In contrast to decades of research reporting surprisingly weak relationships between consumption and happiness, recent findings suggest that money can indeed increase happiness if it is spent the “right way” (e.g., on experiences or on other people). Drawing on the concept of psychological fit, Professor Sandra Matz and co-authors argue that individual differences play a central role in determining the “right” type of spending to increase well-being.
Can Money Buy Happiness?
In contrast to decades of research reporting surprisingly weak relationships between consumption and happiness, recent findings suggest that money can indeed increase happiness if it is spent the “right way” (e.g., on experiences or on other people).
