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Money Can Buy You Happiness – A Calculation

On Sunday, I broke my “no shopping until NYC” ban by going over the border with a friend to do some shopping.

I scored big time on some perfect pieces, and only spent $240.

This morning, when I got up and surveyed my closet to get ready for the day, there were so many options: I could wear my new skirt, my new dress, cardigan, or tank top. I love having a lot of options in my closet. I chose a new skirt with a tank top I already had, topped off with a cardigan and my new jacket. I felt great the moment I put it on.

I climbed in my car to go out, forgetting about my awesome outfit. That is, until I realized I couldn’t see out of my window and had to climb out and scrape the frost off of the glass. I was once again happy with the items I snagged, since my new coat was shedding the water very well.

Once again, I forgot about my new clothes until I walked past a set of windows in the lobby of my office building. I caught my reflection and remembered I was wearing a cute outfit. A brief moment of self confidence passed.

There were periods of awesomeness throughout the day, when a friend would comment on my new skirt or somebody would tell me I looked good. They made me happy for a few seconds, and then I would continue on with my day.

This dress would quadruple my happiness seconds. Abercrombie.ca

The next time I wear the skirt, I might get a compliment or two, and I’ll still probably think it’s really cute, but my joy with the new outfit will decline. Eventually, it will just be another outfit that I throw on when I’m rushing to get out the door for work. This is consistent with the law of diminishing returns.

Why am I telling you about the mundane details of how I enjoyed my new outfit?

Because it got me thinking. I have an active mind, so every time I thought about how good I felt in the outfit, or how happy I was with my purchase, I was over in it no more than 10 seconds.

I would say that these instances happened about 15-20 times today, giving me about 200 seconds of pure glee over my outfit. I definitely felt more confident in it than I do in my normal work clothes, so let’s factor that in.

Confidence makes life easier, makes you more productive and sure of yourself, and really can make you happier. So I am going to add another 200 seconds of happiness factors just for the subconscious confidence that I was probably affected by all day.

So that’s 400 seconds of happiness in the first day. That is about 6.66 minutes.

Let’s say that every time you wear the outfit after that, the time during which you are thinking about how cute the outfit is, and basking in the glow of cuteness, halves. I think that’s a fair assumption.

So, that means you’d get:

400 happiness seconds for the first day; 200 for the second day; 100 for the third day; 50 for the fourth day; 25 for the fifth day; 12.5 for the sixth; 6.25 for the seventh; 3.12 for the eighth; 1.56 for the ninth; and .78 for the tenth. Anything after that is pointless.

That means you get about 800 seconds of happiness from a new outfit that you like.

Obviously, if it’s THE ultimate outfit, that you want to live in because it makes you look so freakin’ amazing, you can do with that number what you wish. I have 2-3 of those outfits, but I can’t wear them too often for fear of scaring people away with my devilish good looks 😉 (I kid).

Now. Say you spent $100 on the outfit. Each second of outfit happiness, in this case, costs you $0.125. Add to that if your outfit costs more.

What else could you spend your money on that would give you a higher happiness return?

Perhaps shopping for that outfit was fun, because you were shopping with a friend, and you shopped for 6 hours. You were happy 90% of the time during that trip (the 10% was for when you tried on a bikini, or the entire time you spent paying for your purchases).  That’s 21600 happiness seconds, which is pretty awesome. But you would have been able to have those happiness seconds if you weren’t spending money too. You could have window shopped with your friend, or had coffee with her.

If you didn’t go shopping, and didn’t spend all of that money, you’d still get the happiness seconds, but it would cost you nothing. If you went for coffee with the friend, and spent $3.60 on a grande latte, those happiness seconds would cost you so little that it’s not even worth mentioning, per second.

My prognosis

So. Can money buy you happiness? Yes. But there are cheaper ways to gain happiness seconds.

Your prognosis

Tell me: what do you think? Can money buy happiness? Are you happier spending $240 on clothes in six hours, or talking to your friend for 6 hours?

 

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29 Comments

  1. I think I would enjoy the clothing over talking to friends (that sounds horrible out loud, wow!) I think the happiness minutes and the confidence points are invaluable though. A good outfit can really change how you carry yourself the entire day. That extra boost of sass could be enough to get you noticed in a meeting or help you overcome a conflict you just wouldn’t have had the energy to deal with normally.

    I know that’s pretty much making our clothing out to be super heroes, but I do believe it can make a difference.

  2. I believe money can buy you stuff and in our country stuff is related to happiness.

    We love stuff so much and our image that buying things for ourselves is what we live for. It’s the reason we feel the NEED to buy each other gifts at Christmas. It’s the way we show and receive love because “stuff” is how we define happiness today.

    For me, I’d much prefer a great conversation with a friend than to buy something.

  3. I always have clothing regret. After I buy something I usually regret it because I feel like there’s always better ways to spend my money. But I do think spending money on vacations is a way for me to buy my happiness.

