Wednesday, July 27, 2016

Can Money Buy Happiness?

'Six years ago, a landmark study found that money did improve subjective well-being, but only up to a point: Above an annual household income of around $75,000, found the Princeton researchers, more money wouldn’t buy more happiness.
But that doesn’t mean how people (of all income levels) spend their money is irrelevant. 
In fact, a recent wave of research suggests that money can buy happiness—if we spend it in the right ways. Dishing out cash for experiences rather than material goods can give us a boost, as can spending on other people. And we’ll get the biggest happiness bang for our (literal) buck if we indulge in many small treats rather than a few big splurges. 
Now, a new paper published in Psychological Science suggests that money can also buy happiness when we spend it on products that fit our personality.  Across more than 76,000 transactions, the researchers found that participants with a better match between their personality and their purchases were more satisfied with life. This link was even stronger than those between total income or total spending and life satisfaction, and it held even after controlling for income, age, and gender.'
To read more click, 'Money enables us to lead a life we want'

Covey Cowan, San Francisco, California