They say that money can’t buy happiness, but that is not strictly true. Even if you cannot literally purchase a product called “Happiness,” you can derive pleasure from the things that you buy – whether they be physical possessions or intangible experiences. But exactly how to spend our disposable income, and whether we are using this money to make ourselves truly happy, are issues that have plagued most of us at one time or another. And, at last, psychologists believe they have the answers.
It is no secret that many consumers are motivated to focus their spending on material possessions. In fact, materialism affects more young people today than ever before. According to a 2013 study by researchers at San Diego State University, 48 percent of high-school students in 1976-78 said that it was important to have lots of money. By 2005-07, some 62 percent agreed on the same point.