Psychologists have found a surprisingly small relationship between money and happiness, and economists have found Americans’ happiness levels to have remained largely constant despite increases in the country’s financial wealth over the same time period. Why doesn’t a whole lot more money make us a whole lot more happy?
One answer is that people aren’t spending it right. For example, people often spend their money on objects (rather than experiences), on the self (rather than others), and on big luxuries (rather than small pleasures) – expenditures that are not conducive to long-term happiness.(...)
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