They say that money can buy you happiness, and for the most part – they’re right. While buying new things for yourself can give you that instant lift, the downside to shopping to boost your happiness could spell bad news for your finances. However, there is some research that suggests that if you spend money in the right places, it could actually make you happier.
Could changing your spending habits make you happier?
When spending is bad
First thing’s first, just because some research highlights the positive effect of spending, that doesn’t mean you should rush out to stores and blow all of your savings on things you don’t need. Spending money for the sake of it, or because you think it will make you happy isn’t a healthy attitude to have and could land you in financial trouble.
Spending your money right
An article on the subject in Time Magazine quoted an old Lexus ad featuring a slogan that said: “Whoever said money can’t buy happiness isn’t spending it right,” Sure, the guys at Lexus were trying to get you to buy a Lexus, but it seems that there’s some truth in the motto after all.
An increase in wealth can improve your standard of living, as well as make it possible to purchase things you’ve been desiring – like a new car or designer fashion. But the novelty of buying shiny things soon wears off. Spending money on experiences, however, is what could be the key to happiness. When you spend money on things you enjoy doing, you create happy memories, as well as open yourself up to spending more time with people – who can also boost your happiness.
Experiences versus things
So what counts as an experience versus what counts as a thing? You could argue that spending money on Blu Rays or computer games counts as buying ‘things,’ yet what you get from them is actually an experience. Provided you make the most of the experience offered, your spending could be contributing to your happiness.
Adopting healthier spending habits
Another way you can make yourself happier is to adopt better spending habits. Taking control of your financial situation can help to relieve stress and anxiety, while also helping you to save money for experiences that will make you happy such as vacations or spending time with friends. Checking for the right financial solutions for your needs via cashloans.co is one way to help you get the best interest rates and keep your repayments down so that you can save more. Making positive adjustments will boost your happiness and help you avoid the misery that can be caused by debts and poor finances.
Adjusting your attitude to spending is tough, but the results will be worth it. Changing bad habits that could be affecting your finances can make the world of difference to your situation – helping you plan for a more secure financial future. If you want to see if money really could buy you happiness, start making changes today.