Chris Budd: How delaying consumption can improve wellbeing

In his latest column for Professional Adviser, Chris Budd discusses how delaying consumption can help improve wellbeing… One of the more well-known aspects of financial wellbeing is that experiences give greater, and longer lasting, wellbeing than buying stuff. Retail therapy is a myth. Happy Money (by Elizabeth Dunn and Michael Norton) develops this argument by explaining that there is wellbeing to be had from anticipation. How can financial advisers and planners use this knowledge to increase the wellbeing of their clients? Expectation and Wellbeing If holidays create memorie...