Can money buy happiness?

In this week's show, Doug and his son, Efraim, discuss spending habits, and if people generally make good choices.

Imagine hearing a financial planner tell you that it's important to spend the money that you have in order to make you happy. Remember the famous dilemma: should you buy a cup of coffee every day, or should you save those few dollars and invest them so you can buy something bigger in the future? What will make you happier?

People who have more money, aren't necessarily happier than people who earn less. What should you buy to make you happy? Although having an iPhone is nice to have, what studies have shown is that when you donate money and help others, you feel better and more fulfilled.

Outsourcing, buying time and delegating tasks is another way to use your money wisely. Have you ever considered spending your money to free up your time so you have more time to do what you like to do?

It's important to remember that money isn't the main goal, it's one of many tools that you can use in order to make you happy.

As the Jewish saying goes "Who is rich? The one who is happy with what he has."

Click here to get Doug's e-book "The Constant Happiness Gratitude Journal"…it might just make you happier.

Efraim is a business student, former IDF officer, and an entrepreneur, creator of "A Day with an Officer." Contact him at: [email protected]