FPA Connect: Budgeting for Happiness

Our clients (and we) don’t do a good job of spending money in a way that increases quality of life. This interactive webinar highlights a simple, practical, and empirically-supported method to budget for happiness. According to this “hedonic budgeting” method, expenses can be divided into four categories based on whether they are variable or fixed and correspond to wants or needs. Then, spending can be proactively reduced in categories that don’t predict happiness… and increased in categories that do. Holistically, this approach often reduces overall spending while increasing quality of life.