Chris Budd: Four theories of happiness and wellbeing

Financial wellbeing is the study and application of how financial planning can make us happier, not just wealthier. There are many theories as to what makes us happy. In this column I will take a look at each of them so that we can consider if they can be applied to your and your clients' lives. It might just be that we recognise ourselves and our own bad habits - part of the ‘Know Thyself' principle that runs through my Financial Wellbeing Book and podcasts. Set point theory The first theory says we have a set level of happiness. Events might move us away from this set point, but ...