{"id":12074,"date":"2017-06-13T03:00:29","date_gmt":"2017-06-12T17:00:29","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=12074"},"modified":"2017-06-13T03:00:29","modified_gmt":"2017-06-12T17:00:29","slug":"how-money-can-make-you-happy-michael-yardney","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/how-money-can-make-you-happy-michael-yardney\/","title":{"rendered":"How money CAN make you happy \u2013 Michael Yardney"},"content":{"rendered":"

I remember growing up and hearing my parents talk about things like \u201cWell, it\u2019s not all about money,\u201d and how filthy money is and \u201cMoney can\u2019t make you happy,\u201d and all that kind of stuff. Rubbish.\u00a0 We will tell you about the five ways money can make you happy.
\nTranscript:<\/strong>
\nKevin:<\/b>\u00a0 I remember growing up and hearing my parents talk about things like \u201cWell, it\u2019s not all about money,\u201d and how filthy money is and \u201cMoney can\u2019t make you happy,\u201d and all that kind of stuff. I guess that\u2019s all about conditioning, and it\u2019s something that we\u2019ve talked about in this show quite a few times, and that is the conditioning from your parents structuring you later in life.
\n\u201cFive Ways That Money Can Make You Happy\u201d is an article that\u2019s been written by\u00a0Michael Yardney<\/a>, who joins me as a guest.
\nGood day, Michael. How are you?
\nMichael:<\/b>\u00a0 Hello, Kevin. And you\u2019re right; we were all told those funny things about money when we were young that makes us have mixed messages about money. I think we all recognize that you need much more than just money to make you truly wealthy. You need health, you need friends, you need spirituality, you need to be able to give back to the community, but a study has recently shown that, in fact, money can make you happier.
\nAnd Kevin, if it doesn\u2019t, then you\u2019re probably not spending it right.
\nKevin:<\/b>\u00a0 That\u2019s the point, isn\u2019t it? It\u2019s not so much having the money; it\u2019s actually how you use the money that\u2019s going to make you happy. Is that fair?
\nMichael:<\/b>\u00a0 Yes, it is, Kevin. That\u2019s right.
\nKevin:<\/b>\u00a0 Let\u2019s have a look at the five ways that money can make you happy, Michael.
\nMichael:<\/b>\u00a0 This study found that the key to making you happy when you spend money is to understand the importance of spending it on things that make you happy as opposed to on things that don\u2019t. Can we go through a couple of those things, please?
\nKevin:<\/b>\u00a0 Yes, please do.
\nMichael:<\/b>\u00a0 The first one was buy more small things. Human psychology means that we tend to adapt so well to the stuff we buy that even making a big material purchase doesn\u2019t always have long-lasting effects, but it also means the difference between buying something really big or making a small one interestingly is minimal and you can get lots of multiple pleasures for the cost of one big one.
\nI found that quite interesting, Kevin. It means you don\u2019t need lots of money to buy one big thing when you can afford smaller things to make you happier and enjoy the journey along the way.
\nKevin:<\/b>\u00a0 Interesting, Michael. In a recent podcast, you and I talked about some of the lessons we can learn from Donald Trump, and I do recall a lot of that was all about how he uses money. He also looks at things like experience, and that was, I think, lesson number two about money making you happy. Is that right?
\nMichael:<\/b>\u00a0 You\u2019re right, Kevin. Research has found that people reported greater happiness when reflecting on an experience rather than buying something physical or material. The reason is that we tend to adapt to physical, material things quickly, so buying a shiny new toy will bring you some happiness in the moment, but after a day or two, sometimes it becomes an everyday item that we use.
\nIn contrast, an experience takes you out of the everyday, and if you do it right, it actually can leave a lasting impression, something that makes you feel good for a long time. Imagine that trip that you did to Auckland skiing or something like that. That leaves a lasting impression, Kevin.
\nKevin:<\/b>\u00a0 Actually, you\u2019d find it very hard to ski in Auckland, I think.
\nMichael:<\/b>\u00a0 I realized that as I said it. It\u2019s Queenstown everyone goes to skiing in New Zealand. You\u2019re right.
\nKevin:<\/b>\u00a0 Sorry to correct you on that one. I couldn\u2019t let that one go by, I\u2019m afraid.
\nMichael, right at the front, we talked about it\u2019s how you use the money. Is spending it on other people one of the ways to make you happy?
\nMichael:<\/b>\u00a0 That\u2019s right. You\u2019re right, Kevin. We\u2019re social beings. We appreciate and enjoy quality relationships and so therefore, spending it on others, on your loved ones, will also make you happy as well as them. That\u2019s a nice way to do it.
\nKevin:<\/b>\u00a0 I know that you love to travel. I love to travel, as well. One of the things that I really enjoy is the planning process. If I\u2019m going to go away on a trip, to know that we\u2019re going to do it in six months\u2019 time, just the excitement of that event coming up is another way that money can make you happy, Michael.
\nMichael:<\/b>\u00a0 Exactly right. It\u2019s actually looking forward to and anticipating something in the future. There have been lots of studies talking about delayed gratification, and it\u2019s clear that those people who know how to delay gratification for the future are successful in all elements of their life.
\nIn other words, they don\u2019t spend all their money today; they know how to save and eventually then maybe buy the investment property or in this context that we\u2019re talking about today, maybe they\u2019ve just saved to be able to have that holiday six months down the track.
\nWe think it\u2019s going to make us happy having satisfaction right now, but in actuality that\u2019s not true, Kevin. We tend to be happier when we\u2019re eagerly awaiting something.
\nKevin:<\/b>\u00a0 And the final point, Michael?
\nMichael:<\/b>\u00a0 Many people have big dreams \u2013 they want to buy a big house or have a big property portfolio \u2013 but if you keep wanting those and forget enjoying your day-to-day little successes, wins, the happy times, you\u2019re going to miss out on the big picture. So, treat it one day at a time.
\nTo be really wealthy, you have to feel grateful for what you have today. If you\u2019re happy and grateful for the things around you \u2013 we\u2019re living in the best country in the world at the best time in history to do that, and we have somebody to love and somebody who loves us \u2013 then you are a very wealthy person already, Kevin.
\nKevin:<\/b>\u00a0 I guess the bottom line, Michael, is that wealth alone is not going to provide you with a guarantee of a good life; what really matters a lot more than a big income is actually how you spend it, how you use that money.
\nMichael:<\/b>\u00a0 Very correct, Kevin. It\u2019s an interesting concept.
\nKevin:<\/b>\u00a0 Wonderful stuff. Michael Yardney<\/a> from Metropole Property Strategists<\/a>. A bit of a different take for you but how you can use money to make you happy.
\nThanks for your time, Michael.
\nMichael:<\/b>\u00a0 My pleasure, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

I remember growing up and hearing my parents talk about things like \u201cWell, it\u2019s not all about money,\u201d and how filthy money is and \u201cMoney can\u2019t make you happy,\u201d and all that kind of stuff. Rubbish.\u00a0 We will tell you about the five ways money…<\/p>\n","protected":false},"author":176692471,"featured_media":12076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,34,10,11,13,36],"tags":[101],"class_list":["post-12074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies-topic","category-finance-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","tag-podcast"],"yoast_head":"\nHow money CAN make you happy \u2013 Michael Yardney - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/how-money-can-make-you-happy-michael-yardney\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How money CAN make you happy \u2013 Michael Yardney - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"I remember growing up and hearing my parents talk about things like \u201cWell, it\u2019s not all about money,\u201d and how filthy money is and \u201cMoney can\u2019t make you happy,\u201d and all that kind of stuff. 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