Several people who know me have asked "what in the world do you spend all your money on?" I am thrifty by nature and make more money than I need. Yet I do spend a lot. Other than paying taxes (the biggest expense I have) I spend money on things that bring me and my family more happiness. I love mnemonics and made a couple for this. Money can buy happiness if you spend on the right things. Based on my review of the literature I came up with these categories:
HEATS (Health, Education, Assets, Travel, Security) &
POETT (Pre-payments, Others, Experiences, Treats, Time savers).
These are evidence-based but also skewed to our values. For example privacy/security is not a high value for everyone but it is for me.
Thoughts on money well spent? Can money buy happiness? More on this if desired: http://wealthydoc.com/blog/how-in-the-world-do-you-spend-all-that-money-every-year
HEATS (Health, Education, Assets, Travel, Security) &
POETT (Pre-payments, Others, Experiences, Treats, Time savers).
These are evidence-based but also skewed to our values. For example privacy/security is not a high value for everyone but it is for me.
Thoughts on money well spent? Can money buy happiness? More on this if desired: http://wealthydoc.com/blog/how-in-the-world-do-you-spend-all-that-money-every-year
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