieved and the small things in life, definitely will make things happier.
Great video, great message, something i needed after the past couple weeks!
I recently entered the legal profession in family law, and my job has made me so thankful for my husband and little family we have made. So thankful for the peace we have, even if materially we don’t have much. I’ve already seen and heard horrific stories that leave me on the verge of tears. It baffles me how truly priceless kindness can be and yet it seems to be lacking throughout too many people.
Came for the financial advice, and instead got insanely valuable life lessons. Amazing use of scienitific papers combined with memes and your signature personal energy to make this such a joy to watch!
I wonder how many peoples days you have made a little bit brighter just by them testing this out and engaging in the act of giving. Even if only a fifth of the people who watched do, that’s a good amount.
Good work Damo 👍
I've been thinking about swapping a subscription like Netflix and replacing it with a monthly Direct Debit to charity. After watching this video, that's exactly what I'm gonna do. Perfect example of great writing, research and delivery. Amazing video, Damo - keep smashing it!
This sounds like an awesome idea!
I pay a lot of income tax. I pay enough to charity with every pay packet. Government gives millions to “charity” run by cronies like David Miliband.
Most charities are scams. Pick a good one for your currency.
I'd be careful donating to big corporate charities. I've seen first hand the sheer waste within them. Go small and local if you're going to donate.
I did this and it’s very short term. It becomes just another line on a spreadsheet. To paraphrase, hedonic adjustment occurred and it didn’t help me. Selfish but there you go. I’ve adjusted and pick a new charity every few months, variance makes all the difference.
@@Yannerson I can't help but think that this such a sad way to view this. If you donate to charity with the sole intention of gaining something out of it, then of course it becomes just another line in a spreadsheet. You should donate to a cause you believe in and to make the world a better place, and sincerely believe that the world can become a better place if each person does something to improve it. You shouldn't donate to charity to be happy, it should be a secondary side effect. You should donate do charity because you sincerely want to do it, not to gain something out of it
I don't often comment on youtube but have to say this is one of the best videos I've watched on here in a very long time. I hope you're as happy as you deserve to be.
This video is brilliant, I came across your channel when you first started and now I look forward to each video you bring out. I am also enjoying the podcast too, thanks for keeping it real!
Great video Damien. I arrived here from your unfortunate video about the trauma you went through. This video is simply superb, very insightful and gives viewers so much to consider. I have now subscribed and wish I had found your channel sooner.
Money can absolutely buy happiness. Skiing, the Alps, and lots of snow and snow makes me sooo happy, a special kind of happy, and I can't go without money.
I think the biggest problem right now, is people are either struggling to pay a mortgage and bills, or cant save enough to keep up with rising house prices, to just have a place to live.
I'd love to spend my money on other things, but that option just isnt available to most anymore. I have a deposit bigger than what my parents 3 bed home cost 30 years ago, yet I cant afford a small freehold with a maxed mortgage.
I have more money now than ever, and can afford to do/have less.
SO much to unpack in this video - what a spectacular production! You just keep on giving Damien! Some truly important lessons here, backed by academic papers no less, presented in such an approachable and relatable way. There's no value that can be placed on content like this 🙂
Such a great watch but an even better message and story line. Absolutely smashing it man 🎉
You're a quality person Damien, well done. So much respect for your approach. Do whatever you feel is right with the money mate. What matters most is you feel the support the donations symbolize.
Mate I feel it in spades. I am blown away by it and so honoured
How have I only just found this video of yours? This video is incredible and the content and way its portrayed is exceptional. A great video with a very important message and one of the best I've watched on UA-cam.
I watch this on a regular basis. It reminds me that when I make choices that I hope will make me happy and the world tells me that it won't.... Trust myself. Thank you. Truly, thank you.
I missed this one when it first came out but I am still glad I have watched it now. Your communicating skills are awesome. Thank youx
This was a phenomenal video. My favourite of yours yet. It was important, applicable, clear, relevant, and well produced. Please do more like this 🙏 well done! 🙌
So well done - this has really opened my mind - i don’t think you realise how much your content changes people for the better…or maybe you do?! 😂 Love it.
