By Sabine Lay
Charles Dickens wrote A Christmas Carol in 1843. Most people know the story of Ebenezer Scrooge, a miserly man who transforms his life after three spirits teach him the joy of giving. It seems Dickens was way ahead of the research on money and happiness.
Dr. Elizabeth Dunn, an associate professor of psychology at University of British Columbia, and Michael Norton, an associate professor of business administration at Harvard Business School, wrote an article in which their research shows that “people with a comfortable living standard are happier than people living in poverty.” No surprise. But once people reach a “comfortable standard” of income, which falls somewhere around $75,000 a year in the United States, additional income doesn’t create additional happiness. Continue reading
You are standing in the check out line at the grocery store dreading the nagging you are sure to get from the kids about buying another pack of gum. All the stuff at the check out line is a total temptation for the kids, and a total irritation for you. Sounds like it is time to start giving your children an allowance so they can start spending their own money.
For older Canadians, with a paid or almost paid mortgage, ever increasing home values feels like watching winning numbers come up in the lottery. But how best to cash in the ticket? Or should it even be cashed in at all? The answer of course, depends on individual circumstances.
You did all the right things. You went to school and earned a good education. You’ve worked hard and been promoted. You earn upwards of $100,000 a year; yet increasing debt has your stomach in knots.
