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Chasing Life

Does Money Buy Happiness?

Chasing Life

CNN

Nutrition, Health & Fitness, Mental Health

4.47.8K Ratings

🗓️ 23 July 2024

⏱️ 30 minutes

🧾️ Download transcript

Summary

We’ve all heard the phrase, “money doesn’t buy happiness.” But, Elizabeth Dunn, a professor in the Department of Psychology at the University of British Columbia, says that isn’t necessarily true. She sits down with Dr. Sanjay Gupta, CNN’s Chief Medical Correspondent, to talk about her research into getting the “biggest happiness bang for our bucks,” and lessons from her book, “Happy Money: The Science of Happier Spending.” Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

It's an age-old question.

0:03.0

Can money buy happiness?

0:05.0

The sad cynical answer is I think the older I'm getting,

0:09.0

the more happiness money does buy with family children cost of living.

0:16.0

Absolutely not. It does not buy happiness because we see it all the time the richest people are sad they're depressed

0:24.4

But it definitely can help it be crazy to say that like having the money to like buy a nice dinner doesn't like make you feel good or something like that

0:31.0

No, I do not think money buys. Every day you get up you can either

0:34.8

choose to be happy or choose to be sad whether you have money or not. I don't have a lot of money, but I'm happy

0:41.3

99% of the time.

0:44.0

The truth is our relationship to money can have a real impact on our happiness.

0:48.5

As the cost of living rises, foreign 10 Americans say personal finances are a major source of stress.

0:55.0

That's according to a 2023 poll from the Associated Press and the University of Chicago.

1:00.4

And yet, here's the thing.

1:02.2

At the same time, just talking about money can be taboo.

1:06.6

But should it be?

1:08.4

Just ask Elizabeth Dunn. She's an expert in the science behind money and happiness and a psychology professor at the University of British Columbia.

1:16.0

She co-wrote happy money, the science of happier spending,

1:21.0

and she spends a lot of her time debunking money myths.

1:24.0

This notion that money cannot buy happiness is just like patently false.

1:28.0

On today's show, I'm going to ask her for steps we can all take to spend smarter and be happier no matter how much money you make.

1:37.0

I'm Dr. Sanjay Gupta, CNN's chief medical correspondent, and this is chasing life.

1:46.0

How are you?

...

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