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Where to Spend Money to Be Happy?

A university student who loves writing, reading, researching cooking, baking and travelling.

I have been rich and I have been poor; Believe me rich is better

— Mae West

Can money buy happiness?

One of the most widely accepted and popular psychological studies-based beliefs is that money cannot buy happiness, but recent psychological studies have challenged this widely held belief. Studies show that money can lead to happiness and they prove that happiness depends on how you spend money. The fact is that money can buy happiness to some extent and the relation between the two is not a straight line. After attaining a certain amount of money, it no more affects happiness.


How to achieve happiness by using money?

Hence, we should decide where to spend and in what ways we can spend to maximize our pleasure. So here are some ways and a few tips on how you need to spend to become happy.

Buy impressions and experiences:

Would you rather spend $100 on a concert ticket or $100 on jeans? Which of these purchases will make you the happiest? Give preference to a ticket if you like both! "There has already been a lot of research done on the purchase of experiences: it has been proven that the same amount spent on experiences makes you happier," Norton says. And if you share this impression with others, you will experience an additional surge of the happiness hormone, which is also scientifically proven. Some objects leave an impression, such as a piece of art that you see every day or a bicycle. They also raise the happiness coefficient.

Define your values:

Define your values, and if you're going to buy something, choose something that aligns with your values, suggests Rubin. If you value time with your family, you can invest in a ping pong table that encourages you to spend time together, or you can set aside funds to renovate the veranda where this table can be placed. Alternatively, if you prefer to be alone and listen to an audiobook, invest in a good device and a subscription to recordings of your favourite works.

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Spend money on other people:

Not only should you change what you buy, but so should who you buy it for. "Studies have found that if you spend the same amount on yourself and others, spending on others makes you happier," Norton says. Furthermore, it will make you healthier, according to the journal Health Psychology. Hypertensive patients spent money on others, and their blood pressure returned to normal. The more they spent, the faster their blood pressure returned to normal. One piece of advice: keep the list of beneficiaries as short as possible. Your heart will be happier and healthier if you spend a lot of money on family and close friends.

Savings is your shield:

Saving money isn't always fun, and it doesn't always make you happy. Savings, on the other hand, are fantastic. On the contrary, Norton claims that being in debt is a sure way to be unhappy. As a result, saving money is a good preventive measure.

Happiness test

Once you've mastered all of these tricks, train yourself to perform a quick luck check before making a purchase. Ask yourself What to buy to achieve happiness? Will it make the person I care about happy? You can keep a journal of your observations and record how happy you were after making the purchase; try to record the outcome in some way. You'll quickly realise what provides a high emotional return and what you can't buy.

It is good to have money and the things that money can buy, but its good too to check up once in a while and make sure you haven't lost the things money can't buy

— George Horace Lorimer

Money is, undoubtedly, the reason for happiness in the lives of most people as money makes life much easier, fast and quick but it is not the sole and only way to achieve happiness. Being rich does not fully define one's happiness and life satisfaction rate, and being rich does not mean problem-free and sadness-free life. It means that the problems of rich people are not money-related. They might be in some other difficulties which they can't buy using their money.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2022 Syeda Aala

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