When it comes to buying happiness, spend your money carefully.
What makes you really happy? Studies (like those conducted by happiness researchers Elizabeth Dunn and Michael Norton, of the Harvard Business School) repeatedly conclude experiences rather than things make people happy.
I look around my room at pictures I have bought. Almost all of them - for example, an artistic photo of an elephant walking in the misty wetlands of Botswana's Okavango Delta - recall happy and memorable experiences (like my Africa trip earlier this year).
My eight-year-old Subaru Forester turbo makes me happy because I enjoy driving it. My flatscreen TV makes me happy because I enjoy watching shows on it. My apartment makes me happy because it has a great view of and gives me instant access to the beach. The special shirt my daughter-in-law Irene gave me brings happiness when people say how good it looks every time I wear it.
And then there are the pure experiences: a meal out with friends, a memorable trip, going to a movie, riding in a limo for a special occasion. Even the pleasure of owning a fancy bike can qualify as a happy experience, as much as riding the bike.
How does your consumer spending measure up on the happiness scale? Congratulations if you do indeed buy things which produce experiences that make you happy. Become more aware of this fact; appreciate - and be grateful for - what you have to increase your happiness further.
Also remember the common fallacies about money: "We deserve to have a certain amount of money" (which means we'll always be unhappy if we have less). "Having money is the ultimate goal" (no, it's only a means to an end). "We'll be happy once we achieve our financial goals" (how about simply enjoying the progress we make toward our goals?).
"More money doesn't mean more happiness," says Doug Vermeeren, motivational speaker and life coach. "It's our attitude toward money, not the amount, that influences our happiness the most."
Mike Grenby is a columnist and independent personal financial advisor; he'll answer questions in this column as space allows but cannot reply personally. [email protected]
