Money can actually make us happy
Money may not be able to buy happiness… but it certainly can help us get it! The key is in how we use money and…
Can money buy happiness? Actually, some material goods can make you happy.(Shutterstock)
Money may not be able to buy happiness… but it certainly can help us get it! The key is in how we use money and how we choose to spend it.
Ryan Howell and Darwin Guevarra, professors of psychology at San Francisco State University, are experts in studying the relationship between happiness and consumption. According to their latest research, published in Journal of Consumer Psychology, when we buy “experiences” rather than objects we feel happy, vital and connected with others.
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So when use our money to gift ourselves or someone else, experts recommend buying those products or objects that allow us to enjoy our hobbies or develop new skills and knowledge, rather than simply material possessions. Of course, for a gift to be truly enjoyed, it’s essential to think about the person who will receive it and consider their tastes and desires.
Purchases that bring happiness
Do you want to hit the mark with your gift? Here are several ideas that will definitely bring happiness to the recipient (whether its you or someone you love):
Books, musical instruments and other ‘experiential products’ provide same happiness boost as life experiences. (Shutterstock)
- A great book. Choose a work of fiction if they like literature or nonfiction on their favorite hobby or pastime.
- Sports equipment (if you know that theyll use it).
- Musical instruments, especially if you know theyve always wanted to learn.
- Experiences (kayaking, massages, stays in rural hotels).
- Paying the registration for a course of particular interest.
- Dinner at a special restaurant.
- Tickets for a concert or sporting event.
- A subscription to their favorite magazine.
- Needless to say, it’s not necessary to choose a very expensive or sophisticated gift. Just focus on dedicating some of your love and attention to the other person (or to yourself!). This way, you will feel much happier than if you had purchased a random t-shirt at the mall or ran for a last-minute bouquet of flowers at the gas station.
The pleasure of buying “life experiences”
“This is good news for materialists,” says Howell in a summary of the study. “If your goal is to be happy but you are a person who likes to buy things, then you should buy those goods that will awaken your senses. You’ll be as happy as if you’ll buy a life experience, because in a sense this product will offer it.”
When Howell and Guevara asked participants in their study who had experienced good feelings by buying what they call “experiential products,” they found that these goods or objects actually provided the same level of happiness that the experiences offered themselves.
In other words, if your best friends enjoy painting, but they haven’t done it in a long time, if you give them a set of oil paints and a canvas, your gift will wake up the sleeping creativity and pleasure that they feel when devoted to painting.
The psychology of happiness
But, how can an object or experience make us truly happy? The researchers explain that for a purchase to produce true happiness it has to satisfy three psychological needs:
- Expression of identity: the purchase reflects the true values of consumers.
- Creating Competence: buying allows consumers to discover or enhance skills and knowledge.
- Social Connection: shopping allows consumers to approach others.
Buying or giving an object that helps us develop our passions and relate to other people gives us true satisfaction, explains Howell. “If you do not feel very competent, the best way to alleviate this deprivation is through the use of experiential products. On the other hand, if you feel alone, you should buy life experiences and do things with others.
The ideal product to encourage happiness is one that simultaneously meets both needs. For example, a board game or a karaoke machine to use just for fun with family or friends.
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