1 00:00:03,440 --> 00:00:06,720 Speaker 1: Welcome to Before Breakfast, a production of I Heart Radio. 2 00:00:09,440 --> 00:00:14,960 Speaker 1: Good Morning, This is Laura. Welcome to the Before Breakfast podcast. 3 00:00:15,800 --> 00:00:20,160 Speaker 1: Today's tip is to consider how any expense will affect 4 00:00:20,520 --> 00:00:24,520 Speaker 1: how you spend your time. This tip comes from Elizabeth 5 00:00:24,560 --> 00:00:28,159 Speaker 1: Dunn and Michael Norton's book Happy Money, The Science of 6 00:00:28,200 --> 00:00:31,880 Speaker 1: Happier Spending. Donne and Norton are perhaps best known for 7 00:00:31,920 --> 00:00:35,760 Speaker 1: their recommendation that buying experiences often contributes more to our 8 00:00:35,800 --> 00:00:39,960 Speaker 1: happiness than buying stuff. Their book has lots of advice 9 00:00:40,000 --> 00:00:42,720 Speaker 1: on how to spend money in ways that boost our happiness. 10 00:00:43,479 --> 00:00:46,040 Speaker 1: We'll explore a handful of them in episodes this week. 11 00:00:47,440 --> 00:00:51,480 Speaker 1: Today's tip is this before spending money. Done and Norton 12 00:00:51,520 --> 00:00:54,800 Speaker 1: advise asking yourself, how will this purchase change the way 13 00:00:54,960 --> 00:00:58,560 Speaker 1: I use my time? Generally speaking, we want to have 14 00:00:58,720 --> 00:01:04,920 Speaker 1: more enjoyable experiences and fewer unpleasant ones. We want more 15 00:01:04,959 --> 00:01:08,520 Speaker 1: time having brunch with friends and less time cleaning toilets. 16 00:01:09,720 --> 00:01:13,280 Speaker 1: Done in Norton right, time and money are frequently interchangeable, 17 00:01:14,200 --> 00:01:16,520 Speaker 1: so one way to spend money well is to buy 18 00:01:16,600 --> 00:01:20,199 Speaker 1: back time from unpleasant experiences so we can do more 19 00:01:20,360 --> 00:01:23,399 Speaker 1: of what we want. This could mean springing for the 20 00:01:23,480 --> 00:01:26,520 Speaker 1: more expensive plane ticket to buy yourself more time on 21 00:01:26,560 --> 00:01:30,880 Speaker 1: the beach and less time in the airport. It could 22 00:01:30,959 --> 00:01:33,399 Speaker 1: mean paying for grocery delivery so you don't spend your 23 00:01:33,440 --> 00:01:37,720 Speaker 1: Saturday at a crowded grocery store. Take a minute to 24 00:01:37,720 --> 00:01:41,160 Speaker 1: think about the unpleasant experiences you have in a typical week. 25 00:01:42,240 --> 00:01:46,160 Speaker 1: Which of them could be changed. Whether it's getting a 26 00:01:46,319 --> 00:01:49,680 Speaker 1: room ba because you hate vacuuming, or maybe even hiring 27 00:01:49,680 --> 00:01:52,040 Speaker 1: a sitter so you can skip the bedtime battles twice 28 00:01:52,080 --> 00:01:55,240 Speaker 1: a week, These purchases can change the way we use 29 00:01:55,360 --> 00:02:00,160 Speaker 1: time in a way that boosts happiness. We can ask 30 00:02:00,280 --> 00:02:04,600 Speaker 1: this question when purchasing tangible items too. Done and Norton 31 00:02:04,680 --> 00:02:07,760 Speaker 1: offer the example of mattresses. You're going to spend your 32 00:02:07,800 --> 00:02:09,959 Speaker 1: time the same way no matter what mattress you buy. 33 00:02:10,080 --> 00:02:13,080 Speaker 1: That is, you will be sleeping, So they say, don't 34 00:02:13,120 --> 00:02:16,320 Speaker 1: be too influenced by things like price. Well, I guess 35 00:02:16,400 --> 00:02:21,519 Speaker 1: unless a mastress hurts your back, that would be buying misery. Now, 36 00:02:21,560 --> 00:02:23,600 Speaker 1: of