We are poor broke college students. We may dream of the day where we take fabulous European vacations in style and grace, but today is not that day. Today our eyes are bigger than our bank accounts and the world seems to be full of expensive and beautiful items that are just out of reach. Many of us have our eye on that one beautiful and expensive item, the one we’re convinced will totally improve the quality of our life, and will save up until we attain it.
It turns out this may not be the healthiest attitude for us.
That one thing that we’re so anxiously anticipating having may actually be making us truly anxious. According to an article written in the Wall Street Journal, Can Money Buy Happiness? recent studies show that it’s not the amount of money we have, nor how much we spend that makes us happy or stressed, but rather how we spend it.
Research by The Journal of Positive Psychology and the University of Michigan has shown that people who spend money on experiences, rather than on material items, are happier. This means that going out to sushi isn’t spending frivolously: its an investment in your friendships and happiness. By spending money on experiences, people are able to cherish the memories that they made, which, corniness aside, are very hard to place a price tag on.
Those who spent money on material items such as shoes or recreation technology were more likely to show dissatisfaction. People tend to compare the things they buy to other peoples possessions and base their satisfaction upon those comparisons, even if it’s subconscious. There is always going to be a newer or cheaper version of what you bought.
However, with experiences, you have your own memories, emotions and connections to base your happiness upon. The moments may seem like they’re fleeting, but by the memories can make you happy every time you think about them, and can actually de-stress you. For instance, if you indulge in the weekly ritual of getting breakfast burritos with buddies before sleeping the hangover off, those memories will make you happier than if you spent that money on clothes or a new phone.
Think about it this way Birkenstocks are roughly $100 to $140. These shoes are great, and worth the price, don’t get me wrong. But are they worth giving up some quality time with your friends? These shoes can replace getting dinner (assuming you spend $15 going out to eat) up to ten times. Those ten dinners where you catch up on everything that happened during the week, and found out the plot twists and happenings in your friends lives.
In the end, its not the money that makes us happy. It is how we invest it that affects our life most. How to spend the few extra bucks left over at the end of the month after rent and groceries can seem like a big decision. It’s understandable that you may not be able to afford dinner out every week, so if you’re looking to save some cash, there are cheaper ways to have good times: the drive in movie theater, a cup of coffee, or making dinner together can save you money.
As seen in the photo above, my friends surprised me on my birthday one year with a trip to the roller rink, and it was one of my favorite nights of the whole year. Simple, inexpensive, and incredibly fun. For those with a significant other, searching for that perfect gift can be as finding something you could enjoy doing together.
In the Wall Street Journal article, Can Money Buy Happiness? the author discussed not only spending, but how to appreciate what you have already to increase your happiness, without costing you more money. There are many ways to invest in happiness without breaking the bank. In fact, one could argue that happiness is the one thing that you can spend less on, to get more of.
