It`s official! If you didn`t know it already, we should be accumulating experiences and not things to make us truly happy...........This is what The Huffington Post has to say:-
If you're wondering whether to use your tax refund to buy that new expensive bag or go on vacation, a new study suggests your best bet may be the latter.
Researchers from San Francisco State University found that people generally know life experiences will make them happier, but they still choose to spend their money on material items because they think they're of greater value.
"We naturally associate economic value with stuff. I bought this car, it's worth $8,000," study researcher Ryan Howell, associate professor of psychology at the university, said in a statement. "We have a hard time estimating the economic value we would place on our memories."
For one of the experiments in the study, published in the Journal of Positive Psychology, researchers surveyed study participants before and after they bought something. Before making the purchase, the participants said that they were aware that a life experience would bring them more happiness, but that it would make more sense financially to buy the material item.
But their opinions changed after making the purchase, researchers found. The participants said post-purchase that not only would happiness be greater with a life experience, but that the life experience was also a better value than the material item.
In another experiment, participants were asked to prioritize either value or happiness in purchasing something. Those asked to prioritize happiness were more likely to pick using their money for a life experience, while those asked to prioritize value were more likely to choose a material item.
"These results suggest that when people are considering material or experiential purchases they are balancing happiness and monetary concerns," the researchers wrote in the study.
When stressed, materialistic people turn to behaviors that are not so healthy.
In the face of stress, materialistic people turn to shopping and compulsive spending. Unfortunately, that compulsive spending and shopping can fuel a vicious cycle, as it's "likely to produce even greater stress and lower well-being," study researcher Ayalla Ruvio, of Michigan State University, said in a statement.
In the face of stress, materialistic people turn to shopping and compulsive spending. Unfortunately, that compulsive spending and shopping can fuel a vicious cycle, as it's "likely to produce even greater stress and lower well-being," study researcher Ayalla Ruvio, of Michigan State University, said in a statement.
Focusing too much on money could be bad for your marriage.
Caring too much about getting or spending money could have an impact on the stability -- and satisfaction -- of your marriage, according to Brigham Young University and William Paterson University researchers. The study, published in the Journal of Couple & Relationship Therapy, showed that couples who have lower levels of materialism also have higher scores on martial quality and satisfaction tests, compared with those with higher levels of materialism, ABC News reported. Plus, this finding held true even when researchers took the couples' wealth out of the equation.
Caring too much about getting or spending money could have an impact on the stability -- and satisfaction -- of your marriage, according to Brigham Young University and William Paterson University researchers. The study, published in the Journal of Couple & Relationship Therapy, showed that couples who have lower levels of materialism also have higher scores on martial quality and satisfaction tests, compared with those with higher levels of materialism, ABC News reported. Plus, this finding held true even when researchers took the couples' wealth out of the equation.
You'll be happier if you stop caring so much about financial success.
In his 2002 book The High Price of Materialism, Knox College professor Tim Kasser explained some of his findings on materialism, which showed that people who place central focus in their lives on financial success are more likely to be distressed, have problems adjusting to life and have low well-being. "Although we cannot be sure from these results whether materialistic values cause unhappiness, or whether other factors are at work, the results do suggest a rather startling conclusion: the American dream has a dark side, and the pursuit of wealth and possessions might actually be undermining our well-being," he wrote in the book.
In his 2002 book The High Price of Materialism, Knox College professor Tim Kasser explained some of his findings on materialism, which showed that people who place central focus in their lives on financial success are more likely to be distressed, have problems adjusting to life and have low well-being. "Although we cannot be sure from these results whether materialistic values cause unhappiness, or whether other factors are at work, the results do suggest a rather startling conclusion: the American dream has a dark side, and the pursuit of wealth and possessions might actually be undermining our well-being," he wrote in the book.
It could be taking a toll on work ethic.
San Diego State University researchers have found that materialism is higher among young people today compared with when their parents were their age -- 62 percent of high-schoolers in 2005-2007 said having lots of money is important, compared with 48 percent of high-schoolers in 1976-1978. However, that rise in materialism is associated with a lower desire to work hard, compared with their parents at their age -- 39 percent of high-schoolers in 2005-2007 said they didn't want to work hard, while 25 percent of high-schoolers in 1976-1978 said the same thing.
San Diego State University researchers have found that materialism is higher among young people today compared with when their parents were their age -- 62 percent of high-schoolers in 2005-2007 said having lots of money is important, compared with 48 percent of high-schoolers in 1976-1978. However, that rise in materialism is associated with a lower desire to work hard, compared with their parents at their age -- 39 percent of high-schoolers in 2005-2007 said they didn't want to work hard, while 25 percent of high-schoolers in 1976-1978 said the same thing.
It makes us feel perpetually unsatisfied.
Happiness expert and University of Illinois psychology professor Ed Diener said in a 2006 New York Times article that materialism can lead to chronic feelings of dissatisfaction. "It is open-ended and goes on forever -- we can always want more, which is usually not true of other goals such as friendship," he explained in the article. "With friends, we have them and enjoy them but usually are not taught that we keep needing more."
Happiness expert and University of Illinois psychology professor Ed Diener said in a 2006 New York Times article that materialism can lead to chronic feelings of dissatisfaction. "It is open-ended and goes on forever -- we can always want more, which is usually not true of other goals such as friendship," he explained in the article. "With friends, we have them and enjoy them but usually are not taught that we keep needing more."
So, what makes you happy?
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