course, we're not always accurate and how we think 37 00:02:23,639 --> 00:02:27,040 Speaker 1: spending money will affect our time. Done and Norton advised 38 00:02:27,080 --> 00:02:30,280 Speaker 1: caution about purchases that you imagine will add happy meaningful 39 00:02:30,320 --> 00:02:33,320 Speaker 1: experiences to your life, but that come with extra chores 40 00:02:33,960 --> 00:02:36,320 Speaker 1: or that the typical user doesn't really use all that much. 41 00:02:37,280 --> 00:02:40,240 Speaker 1: For example, you might imagine a backyard pool is a 42 00:02:40,280 --> 00:02:44,240 Speaker 1: fun filled gathering place for people you love spending time with, 43 00:02:44,240 --> 00:02:48,400 Speaker 1: without considering the added chores that a pool brings. Or 44 00:02:48,480 --> 00:02:51,280 Speaker 1: you might imagine a big screen TV is bringing together 45 00:02:51,320 --> 00:02:53,040 Speaker 1: all your buddies to watch the game and have a 46 00:02:53,040 --> 00:02:56,520 Speaker 1: great time together, without really thinking that you'll end up 47 00:02:56,560 --> 00:03:00,800 Speaker 1: watching the screen alone much more often than you'll throwing parties. 48 00:03:02,280 --> 00:03:04,480 Speaker 1: I can think of plenty of purchases though, that will 49 00:03:04,600 --> 00:03:07,960 Speaker 1: change how you spend your time without adding chores. A 50 00:03:08,040 --> 00:03:11,200 Speaker 1: patio heater, for instance, will allow you to sit outdoors 51 00:03:11,240 --> 00:03:15,360 Speaker 1: comfortably longer into cold weather. All you really need to 52 00:03:15,360 --> 00:03:19,880 Speaker 1: do is turn it on. The happiness payoff is more clear, 53 00:03:21,400 --> 00:03:23,960 Speaker 1: so as you consider spending money on yourself or your 54 00:03:23,960 --> 00:03:28,040 Speaker 1: loved ones, ask yourself done in Norton's question, how will 55 00:03:28,080 --> 00:03:32,520 Speaker 1: this purchase change the use of time? Aim for spending 56 00:03:32,520 --> 00:03:38,000 Speaker 1: our purchases that increase happy, meaningful time and decrease unpleasant 57 00:03:38,160 --> 00:03:42,800 Speaker 1: or insignificant uses of time. Happy money has done in Norton, 58 00:03:42,880 --> 00:03:46,240 Speaker 1: call it and happy people are what we're aiming for 59 00:03:47,800 --> 00:03:51,960 Speaker 1: In the meantime, this is Laura. Thanks for listening and 60 00:03:52,000 --> 00:04:00,760 Speaker 1: here's to making the most of our time. Hey, everybody, 61 00:04:00,960 --> 00:04:03,080 Speaker 1: I'd love to hear from you. You can send me 62 00:04:03,120 --> 00:04:06,760 Speaker 1: your tips, your questions, or anything else. Just connect with 63 00:04:06,800 --> 00:04:11,200 Speaker 1: me on Twitter, Facebook and Instagram at Before Breakfast Pod. 64 00:04:11,880 --> 00:04:16,240 Speaker 1: That's b E the number four, then Breakfast p o D. 65 00:04:17,080 --> 00:04:19,920 Speaker 1: You can also shoot me an email at Before Breakfast 66 00:04:20,000 --> 00:04:23,400 Speaker 1: podcast at i heeart media dot com that Before Breakfast 67 00:04:23,520 --> 00:04:26,159 Speaker 1: is spelled out with all the letters. Thanks so much, 68 00:04:26,240 --> 00:04:34,400 Speaker 1: I look forward to staying in touch. Before Breakfast is 69 00:04:34,400 --> 00:04:37,640 Speaker 1: a production of I Heart Radio. For more podcasts from 70 00:04:37,640 --> 00:04:41,680 Speaker 1: I heart Radio, visit the I heart Radio app, Apple Podcasts, 71 00:04:41,920 --> 00:04:43,800 Speaker 1: or wherever you listen to your favorite shows.