For greater happiness, spend your money on 'life experiences' - 21 News Now, More Local News for Youngstown, Ohio -

For greater happiness, spend your money on 'life experiences'

Updated: April 2, 2014 09:13 AM
© Jupiterimages / Pixland / Thinkstock © Jupiterimages / Pixland / Thinkstock

WEDNESDAY, April 2, 2014 (HealthDay News) -- Buying so-called "life experiences" makes Americans happier than material goods such as cars, but they tend to favor the latter in the mistaken belief that they provide better value, according to a new study.

Researchers interviewed people before and after they made purchases and found that consumers felt life experiences -- like a weekend trip -- made them happier and were a better use of money than material items.

"People actually do know, and accurately predict, that life experiences will make them happier," study co-author Ryan Howell, an associate professor of psychology at San Francisco State University, said in a university news release.

"What they really underestimate is how much monetary value they will get out of a life experience," he added. "Even though they're told experiences will make them happier and they know experiences will make them happier, they still perceive material items as being a better value."

Part of the reason for this is that life experiences offer only memories, while people know the actual value of their material goods, said Howell, who has done extensive research on spending and happiness.

"We naturally associate economic value with stuff. I bought this car, it's worth $8,000," he explained. "We have a hard time estimating the economic value we would place on our memories."

The importance of this line of research goes far beyond shopping, according to the authors.

"Happiness is not some fleeting, positive emotion we experience in the moment," Howell said.

"There are tremendous benefits to happiness. Companies want their employers to be happier because they are more productive. Doctors want their patients to be happier because they will be healthier. We should try to figure out how to help people maximize their happiness because of all the benefits that come from it," he concluded.

The study was published online recently in the Journal of Positive Psychology.

More information

Mental Health America offers tips on how to live your life well.

Copyright © 2014 HealthDay. All rights reserved.

*DISCLAIMER*: The information contained in or provided through this site section is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional advice. Use of this site section and any information contained on or provided through this site section is at your own risk and any information contained on or provided through this site section is provided on an "as is" basis without any representations or warranties.
  • More From wfmj.comMore>>

  • Toledo zoo welcomes 100-year-old tortoise

    Toledo zoo welcomes 100-year-old tortoise

    Thursday, August 28 2014 8:11 AM EDT2014-08-28 12:11:09 GMT
    TOLEDO, Ohio (AP) - The newest resident of the Toledo Zoo is a 100-year-old dome-shelled Galapagos tortoise that weighs in at 440 pounds. The tortoise, named Emerson, arrived at the zoo Wednesday night from the San Diego Zoo. He was escorted by Toledo Zoo personnel on his flight to Detroit before being driven to Toledo and uncrated inside a heated shed. Handlers welcomed him with carrot and sweet potato treats and a neck rub. The (Toledo) Blade reports Emerson is the zoo's first Galapagos to...More >>
    TOLEDO, Ohio (AP) - The newest resident of the Toledo Zoo is a 100-year-old dome-shelled Galapagos tortoise that weighs in at 440 pounds. The tortoise, named Emerson, arrived at the zoo Wednesday night from the San Diego Zoo. He was escorted by Toledo Zoo personnel on his flight to Detroit before being driven to Toledo and uncrated inside a heated shed. Handlers welcomed him with carrot and sweet potato treats and a neck rub. The (Toledo) Blade reports Emerson is the zoo's first Galapagos to...More >>
  • Ohio serial rapist gets 135 years in prison

    Ohio serial rapist gets 135 years in prison

    Thursday, August 28 2014 8:10 AM EDT2014-08-28 12:10:21 GMT
    CLEVELAND (AP) - A man who was linked to seven Cleveland-area rapes when authorities reopened hundreds of previously unsolved rape cases has been sentenced to up to 135 years in prison. The sentence by a judge in Cuyahoga County on Wednesday means 69-year-old Robert Green likely will never get out of prison. He was indicted in five of the cases in November and two more in May. He pleaded guilty. The (Cleveland) Plain Dealer reports that the rapes occurred over nearly a decade. They were unso...More >>
    CLEVELAND (AP) - A man who was linked to seven Cleveland-area rapes when authorities reopened hundreds of previously unsolved rape cases has been sentenced to up to 135 years in prison. The sentence by a judge in Cuyahoga County on Wednesday means 69-year-old Robert Green likely will never get out of prison. He was indicted in five of the cases in November and two more in May. He pleaded guilty. The (Cleveland) Plain Dealer reports that the rapes occurred over nearly a decade. They were unso...More >>
  • Drone delays landing of Ohio hospital chopper

    Drone delays landing of Ohio hospital chopper

    Thursday, August 28 2014 8:08 AM EDT2014-08-28 12:08:46 GMT
    DAYTON, Ohio (AP) - Officials at a southwest Ohio hospital say a drone flying near the building delayed the landing of an emergency medical helicopter for nine minutes. The health of the patient aboard the helicopter trying to land at Miami Valley Hospital in Dayton wasn't compromised, but an official says the man flying the drone violated an FAA guideline that the operator must be at least 400 feet away from a hospital. Dayton Daily News reports that the Monday incident highlights the need ...More >>
    DAYTON, Ohio (AP) - Officials at a southwest Ohio hospital say a drone flying near the building delayed the landing of an emergency medical helicopter for nine minutes. The health of the patient aboard the helicopter trying to land at Miami Valley Hospital in Dayton wasn't compromised, but an official says the man flying the drone violated an FAA guideline that the operator must be at least 400 feet away from a hospital. Dayton Daily News reports that the Monday incident highlights the need ...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms