Research Shows The Happiest People Usually Spend Their Money On 3 Things
Luis Molinero | Shutterstock There are all types of spenders in this world, with some buying whatever they want and others who are much more frugal.
Spending money can buy you happiness, but it all depends on how and where that money goes. But as research has found, truly happy people spend on things we may not always expect.
Truly happy people spend their money on these things
1. Experiences they can remember forever instead of material possessions
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Happy people aren't going to spend their money on material possessions like expensive cars or overpriced jewelry. They don't equate a price tag to fulfillment.
Some may overindulge and buy material possessions to fill some kind of void. But in the end, that doesn't make them happy. In fact, according to marketing professor and researcher James A. Roberts, it does the exact opposite.
"For a consumer who has fully embraced shiny objects, possessions take center stage and are considered to be the primary source of all happiness. Money and material possessions are seen as an end in themselves rather than as a means to an end," he said.
While people seek happiness by wanting more, as Roberts explained, "Those of us who live materialistic lifestyles are less happy with our lives than less materialistic people are."
Instead, a truly happy person will spend money on experiences. Maybe they go on a vacation getaway for a week or treat themselves to a fancy cup of coffee every now and then. To them, it's all about the experience, not material items.
2. Convenient options that save them time
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Convenient options come in many forms these days. People rely on the ease of things like pre-made foods they can pop into a microwave and eat in less than 10 minutes or hiring a maid to clean their house for them instead of doing it themselves.
They outsource their labor and spend money so they have a peace of mind. More than that, it saves them time, even if they're dropping a pretty penny. But while some people might believe that it's lazy to use a rideshare or order takeout every night, the happiest people see the benefits.
According to a PNAS study, when people buy time-saving services or purchases, they have greater life satisfaction. The study found that buying time does indeed promote happiness.
With less stress in their life, they find time to focus on things that are important. If they have a housekeeper cleaning the kitchen, they have more free time to spend on their hobbies or with their family. Even opting to eat frozen meals saves time.
The study's lead author and assistant professor at Harvard Business School, Ashley Whillans, further explained, "People who hire a house cleaner or pay the kid next door to mow the lawn might feel like they're being lazy. But our results suggest that buying time has similar benefits for happiness as having more money."
So, the happiest people around don't worry about how they come off to others. If it makes life easier for them, that's an option they're comfortable with.
3. Treating others to something special rather than spending on themselves
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Spending money on whatever you want can have detrimental affects on your health and finances. When people are compulsive spenders, they buy things because of how it makes them feel. In the moment, it gives them a rush, but afterwards, they may feel guilty or ashamed.
For actually happy people, rather than spending money on their own needs, they'll spend money on the people closest to them. It makes them feel really good, and they may be onto something.
One study from the University of British Columbia, Harvard Business School, and Simon Fraser University found that prosocial spending, where someone spends money on other people, can bring emotional fulfillment and happiness to the one paying the bill.
These happy people may treat their friends and family to a nice dinner. Or, they'll buy them gifts just because. Maybe they even take them out for a day of shopping. Whatever it is, their intention is to spend time together and simply pay it forward.
No matter their salary or how much is in their savings account, to these folks, making other people happy is how they find joy in their own lives.
Allison Peterson is a writer with a degree in English from the University of Nevada, Reno. She writes on relationships, lifestyle, and mental health topics.
