Another paper from Harvard happiness expert Daniel Gilbert (author of the bestseller Stumbling on Happiness) spells out 8 ways we can spend our money to increase happiness:
1) “Buy more experiences and fewer material goods.”
This means more amusement parks and vacations. Fewer cars and new TV’s:
Asked which of the two purchases made them happier, fully 57% of respondents reported that they had derived greater happiness from their experiential purchase, while only 34% reported greater happiness from their material purchase. Source: “If Money Doesn’t Make You Happy Then You Probably Aren’t Spending It Right” from Journal of Consumer Psychology
Why? We quickly take material goods for granted. Research shows this happens more slowly with experiences. Also, we anticipate and remember experiences more, savoring them for longer and squeezing more enjoyment from them.
2) “Use their money to benefit others rather than themselves”
Yup, giving is better than receiving:
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