Do money buy happiness?

For experience, which produces positive emotions that are more significant and lasting.

For other people, this makes us even happier than spending money on ourselves (also when spending money to spend experience with other people).

Studies have shown that “money spent on activities like concerts and group dinners brings more satisfaction than purchases such as shoes, television, or expensive time”.

At the end of the study, participants who were told to spend the money given to other people (for example, to buy a toy for their younger sister, pay a meal to a friend or donate to charity) were happier at the end of the day than those told to spend money on themselves.

How can you use this study to your advantage? Acor suggests creating a personal budget:

1. Split monthly expenses into two columns: “to have” and “make”
2. At the end of each month, review both lists, and think of how much happiness the latter has offered you.

At the end of the day, Acor suggests that you may wish to restore the money spent on “to have” in the next column “to do”, especially after you understand how much happiness and meaning your experiences give to your own”.

In my opinion, money is just a tool nothing more. It is important to assess not only the way you spend your money but also how it contributes to your happiness. Money will never be able to buy happiness completely, but when you use it as a means to have fun with other people and experience new experiences, it will no doubt help you.