Would you be happy if you could have anything that you want? I have a feeling, you answered yes, but, I disagree. A lot of people who won the lottery can testify that it didn’t bring them happiness. This begs the question, “is it possible that money can make you happy”? The goodness is, I’ll be sharing three things you can buy that will make you happy
Can money buy happiness?
Research has shown that money does increase happiness, however, the data stops at $75000 per year. If you start earning more than that, the margin of your happiness might not change or will do so slightly.
Even though you do intensive research, you’ll discover the same data. The range is often between $75000-$105000 per year. Depending on the region you live in, this is the sweet spot that will bring you happiness and satisfaction.
Nevertheless, having this idea in your head might make you think you need a lot of money to be happy. Which, of course, falls short of how you can be happy without pursuing money. And the reason is if you are caught pursuing money, you’ll miss out on other happiness-induced activities.
Things you should invest your money in to bring you happiness
Research has shown that these three things will increase your level of happiness but the last one is a bit controversial, let’s dive into them shortly.
Prosocial Spending
Prosocial Spending is the act of spending money on other people. You’ll be significantly happy if you spend your money on other people. It’s a tried and tested method that has been conducted by experts, and the results have been consistent. The key takeaway here is that you’ll derive more happiness from spending money on others than on yourself.
Buying Time
Still credited to research, the outcome is that every time you spend money outsourcing tasks, you tend to become happy. Especially if these are certain tasks that you dislike doing. Therefore, buying time will bring you happiness, and I bet you can testify to this. Time-saving purchases generally increase happiness, as they save time and keep you from doing things you dread.
Most importantly, the reason exchanging time for money increases happiness is that it gives you more time to spend doing the things you love. This could be extra time to socialize with friends and your family. Indeed, prioritizing time over money increases happiness.
Buying Experience
This one is subject to your income level. Research has shown that people who buy experiences such as traveling, hobbies, eating out, watching movies, etc were happier than those who buy material possessions.
At the same time, the time you spent waiting on an experience counts too, for example planning an upcoming vacation. The time you spent waiting for a material possession decreases your happiness level.
Read Also: How your favorite video game will help you build wealth.
Spending money on material possessions hurts you as it increases frustration. The money you spend on experiences has a positive influence and effect on you. The feeling derived from a material possession is short-lived, while that of an experience lasts longer.
Read Also: How to plant a wealth tree for your children
Conclusion
Now, that you know what to spend your money on, the next step is to learn how to save your money. This way you can have the funds you need to buy your happiness from the world. And you can find the answers by doing an intensive reading on this blog. If you follow through various links embedded here, you’ll find interesting and educating articles to feed your eyes upon. Good luck.
