(Mostly) Can’t Buy Me Happiness

Experiences count:

We usually think of having more money as allowing us to buy more and more of the stuff we like for ourselves, from bigger houses to fancier cars to better wine to more finely pixilated televisions. But these typical spending tendencies — buying more, and buying for ourselves — are ineffective at turning money into happiness. A decade of research has demonstrated that if you insist on spending money on yourself, you should shift from buying stuff TVs and cars to experiences trips and special evenings out. Our own recent research shows that in addition to buying more experiences, you’re better served in many cases by simply buying less — and buying for others.

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