Can you put a price on happiness?
In 2010, Princeton University research suggested that people’s day-to-day happiness tops out when they make $75,000.
More recent research, however, indicates that there is no dollar value at which having more money doesn’t contribute to well-being. So, money can buy happiness. Especially if you use it well. Because the happiness you derive from money depends completely on what you spend it on.
In this podcast, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. Today’s special guest is Jason Vitug, a former bank executive and financial wellness expert. His forthcoming book, “Happy Money Happy Life,” is due in early 2023.
Remember, even though we sometimes talk about specific investments on this show, don’t take them as recommendations because they’re not. Before investing in anything or making any money moves, do your research and make your own decisions.
You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:
The connection between money and happiness
Believe it or not, there’s a connection between money and happiness. Our guest, Jason, shares some realities behind what it means to be happy—and how it connects to our overall wellness. We also have a number of resources on Money Talks News about money and happiness:
- The Surprising Age When Happiness Peaks
- Money Really Can Buy Happiness — If You Spend It Right
- 11 Ways Money Really Can Buy Happiness
- Think Money Can’t Buy Happiness? Think Again
- Consumption Smoothing: What It Is and Why It Matters for Your Happiness
- 11 Ways Americans Try to Buy Happiness
- The 10 Commandments of Wealth and Happiness
How to be happier with your money
We talk about how you can be happier with your money by taking a few steps to change your approach.
- First, take a step back and consider how you make choices. Our podcast episode on 5 Tips to Make Better Financial Decisions can help.
- Understand your values and priorities. Check out our article on the top priorities many Americans have.
- If you have a partner, you need to be on the same page. We have an article about money conversations you should be having as you budget.
- Before you get too worried about a coming recession, check out our article on how recessions can improve your finances—including helping your evaluate what matters most.
- Hoping to change your life and live the way you want? We’ve got a podcast episode on how you can make the shift and improve your life.
- As you set goals, it’s important to consider other aspects of your life and money. Read our article on how the most important long-term financial goal doesn’t have anything to do with money.
Meet this week’s guest, Jason Vitug
Jason Vitug is an award-winning creator, author, speaker, entrepreneur and producer. He is the founder of the personal finance website phroogal.com, creator of the Road to Financial Wellness and champion of #theSmileLifestyle, a community devoted to experiential and purposeful living.
Jason is the author of the bestselling and New York Times-reviewed book “You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life.” His TEDx about breaking the money taboo is one of the most-viewed talks on money.
In his previous life, Jason was a nationally recognized credit union executive championing financial wellness. He currently works with Fortune 500 companies, credit unions, community banks and fintech startups on wellness initiatives.
Jason received his bachelor’s at Rutgers University and MBA at Norwich University. He’s an avid traveler, having been in all U.S. states, explored 45 countries and stepped foot on five continents. He is also a certified yoga teacher and breathwork specialist.
Don’t listen to podcasts?
A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They’re awesome for learning stuff and being entertained when you’re in the car, doing chores, jogging or riding your bicycle.
If you haven’t listened to our podcast yet, give it a try, then subscribe. You’ll be glad you did!
About the hosts
Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.