Science finds money can buy happiness, if you spend it right.
Despite decades of people telling us that money can’t buy happiness (“it’s all about the experiences!”), researchers have found new evidence that spending actually can make our lives a whole lot better – as long as you buy the right things.
So what should you purchase in order to bring yourself some much-needed joy? The scientists looked at nearly 77,000 bank transactions in the UK, and found that people who spend money on purchases that suited their personality traits were more satisfied with life.
The researchers found that not only did people spend more money on things linked to their strong personality traits – for example, extraverts spent on average US$73 more per year on pub nights than introverts.
Not only that, but life satisfaction was more closely tied to those ‘personality appropriate’ purchases, rather than total income or total spending – so it wasn’t just that these people were enjoying more money, it was what they were spending it on making all the difference.
“By developing a more nuanced understanding of the links between spending and happiness, we hope to be able to provide more personalised advice on how to find happiness through the little consumption choices we make every day,”
After all, money does make the world go round.