Loved the topic of this one and congrats on the podcast! Giving to others, whether that's our money or out time is something we could all do more of, myself included!
Damien, mate. I genuinely look to and enjoy watching your videos. They're so helpful. I haven't even finished it yet and I've got a lot from it already.
i think another thing beyond experiences are hobbies, especially ones where you create things e.g music, woodworking, project car. a lot of jobs nowadays place you so far removed from seeing your work bring something to fruition (the most anyone sees are meaningless numbers go up), and that removes any kind of fulfilment from that. whittling down a stick into a knife is something where you see the direct result of your hard work, making the act of creating it a lot more fulfilling. you can also see yourself building on the skill; maybe a year or 2 later you can carve out a whole chest- these are things that are tangible to you, not the profits seen on a spreadsheet of a company you care little for
One of my favourite sayings is that, money can’t buy you happiness but I’d rather cry in a Ferrari. Superb video Damo
Haha great saying
This is the 1st of your videos I’ve come across and Wow! What a powerful message, thank you 🙏🏼
Love this video! Thank you.
Whenever I try to practice gratitude I feel much more content with my life.
Fantastic video Damo! Absolutely love your content and approach, entertaining and informative, as usual. As someone finding investing relatively late in life your channel was a great help. Also having been that workaholic style person and looking forward 100% agree with focusing on the now and experiences with friends and those you love spending time with. Great job as usual 👍🏻
What perfect timing. I really needed this right now.
As always a truly reflective view on life and happiness. I am on a similar journey and with a small mind shift looking at what you have and where you are is amazing. 4 years ago while happy and married with a home we didn't have a garden. Now while my grass is 90% moss it's my moss and I cut it lol. Looking at what you have changes how you look at want you want,do you really need it. We have down scaled our wants and of course this saves you money so it's a win win..... Thanks again and enjoy your journey too....
When I had my first job I splashed out on new tech, new phones etc that was a total waste. I can’t go back in time but what I try and do now is think of money as not to be exchanged for things you want unless you really need a new device like a laptop for work and is absolutely needed. Instead I try and love more a frugal life style and try and use my money to make more money in higher rate interest accounts or invest in stocks like ETFs or invest the money into my own creative business pursuits like making my own films and doing marketing campaigns. I don’t have fancy clothes and new tech anymore but I do feel the mindset is helping me see what is necessary and getting more value out of what I currently have. I buy all my clothes second hand now and have so many that are practically unworn and given away. A lot of wasteful mindset
I love how he gave up on stoping the copyright and just gave in at the end very inspiring
You smashed it with this video Damo. I can’t imagine the hours of research and work that went it to this, but it’s worth it. I specifically loved the hedonic adaptation depiction of a couple weeks at an all inclusive in JA loool
Yes! Haha I couldn’t stop laughing at that clip 🤣
This has really brightened up my day Damien. You are such a talent. Keep up the great work!
Amazing video, extreamly well made :) It resinanted with me, a lot has changed for me over the last two years and I realised I'd been doing a lot of these things, which I guess is in part as to why I'm so much happier!
I've also started to declutter and sell/dontate things that don't make me happy and put money aside for quality items that will give me more long term happiness.
I get way sadder when I think back in nostalgia, just want to go back to those times. In no way do I feel better
The ending was spot on, balance your saving, giving and spending on yourself, on a regular basis has to be good for you overall ... although achieving it isn't always easy!
Your videos are written and presented so well. And GREAT content. Thank you!
Best video yet, and that's saying something. Full of brilliant takeaways that I and a lot of others needed to hear. It's nice to see the meme clips stitched in again. LOLed at the "satisfaction" dub.
What an incredible video! Thank you ever so much for putting this together and the research you did to create this. Gonna share this video to loads of groups. Thank you!!!
I work in a Foodbank and get far more from giving than receiving, one of the best videos on UA-cam,thank you .
Hats of to you mate. I’m new here on this channel, but very pleased with the content. Keep up the good work 👍
Perfect timing for this video. Thanks mate, needed to hear this message today.
