New studies of consumption and happiness show that people are happier when they spend money on experiences instead of material objects.
Emboldened by a Web site that challenges consumers to live with just 100 personal items, Ms. Strobel winnowed down her wardrobe and toiletries to precisely that number. Today, her husband, Mr. Smith is completing a doctorate in physiology; Ms. Strobel happily works from home as a Web designer and freelance writer. Income of ~$24k covers their bills. They're car-free but have bikes. “I really believe that the acquisition of material goods doesn’t bring about happiness.”
“We’re moving from a conspicuous consumption — which is ‘buy without regard’ — to a calculated consumption,” says Marshal Cohen, an analyst at a retailing research firm. Consumers saved 6.4% of their after-tax income in June. Before the recession, the rate was 1% to 2%.
“We buy a new house, we get accustomed to it,” says Professor Lyubomirsky, who studies “hedonic adaptation,” a phenomenon in which people quickly become used to changes, great or terrible, in order to maintain a stable level of happiness. Over time, that means the buzz from a new purchase is pushed toward the emotional norm. “We stop getting pleasure from it,” she says. And then, of course, we buy new things.
Ms. Strobel, our heroine who moved into a 400-sq ft apartment, is now an advocate of simple living, writing in her spare time about her own life choices at Rowdykittens.com.
FULL ARTICLE @ NY TIMES
Mark Brooks: Pigeons and whales. I'm sometimes jealous of them. They live simple lives with zero belongings. They look happy enough. I wonder if they think humans are silly? Irena, Sasha, Victoria and I are car-less, and can fit most of our belongings into 4 suit cases now. I realized 15 years ago that true happiness and fulfillment is in the experiential. Everything else is mental chaff. The things you own, end up owning you.