Money can buy you happiness, if you know how to spend it wisely. There is an insightful story in the New York Times today, about how accumulating things does not lead to happiness. In fact, it often leaves people feeling empty. A key quote from the article:
“Intuitively, we know that the best stuff in life isn’t stuff at all, and that relationships, experiences and meaningful work are the staples of a happy life.”
New research affirms the idea that buying possessions does not increase one’s overall sense of happiness. The relationship being spending money and happiness is quite clear. Spending money to buy material objects does not make people happy. Although it might create a short-term rush of excitement, it does not make a person happy in the long run. Spending money on experiences that are not shared with others does not make people happier either.
So, what is the best way to buy happiness? Spending money on shared experiences with loved ones greatly increases people’s feelings of satisfaction.
The moral of the story – spend your money doing things with the people you love. Doing so, will add meaning to your life. Happiness involves sharing experiences with others, not purchasing things for yourself.