Can You Buy Happiness? Depends on What You’re Buying
| January 27, 2012 |
"Retail therapy" can offer an instant mood boost. A new outfit, new furniture, a new TV — with the swipe of a credit card, you’ve just bought yourself a quick injection of optimism at the end of a rough week.
But will it bring you long-lasting happiness? A study published this week in the Journal of Positive Psychology tackled that very question. It found that, while hitting the mall won’t make you happier in the long run, you can, in fact, buy happiness — you just have to buy the right things.
Researchers at San Francisco State University found that those who spent money on experiences, rather than on material possessions, were able to reap lasting happiness from their purchases. So, instead of filling your closets and shelves, you’re better off getting concert tickets, taking dance lessons or splurging for a weekend getaway.
The researchers also looked at who was more likely to buy experiences. They found that study participants who were more extroverted and those who described themselves as "open to new experiences" were more likely to spend their money on adventures than on shopping sprees. This was no surprise, according to the researchers, because, when you buy an experience instead of a new pair of shoes, you have to be willing to do without the safety net of a refund.
With that in mind, here are some of the best personal finance posts from the last week that tackle the topic of saving for what really matters:
Financial Samurai examines why it’s tough to justify quitting a well-paying job and living a life of leisure, even if you can afford to.
SavingAdvice recommends buying a few quality items rather than a lot of cheap ones when shopping for clothing.
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