Searcy, AR (LP)– Many Americans are plagued by the “if-only” syndrome. They believe that if they could only get a raise, a new house, a new car, or some other material possession, they would finally be happy. Not surprisingly, studies demonstrate that buying things does not lead to happiness. A growing body of evidence demonstrates that you can buy happiness essentially by buying time. A large chunk of this data comes from Ashley V. Whillans, a business professor at Harvard University, who studies how people navigate trade-offs between time and money.
In one study, published in 2017,in the Proceedings of the National Academy of Sciences, Whillans and her research team surveyed more than 6,200 adults living in the United States, Canada, Denmark, and The Netherlands. The data showed that people who chose to spend their money on time-saving services—such as meal delivery, a house cleaner or a lawn service—reported greater life satisfaction compared to those who did not.
Catie Holman, economics teacher at Searcy High School states, “I would love to have all the things and go all the places but overall, money is not important to me. I don’t obsess over it and I don’t worry about it. I would have loved to have enough money to renovate my 100 year old home into sometime that my family of 6 could grow into, but I don’t care if I live in Country Club or drive a fancy car or wear name brands.”
You know that feeling you get when you’re sitting on the beach with an iced tea and feel one with the world? What about the feeling you get after seeing your favorite DJ or band and walking out into the crisp air after the show? That’s your flow state. When you are happy. Finding your flow state will make you happy, but it’s still fleeting. Unfortunately, so much of American culture has linked happiness with consumption – this is why we feel temporarily happy when we buy stuff. But that happiness rarely lasts. It’s surface level.
Holman states, “I believe there is a study that says that when you purchase something it releases dopamine- but it goes away quickly. Think about that toy you played with all the time but then outgrew. Or the shirt that was your favorite that you never wear anymore.” Many people associate the accumulation of wealth with the accumulation of power – the more money you have, the more powerful you are. And when people have a low sense of their personal power, they have an overwhelming urge to get large sums of money quite out of proportion to their needs. No matter how much they acquire, it’s never enough. This approach also aligns with greed. A greedy person never has enough, no matter how much he or she gets.
Madison Peters, student at Searcy High School states, “I think money can give me power to fit in with everyone and buy what’s trending.” Money is important to happiness. Ask anyone who doesn’t have it. Having a higher income, for example, can give us access to homes in safer neighborhoods, better health care and nutrition, fulfilling work, and more leisure time. However, this only works up to a certain point. Once our income reaches a certain level and our basic needs for food, health care, safety, and shelter are met, the positive effects of money—such as buying your dream home—are often offset by the negative effects—such as working longer hours, or in more stressful jobs, to maintain that income. Some people might say that money is becoming too important to us.
Peters states, “I think we should except how things are right now and how important money is becoming, because I don’t think there’s gonna be any chance in changing how things are turning out.” So, before you pull out your wallet or click to order online, think about whether this purchase will really make you happy. If it will jeopardize your basic needs, think twice. If you have some disposable income, considering planning a trip or taking a class to learn a new skill. Finally, in this season of giving, know that if you spend your money on others or donate it to good causes, you may feel better than if you spend it on yourself.
