Study: People Who Spend Their Money On Experiences Are Happier
How you spend your money says a lot about you — and it says even more about whether or not you’re a happy person. A new study from San Francisco State University asked nearly 10,000 people to evaluate how happy they were. It found that people who spent their money on experiences were generally happier than people who spent their money on material goods. Experience-oriented spenders–people who’d rather spend their cash on a dinner with friends, a trip or a movie rather than a new shirt — also reported that they got along better with others and experienced less anxiety than their materialistic counterparts.
That’s in part, said the study’s lead researcher Ryan Howell, an assistant professor at San Francisco State, because experiential spenders are bigger risk takers. “You are taking a bigger risk on a night at a new restaurant or play,” he said. “You can’t return a trip or a meal the way you can return something from a store.”
So what kind of spender are you? Experiential or material? [NY Times]