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[The following is a partial transcript of this episode of The Scott Alan Turner Show. Listen to the full episode to hear this story, listener questions, money hacks, and inspiring stories of people that are changing their financial lives. Subscribe to the free podcast on iTunes or Google Play]
In the book Happy Money: The Science of Smarter Spending, Harvard’s Elizabeth Dunn and Michael Norton studied and found:
While having more money can provide all kinds of wonderful things – from tastier food to safer neighborhoods – its real power comes not in the amount but how we spend it.
In the last show I talked about the power of saving and compounding to be able to spend more later. A lot more. If you missed that go check it out. That revelation will help you think about skipping a few times eating out now so you can experience the World’s Greatest Restaurants in the future.
As the studies show, it’s not just about having more to spend. I love me some stuff, and I know you do too. It’s thinking about what will make you happy. Some stuff, yes. Security, yes. That’s not really happiness, but I believe it’s peace of mind. Experiences, absolutely. The feeling of adventure as you eat a fried cricket or take a trip to the edge of space for $200,000 whenever that becomes a reality.
But guess what one the greatest things you can do right now to be happier?
Giving. Greater satisfaction come from giving, than spending. Think back to some of the awesome gifts you’ve given that were really appreciated. Now compare that to gifts you’ve received. Which is better? The giving, right?
If someone isn’t giving, they aren’t living.
There are three types of giving you’ve heard of:
- Time – volunteering
- Talent – skills
- Treasures – money
Getting on this path to debt freedom opens up the door to giving, which means it opens up the door to ultimate happiness. People can’t be stingy and be happy. Doesn’t work.
Life is much happier when lived with an open hand instead of a clenched fist.
It’s not just money either. You already know there are people in situations right now where they are just getting by, they might not be financially able to give. It could be your situation or you’ve been there before, probably, right?
There is a fourth too. Tribute.
You won’t believe this, because I haven’t made it to the cover of GQ yet. Katie and I were out on a date before Christmas, going through the mall to one of the new restaurants.
I guy walks by me and says ‘Hey man, I like your style’.
He was the one who had some style. I responded Thanks!
Then as we passed him I started looking around to make sure he was talking to me. As you all know, I am not known for my fashion sense. Handsome good looks and giant biceps yes, but not fashion. Oh wait, that’s Thor I’m thinking of.
That was a month ago, and I still think about it. It makes me so happy, to know somebody thought I knew how to dress.
Yesterday morning I was meeting some people for breakfast. Across the table from me was a guy who was impeccably dressed. He could have been on the cover of GQ. So I gathered up my courage to speak to a complete stranger and as we were leaving said
hey man, I just wanted to say I like your style, you look sharp.
There was no cost, no time, it didn’t matter if I was rich or poor. It was 5 seconds of words. And it made me so happy.
A 4-hour countdown has just started. Make this happen in your own life. Give someone a tribute, and enjoy that feeling of giving.
The reasons that saying exists ‘it’s better to give than to receive’ is because it IS better to give than to receive.
- you’ll be happier
- you’ll experience more joy
- you’ll be on cloud nine for days, weeks, or months
Here’s a few ideas:
- Send a text
- An email
- Is there a person next to you that deserves a compliment
When we travel or eat out, my wife always compliments those parents that have the quiet, well behaved kids on the airplane or in the restaurant. Because we’ve been there, and know what a challenge it is to have small children that love testing out their voices at obscene volumes. Compliment those parents today. They are working very hard to make sure other people they don’t even know have a good time.
Just imagine the smile you can put on someones face – and yours – today by giving a tribute. Try it out. Try it out and tell us about it.
And if you just want to write in and tell me what a snazzy dresser I am or call me Thor, you can do that too.
How To Get Started Investing
The international bestseller by CERTIFIED FINANCIAL PLANNER™ Scott Alan Turner. Choose the right accounts & investments so your money grows for you – automatically. No jargon, confusion, or pie in the sky promises. Just a proven plan that works.