With a shopping addiction comes an idea that each purchase will improve one’s happiness, creating an artificial “high” that an addict thinks will last. This is not the case, and although happiness spikes before a purchase it ultimately returns to a baseline level afterward. People known as “high-materialist” consumers have (often unreasonably) high expectations about how a product will improve their happiness. High-materialists even think that if they just buy a certain product it will improve who they are, their relationships, and enhance their everyday life. But no matter what they buy the feeling wears off. When all is said and done, it really is true that money can’t buy happiness.
Read the entire article here: Money Can’t Buy Happiness
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Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.