Can't Buy Happiness

Money, personality, and well-being.

by Ryan T. Howell, Ph.D.

When You Are Hungry, the Future Goes on Sale

Next time you are thinking of a trip to the mall or to the stores downtown, have a nice meal before you hit the shops. Doing so may save you hundreds or even thousands of dollars. Read More

Are They Set in Their (Happier) Ways?

If you ask adults about the last time they bought something with the intention of making themselves happier, you'll find that older people are more likely to report being happy with what they bought. There are two competing explanations for this. Read More

How Much Does Happiness Cost? Not Much When You Spend It on Others

In a series of simple experiments, Elizabeth Dunn and colleagues gave envelopes of cash and instructions on how to spend it to students. Each envelope contained either $5 or $20 and told participants to spend the cash on themselves or on someone else. Can you guess whose happiness was most increased? Read More

I Will Have What She's Having: Feeling Left Out and Buying Social Acceptance.

Imagine you are participating in a few studies. The experimenter tells you that you are going to record a short video, which is going to be shown to another participant. After your video is viewed by the other participant, they decide not to participate. Next, you are asked to review a number of consumer items the bookstore is considering stocking. So, what do you buy? Read More

Who Spends Their Money on Life Experiences?

Life experiences become part of who we are. They are woven into our memories, shape our identity, and are generally not replaceable or upgradeable. Experiential buyers also tend to be happier. But who are the people who spend their money on life experiences? Read More

Why Are Emotions Contagious?

If someone cries, you experience more or less sadness and/or urge to help. Any preschool teacher will confirm times when one crying kid has led to all the kids being in tears. Why is this? Is there some kind of benefit underlying the emotional contagion between human beings? Read More

Sticks and Stones May Break Our Bones, But Some Words Make Us Materialistic

Keeping up with the Joneses is both very expensive and unsatisfying. When life is about having the coolest stuff, other people become competitors rather than compadres. It’s a vicious, costly, and unwinnable cycle. However, are even the most doing-oriented people susceptible to materialistic impulses? Read More

Does Wealth Undermine Ability to Savor Everyday Joys?

Examining the link between income and reports of well-being is one way to look at the relationship between money and happiness. However, there are other questions we can ask: Can money actually prevent us from being happy? Can wealth undermine our ability to savor everyday joys? Read More

The Price of (Other People’s) Fame

We have all read accounts of the exorbitant prices paid at auction for items once owned by a celebrity: John F. Kennedy’s golf clubs sold for $772,000; John Lennon’s piano costs $2,000,000.00. Why do people pay an absurd price for a celebrity object? Read More

Sex Changes Everything: Opportunities to Mate Leads to Risk-taking

When men are primed (reminded of, made to think) with the thought of mating opportunities—sex—and then asked to make choices like the ones above, loss aversion is wiped out and even reversed. In other words, when men are thinking about opportunities to mate, risks become much more attractive. Read More

How New Found Financial Clarity is Changing How I Spend

I've never been great with money, and up until recently, my wife and I had no clue about how much money we had, how much we spent, or how much we owed. Income was automatically deposited, automatic payments were set up for nearly every bill, including rent, utilities, and most of our charitable giving. Read More

Preliminary Finding: Stark Contrast in “Thriving” Between Experiential and Material Buyers

Numerous studies have suggested that experiential purchases result in greater and more long-term happiness than material purchases. But what about the overall well-being of the types of people who typically spend materially or experientially? Read More

Money Doesn't Stink—but Hourly Wages Do

Because placing a price on time decreased our ability to savor the moment and enjoy our leisure time, reminders of the value of money cause people to view their free time as wasted time. Read More

All in the Family? Settling the (Materialism) Nature vs. Nurture Debate

Given the implications for individuals and society in general, it certainly seems like we should be striving to determine the sources of materialistic desires and tendencies. And yet, there is no consensus about the origins or causes of materialism. Do materialistic desires result from our upbringing? Our culture? Our genes? Read More

On the Origin of Cooties: Can Feminine Napkins "Contaminate" Your Cookies?

In a series of experiments, researchers placed a number of items in a shopping cart, then asked participants how much they would be willing to pay for one of the items. For some participants, a package of feminine napkins was touching the package of cookies. Did the feminine napkins "contaminate" the cookies? Read More

Of sheep and peacocks: How advertisers get in your wallet

Among the many tricks advertisers employ to persuade consumers to part with their money, two are particularly common. You'll recognize them. Read More

Active Money Management: A Road Map to a Sustainable Financial Future?

For over 30 years, Suze Orman has been on a crusade to change the way people spend and track their money. She's got her work cut out for her, too. Read More

How Can You Improve Your Well-Being Without Spending a Penny?

Most researchers agree that compassion is associated with better short and long-term mental and physical health. So, can changing your daily behaviors to include more compassionate acts increase your overall happiness? Yes. Read More

Does Your Attitude Toward Time Affect Your Spending Habits?

The old adage has it that time is money, and it is certainly the case that when we go to work, or when we pay others for their work, we are often engaging in a direct exchange of time for money. However, research currently underway in my lab suggests that the relationship between time and money may run even deeper. Read More

What kind of paradise are you looking for?

"What kind of paradise am I looking for? I've got everything I want and I still want more."

Ani DiFranco (2001) Read More

Finding "Flow" This Week

While it may not be possible to play basketball like an all star or the violin like a virtuoso, it is possible—if only for short periods of time—to feel like the star performers feel when they are at their best. Read More

Are You Buying Happiness?

Over the past few years there has been growing consensus that buying life experiences makes people happier than buying possessions. But who spends more of their spare cash on experiences? Read More

Keeping Up With Joneses Easier During Recession—for the Rich

Dduring hard times, there's a drop in the share of the household budget devoted to nonessentials like jewelry and travel. Wealthy households could certainly afford these luxuries, but because much of the rest of society is cutting back, they feel less compelled to show off. Read More