I love videos like these. It helps us take a step back & breathe. And actually better understand what and why we are doing things
Hello Damien,
New subscriber here from Canada 🇨🇦 & I’ve just binged a few of your videos. This one in particular prompted me to send a note about your well researched & also thought provoking content. Best wishes to you & have a fantastic weekend. 😊
Best video you’ve done by far 👍🏾… I’ve shared it with all my friends, so good.
Thank you so much for sharing it! Legend
Wise words Damien thanks for the reminder- it’s sometimes too easy to forget that life is far more about experiences and having things to look forward to than just squirrelling money away - great job Damo!
First time seeing any of your videos but gosh the EDITTTTT is top tier. The information is good and man your story telling skills is good. Thanks for good quality
Awesome video, thank you! I've always been told by people with both more and less money than me that more money won't make me happier. I always say "I'll tell you when it stops making me happier then".
I think people just suck at using it to make themselves happier. Great advice on how to do so in this vid.
This is the first time I have ever commented on any UA-cam video and I have watched a lot. Outstanding content and delivery. Well done.
Thank you! Really appreciate you commenting on the delivery and i have been trying to improve this
Love the fact that you're citing papers, it increases your credibility. Thanks for the great video!
Appreciation can only bring happiness when there are things around you that you genuinely can reflect on and be appreciative for. This is just not the case when say a family member dies tragically, or a loved one leaves you or a natural disaster/war displaces you from your home. There’s no space for appreciation other than suffering, grief and depression. And these events can cause a lasting impact on your life for many, many years.
It’s a privilege to be able to look back and see life progress in 12 months, and I’m saying this as someone who’s lived through bucketloads of trauma and is finally seeing improvements in my life.
I've never really liked buying things or spending alot on big holidays alone. I've always preferred smaller more frequent events with friends which is why I make an effort to go out every week and just spend time with people
Best video i have watched lately! Keep up the good work.
Glad you enjoyed it!
Great choice content 2 things stick out / hit home for me
1. Planning travel ahead always lifts spirits 🎉
2. i'm a tight arse except travel 😂but when i do it does feel great .
keep it coming Damo
Great video! I've always chosen to invest in experiences and knowledge more than ''stuff''. Also, in the pursuit of happiness, people forget to count their blessings and appreciate what they have now.
I haven’t watched your channel in quite some time … wow, huge production improvements with the content just as great as before.
Really enjoyed this. Needed to hear it. Thank you.
New to your channel, but wanted to say this was excellent, well crafted, and authentically delivered. Kudos.
Thank you! Also welcome to the channel
Great video bud, highlights that everythign is not just about gain/money, enjoying life and living are a major factor also
I’m glad I found your channel the other day, this video is just perfect🤝
Glad you enjoy it!
Superb video.Definitely made me think about trying to rebalance saving vs. giving and experiences with friends.
Quality research, balance and content. Love your analysis bud - keep it up!
Amazing video! Really got me thinking this one, very insightful, well done 👏
Such an epic video mate, absolutely smashing it. Thank you 🙏🏻
Thanks Dan!
Great stuff, I love how you surprise me with new topic and perspectives. Keep going!!
Really enjoyed that, and makes sense. Thanks for the vid.
This is such a brilliant video and the way you explored this topic is was so well thoughtout. Thank you for this.
This is next level mate. Favourite UA-cam channel. Podcast listener too. Thank you from Devon
Yes Harry! Love this comment mate thank you so much. Our editor on the podcast is based in devon! I do all the editing on this channel so this video is all me haha
Really great video. Always enjoy your videos, best on you tube for sure. Keep it going mate.👍🏼👍🏼
This is one of the best self help videos ive ever watched. Thanks mate, brilliant advice
What an outstanding video Damien … one one the best I’ve ever seen on UA-cam … fantastic subject matter and coming from a genuine lad …. Time for me to book a £70 flight somewhere 😊
This video hit different. 10/10 A* top of the class, sir.
Thanks Damo. a very worthwhile video to watch. By you bringing financial information to the masses and for me personally, have enjoyed all of them. (no not a groupie lol). It has improved my outlook on my financial life so thanks dude.
Thank you!!! Amazing video. More content like this please! ❤
Now that was time well spent,thx Damien.
An amazing video, I will be sharing around for sure! Thank you