Welcome to The MapleMoney Show, the podcast that helps Canadians improve their personal finances to create lasting financial freedom. I’m your host, Tom Drake, the founder of MapleMoney, where I’ve been writing about all things related to personal finance since 2009.
You’ve heard the saying, “money can’t buy happiness”. Is it really true? This week, my guest Melissa Leong breaks down the relationship between money and happiness. Melissa is the finance expert on The Social, on CTV, and author of the new book, Happy Go Money.
She explains why we love buying things, and whether it’s possible to flip that thrill away from shopping, towards saving and debt repayment. We discuss how dealing with pain and stress in life can impact our ability to make long term financial decisions.
Are the wealthiest people you know, the happiest? Maybe not. Melissa shares how research points towards there being an optimal income as it relates to our level of happiness. As our incomes move higher, our happiness can actually decrease.
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- Looking at the relationship between money and happiness.
- How your income level impacts your overall happiness.
- How can you use money to buy happiness?
- What is hedonic adaptation, and how does it make us feel?
- The effects of shopping on your brain.
- For some, shopping is simply an attempt to mitigate emotional pain.
- Melissa weighs in on the time vs. money argument.
- Excessive levels of debt will steal your happiness.