  4. That’s an interesting question. I’m not sure that money necessarily buys happiness. I would say that having enough money to do the things that you enjoy can bring you happiness, but I wouldn’t say that money itself can buy happiness. That’s a bit too strong to assert. But, I really liked this question. It really made me ponder.

  5. Yes! Money can buy you happiness! 😛
    Oh, how the heck would I know? I’ve never had any! I’m sure it would turn me rotten….but adorably dressed. That dress is adorbs!!!!

  6. I never buy myself clothes. I have clothes regret like Michelle. I tell my wife that if i need clothes i need them bought at a holiday or birthday because i am frugal. Ok Cheap! I didnt use to be like that. I used to have all the A&F stuff and decked out in GAP and banana republic. I still wear name brands but just get it from TJ Max. I get happiness in knowing I didnt pay top dollar for last years model shirt.

    I think money can buy you happiness. Spending money lets face it is fun, when you are out with friends having a good time you tend to spend more. Just the nature of how it works. The compliments that you get from what you bought from a significant other give you a certain amount of happiness too when you look nice in that new outfit. So as Worksavelive said, we have turned into a stuff society and yes having material things makes us happy.

  7. I wouldn’t say new clothes makes me very happy, but there are other purchases that do buy me temporary happiness. I enjoy good food, but once it’s gone that paid happiness quickly fades. I also love going to sporting events and concerts, but beyond some distant memories that also only lasts during that night. To be truly happy, I think we need to cherish the free and cheap things in life. Then our emotions no longer depend on buying stuff creating both highs and lows.

  8. I know a quote from a line in a song that goes

    “Money can’t buy happiness but it’s a dam good down payment”

    I think this holds through.

  9. “Confidence makes life easier, makes you more productive and sure of yourself, and really can make you happier” I think THIS statement really is the backbone to what you are saying in this post. It’s the confidence. I also think whatever makes you happy, you should set aside a portion of your budget for it to keep you sane. Great post, good luck on finding those same things for less money in the future 😆

  10. I have found joy in thrift stores. “I got ALL OF THIS for sixty bucks can you believe it?!?” On the other hand, I still don’t have a bridesmaids dress for my best friend’s wedding because I just can’t justify the $200.

  11. I do get a confidence boost from new clothes, but probably just for the first two days worn. And I have a really hard time spending money on clothes. I think the temporary confidence boost is great for special occasions.

  12. I’m a big “money can’t buy you happiness, but it can certainly pay for the necessities in life to free up time for you to worry about crap that doesn’t matter” guy. 😉

    Ahhh… free time to worry about stupid crap. The American dream…

  13. No, money can’t buy happiness. But it sure can buy cute clothes! I only go on a “shopping spree” about once a year…and this past weekend was it. I, of course, planned ahead and printed out the coupons I would use at the stores I shopped….got 3 dresses for $100. And they make me feel amazing. This is still a little too much money for my taste, but for a pseudo post postpartum woman I DON’T CARE. Feeling good in my clothes again feels awesome.

  14. Haha, Love this. Great take on if money can buy happiness. I am a believer that money can buy the things that make you happy. Be is clothes, a trip, a night out, etc.

  15. Personally, having $250 makes me happier than having a new outfit 🙂

    Plus, having $250 can give you a happiness boost every month as it compounds and earns interest. Not much at first but in the long haul it can add up.

  16. Money doesn’t buy happiness, but money gives freedom to pursue your wildest dream; and, that brings lots of happiness. Interestingly, Harvard students went around the globe to find happiest people, and they found Buddhist monks living in abject poverty to be the happiest people. So, true happiness comes from within; by cherishing every moment we live on this great mother Earth.

  17. Hahaha, I love how you did all those calculations. When it comes to clothing, there are definitely pieces that bring me a lot of happiness and confidence, even after I’ve had them for a year or two or three. There are also clothes that I might’ve spent $3 on but that I have never worn and will never wear. I try to buy more of the former and less of the latter.

  18. A good new tool put to productive use brings happiness, and why not? Maybe it’s in the form of satisfaction at a job more easily done, but I’m not quibbling.

  19. Interesting post! Can money buy happiness? I think money can allow us to buy (or do) things that make us happy. Clothing isn’t usually my thing, but if I find a striking blazer that reflects my personality, I will pay a fair bit for it – but then I wear it for years.

    But I will spend a lot on my triathlon hobby, because I get a lot of happiness out of it!

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  21. It all depends on the circumstances. Sometimes ‘retail therapy’ can lift your spirits, other times some talking things over with a friend can be just as good.

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  24. Yeah, I usually end up regretting 90% of non-food and gasoline purchases. Even some of those I end up regretting! It’s amazing how experiences are a much better use of money–take a picture and hang it on your wall–ok, then you have to buy a frame…well, spend money on experiences for sure!

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