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Money Happiness? September 17, 2008

Just a moment ago I dig out my bro’s blog and read his interesting article again. Is been left there for quite some time and I felt it should be reposted once in a while. Let’s have a look at the following:

Money Happiness?

The pursuit of money and the pursuit of happiness often get equated, especially in our success-addled culture. But over the past decade or so, science has set us straight on two points: First, once you have escaped poverty, more money won’t buy you more happiness. There’s little difference in the overall happiness of millionaires and the middle class. And second, if you are going to spend your money in search of greater happiness, you’re better off buying experiences rather than things.

Why?

Goods tarnish over time. Experiences, on the other hand can get better as you remember them, particularly if you’re one of those people who tend to embellish a bit.

Here’s a little idea on how to live well:

Follow your (everyday) bliss. Most of us don’t pay a lot of attention to the smaller, day-to-day occurrences that make us happy. We focus on the negative. The driver who cut you off on the parkway on the way to work is likely to be dinner table conversation. That nice walk you took in the park at lunchtime? Probably not. It isn’t enough to be happy, “You have to be aware enough to enjoy that happiness.” One way to raise your awareness, he suggests, is to keep a happiness diary. Before you turn out the light, jot down what made you happy that day and assign the experience a score of 1 to 10. After a couple of weeks, you’ll realize that certain experiences make you happier than others and that you have good times even on very bad days.

Savor the warm-up. “Anticipation is where the greatest pleasure lies”. What’s better than a first kiss? The butterflies in your stomach when you know that first kiss is on its way. As you look for experiences that suit you, focus on those that have a long lead time – and then enjoy the journey there. If the experience is a vacation, for instance, savor the planning. Read guidebooks. Surf the Web. Discuss options with your traveling companions. You’ll find yourself excited about the whole process, not just the trip itself.

Do something new. Remember the first time you tasted champagne or caviar? It was exciting. But if you have it every night? The thrill wears off. For some people novelty is particularly stimulating. About 25 percent of us may have a variant of dopamine receptor in our brain that makes us especially curious. If that includes you (and your happiness journal should clue you in if you’re not reading this while on safari in Namibia), you’ll need more new experiences than others.

Do something selfless. Giving money away is one way to feed your financial soul, but you also get a happiness jolt by getting more actively involved in social causes. People who are focused on fame, money and success are not as happy as those who put their energies into challenges that are less me-centered. Why? In part because there’s always more fame and money to chase.

If you’re at a loss? Do something physical. The reaction the body has to exercise is similar to the one it has to excitement. Your muscles relax. Your pulse rises. Endorphins kick in. It won’t just get you in better shape, it’ll make you happier. After all, who doesn’t feel better after a good sweat?

source: MoneyMagazine