Money can buy happiness - but only if you spend it wisely, say scientists
Money may be able to buy happiness after all – but only if you choose to spend it on the right things.
Psychologists have found that people who spend their money on simple experiences such as going to the theatre, dining out or taking adventure holidays tend to be happier with their purchases than those who buy material possessions, regardless of how much they spend.
“We don’t tend to get bored of happy memories like we do with a material object,” said Professor Ryan Howell, a psychologist at San Francisco State University who conducted the study.
“In life experiences, the only thing left afterwards is a memory of the event, but this tended to give people a greater sense of vitality and of being alive, which is satisfying the higher psychological needs that humans have. Material items did not do that to nearly the same extent.
“It is an extension of basic need theory, where purchases that satisfy psychological needs produce the greatest wellbeing. It shows that if you use money in the right way it can make you happy.”
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February 17th, 2009 at 5:24 pm