Forget that Balenciaga bag – complete contentment could be as easy as falling back into some glistening water.
New research by economists has found that spending money on experiences rather than stuff is the key to happiness. (Yes, that is the dinging of cash registers in pubs and tourist towns you can hear.)
Case in point: Margaret, a 31-year-old company director from Brisbane, has never regretted spending money on a holiday. By contrast, she’s had her fair share of buyer’s remorse after purchasing expensive clothes and accessories. “With a holiday, you look forward to it for ages; there’s so much exciting suspense. The time away is whatever you make it – you can meet new people, see some amazing places, have memorable experiences. Then you come home with memories you can look back on anytime,” she enthuses.
While Margaret’s family and friends make fun of her penchant for bag-packing, new studies indicate that the odd trip away might benefit more than our stress levels – it could make us more positive people, too.
The theory is that material items depreciate in value as we watch them get old and dirty – while experiences forever appreciate in our minds as we reminisce and retell stories about them. Experiences get bonus fun points because we tend to do them with other people, and, because humans are basically pack animals, good company gives us a joy boost.
Beth, a 26-year-old office administrator from Newcastle, has given up buying material presents for her boyfriend – now she gets him vouchers for experiences instead. “Two Christmases ago, I bought him a guided canyoning trip at a local national park, and he still talks about it. I like the fact that I’m giving him a great memory and story, instead of just stuff,” she says.
Funnings Warehouse
So, according to economists, money actually can buy happiness – we’ve just been shopping in the wrong places. To increase smiles per capita, our disposable incomes need to be channelled into picnics, travelling, sports, dinner parties, comedy shows, day trips and other fun experiences with people we love. The reason we haven’t cottoned onto this earlier? Because, in our marketing-driven world, it’s easy to confuse feelings of status with feelings of happiness. For example, strutting down the street in a killer outfit makes you feel fabulous and important – it’s status-tastic. But that’s quite a different feeling to laughing so hard with your best mates that cheap champers fizzes out of your nose – which is happiness, pure and simple.
To improve the happiness level in your everyday life, spend any extra dosh you’ve got on experiences rather than products, suggests Anita Medhekar, a senior lecturer in economics at Central Queensland University. “It’s easier to stay positive when you’ve got an experience to look forward to,” she explains. “And that doesn’t mean you have to book international trips all the time – it could be as simple as getting your family and friends together for a barbecue, and looking forward to that throughout the working week,” she adds.
Make the most of good times by inviting mates, taking loads of photos and talking about the event afterwards, which will also give you the most value for money. Reminiscing about happy moments is especially helpful when you’re having a bad day in the office – simply sending an upbeat email that begins, “Remember the time we … ” can lift you out of a crappy mood.
Medhekar also says you can avoid confusing status buys with happiness ones by thinking hard before you fork out big bucks, ie getting out of the impulse-purchasing pattern. “Before you max out your credit card on material goods, be aware that their value is going to depreciate as you watch them get old and dirty,” she advises. Unlike a designer pair of tiny white pants, a crazy fun night with your mates will actually improve with age, and become legendary (in a good way) by the time your grandkids hear about it.
HAPPY-CONOMICAL
Here’s how to get that holiday vibe without making your travel agent rich.
* Throw a dinner party, and invite the funniest people you know.
* Take a long sexy bath with candles and music.
* Hit the town and take lots of hilarious photos.
* Get a massage.
* Jump into the sack with a highly skilled lover.
* Hike somewhere stunning.
* Go skinny-dipping (preferably somewhere you won’t get arrested).
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