Thursday, February 17, 2011
Money Buys Happiness
A previous post noted that spending on others generates happiness. Another study finds that money spent on experiences made people happier than buying things if those experiences are enjoyable and enhance the individual's life in non-material ways.
In the study, half of the participants wrote a paragraph about a recent experience they purchased (e.g. dining out or going to the movies). The other half wrote a paragraph about something they bought. Both groups wrote down their feelings about what they purchased. Those who bought experiences were significantly happier and said it was money well-spent.
These feelings might come from feeling connected to friends. Also we don’t get tired of happy memories, but we can get tired of a purchase.