April 09, 2015
Great Advice from Mother Nature Network! Research shows that money can buy happiness, but how you spend it matters.
What would bring you greater, longer-lasting happiness
: purchasing an expensive item you've been eyeing — a bigger TV, a new couch, the latest smartphone — or booking that vacation you've been dreaming about?
Thomas Gilovich, a psychology professor at Cornell University, has been studying the relationship between money and happiness for more than 20 years and has concluded that spending money on experiences — travel, outdoor activities, concerts, classes, movies — brings us more joy than buying material things. Shared experiences
are also looked upon more favorably because they connect us to others more than shared consumption does. We feel more connected to people who have also backpacked through Europe than people who happen to have purchased the same iPhone. But it isn't just how we evaluate past experiences that brings us pleasure; even simply anticipating future ones is more enjoyable than anticipating the purchase of a material object.
In addition to making people happier, spending money on experiential purchases also makes people more generous and more likely to participate in social activities.
Read more at: Mother Nature Network