Sunday, August 8, 2010

Consumers Find Ways to Spend Less and Find Happiness - NYTimes.com


This article from this morning's New York Times was very interesting. I'm not sure I'm ready to move to a 400 square foot condominium just yet, but it seems to work for the couple that is profiled.

As I've mentioned in previous posts, my wife Christina and I have been on a campaign to try to reduce the clutter in our house. Personally, I can tell you that I haven't missed any of the "stuff" that had seemed so important to keep over the last few years.

It was good to read that we're actually confirming what social scientists have already known; namely, that in the long run material positions matter less to one's happiness than other experiences like travel. As the article notes:

Buying luxury goods, conversely, tends to be an endless cycle of one-upmanship, in which the neighbors have a fancy new car and — bingo! — now you want one, too, scholars say. A study published in June in Psychological Science by Ms. Dunn and others found that wealth interfered with people’s ability to savor positive emotions and experiences, because having an embarrassment of riches reduced the ability to reap enjoyment from life’s smaller everyday pleasures, like eating a chocolate bar.

Alternatively, spending money on an event, like camping or a wine tasting with friends, leaves people less likely to compare their experiences with those of others — and, therefore, happier.


Consumers Find Ways to Spend Less and Find Happiness - NYTimes.com

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