Is it possible to enjoy life and save money for the future simultaneously? Of course, it is.
However, if you’ve always had a poor financial habit, you may find saving a challenge. There are always new gadgets, clothes, and food to try out, but there’s no guarantee of you becoming happier due to your shopping spree.
How can you increase your happiness without growing your expenses? The fact that spending more does not guarantee more satisfaction does not mean there’s no correlation between happiness and how you finish. Here are some tested ways to derive more pleasure from your expenses:
Invest More in Experiences Instead of Material Things
There’s a greater chance that you’ll derive more happiness from spending on an experience such as a vacation you’ve always desired as a kid than you would on material things. For instance, if you choose to buy a new car rather than go on a vacation, you’ll soon adapt to the new car, and within a short time, you might start feeling the need to buy another one.
Also, the anxiety and joy that come from anticipating and remembering a pleasant experience surpass what you’ll get from material things you’re actively using.
Consider Spending More on Others than Yourself
Sometimes, putting a smile on other people’s faces by buying them gifts can make us happier than spending the money on ourselves. Surprisingly, the gift doesn’t have to be something big. Something as small as buying lunch for someone who’s starving, or cloth for a homeless boy on the street, can bring more happiness than buying a car for someone who already has two vehicles.
Therefore, before spending that huge amount of money on a new gadget or shoe, think about how much difference that money will make in the life of someone who has more critical needs. Buy a gift for a colleague at work, family member, or a friend instead of giving yourself a treat.
Donating to charity is another option that is similar to buying gifts for others, and it’s likely to trigger happiness the same way.
Don’t Spend Too Much At Once
Another way to derive more happiness from your spending is to spread out how much money you spend at once, instead of wasting money on big splurges. Spreading out your spending reduces the effects of adaptation by introducing temporal discontinuity.
Hence, spending $18 on something now and another $18 on something else later is more satisfying than spending $36 at once.
Invest in Conserving More Time
Modern technology has made it possible to get so much more done within a shorter time. For instance, it’s now possible to send messages from our mobile devices anywhere globally, travel between continents within a few hours, and make purchases from a store without leaving our rooms.
Despite our capacity to accomplish virtually everything quicker and more efficiently, individuals of all income levels experience time famine. This phenomenon has significant negative impacts on our health.
According to research, people get more stressed and anxious when they feel time-constrained, causing them to become less productive and less happy. However, if you can pay someone else to handle those activities that stress you out, you can spend more time on activities you enjoy doing.
Stop Comparing When Shopping
It is common to see people make comparisons between items in a store when shopping. But this habit tends to reduce the happiness we get from our purchases. You’ll be better off evaluating what you intend to buy rather than comparing it with other available options in the store.