Proof that Money Can Buy Happiness!
Research suggests that money can make us happy if we spend it on the
right things. It seems that buying life experiences, such as dinner out or theatre tickets, rather than material possessions like the latest designer handbag, leads to greater happiness for both the buyer and those around them.
Why? Because purchasing experiences, as opposed to things, boosts feelings of well-being and vitality as well as social connectedness. The results also showed that purchasing experiences produced happier people regardless of the amount spent or the income of the purchaser.
Experiences also lead to longer-term satisfaction. “Purchased experiences provide memory capital,” noted Ryan Howell, an assistant professor of psychology at San Francisco State University. “We don’t tend to get bored
of happy memories like we do with a material object.”
So replace the happy memories of your favourite handbag with happy memories of experiences with your loved ones.
As an interesting aside, one of my colleagues at Thorpe Benefits Health & Wellness, Louisa Jewell, says that studies show that having a short commute makes us happier longer than purchasing material possessions like a new TV.