can money make you happy?

an open book journey podcast conversation with Dr. Elizabeth Dunn

For a long time now, money has been equated to happiness… but this is relationship is not as straightforward as it may seem. What we do know is that money does make people happy, but only to a certain point.

So where do we draw that line in the sand? When does money stop bringing us happiness, and become a drive that just doesn’t satisfy us in the ways we’re seeking?

“Just because people exhibit some form of behavior like seeking more money, it doesn’t mean that that’s actually a productive strategy for increasing their own happiness.”

-Elizabeth Dunn

As Dr. Dunn tells us, there really is a relationship between money and happiness - “as people make more money, they get happier, and that relationship is particularly steep early on as people are going from not having much money perhaps to making a middle income, to making a bit more, and then it levels off later.”

What can be difficult is learning that this relationship between money and happiness does taper off as we start to earn more. “Once you’re making well above the median income, additional increases in income aren’t likely to have much of an impact on your wellbeing,” says Dr. Dunn.

Please join us as we explore these concepts, questions, and more with Dr. Elizabeth Dunn, professor in the Department of Psychology at the University of British Columbia. Dr. Dunn conducts experimental research examining how time, money, and technology shape human happiness, and is the co-author of Happy Money: The Science of Happier Spending with Dr. Michael Norton.

You can listen to this episode of the open book journey, Our Connection with Money as a "Happy” Currency by clicking play below, or by searching for the open book journey wherever you get your podcasts. Don’t forget to subscribe so you can follow along as we uncover the immense wisdom contained within books that discuss the science that lies behind happiness!

Thank you for joining us, and remember…happiness lives here.™ Welcome home.