I recently came across the works of Scott Galloway. Scott Galloway is a clinical professor of marketing at the New York University Stern School of Business, and a public speaker, author, and entrepreneur.
I love his Youtube channel and particularly loved his video on the ‘Algebra of Happiness’. He also has a book of the same name.
Here are 12 equations from the video:
1. The arc of happiness
2. Sweating Vs Watching
Stop watching others do and pick up that unfinished pet project!
3. Work, Partner, and Friends
A happy life is a product of work and friends but selecting the right partner contributes much more.
4. How to choose the right partner?
According to Scott, to choose the right partner, both of you should be physically attracted to each other, agree on the same values (like religion, number of kids) and have the same philosophy towards money.
5. How to earn money
Get credentials and get to a city!
6. Money and happiness
Money can buy happiness, up to a point. After that, the law of diminishing marginal utility kicks in.
Probably the most important equation ever.
8. Wealth = Equity
Monthly salary will not get you to wealth. True wealth is built using passive income. You are wealthy if your passive income is more than your expenses/burn.
Take note of your substance abuses. It has a direct correlation with your mental and physical health.
10. Things < Experiences
Don’t buy that sports car, take your family on a vacation instead!
12. Nothing is as good or as bad as it seems
Market dynamics always trumps individual performance. Your success and your failure are not just because of you and your actions, there are so many other factors involved, so maximize every opportunity of happiness.
I highly recommend watching the whole video and come back to it every few months. There is a lot of wisdom in those 10 minutes.