Chocolate or Money - What's Your Pick?
David Christianson, CFP, R.F.P., TEP
Turns out money doesn’t just not buy happiness – it can actually impede it.
New research from UBC says that as people become more affluent (or even just spend more time thinking about money), they tend to lose their ability to savour and feel joy from the simpler things in life.
A psychology researcher and assistant professor at UBC, Dr. Elizabeth Dunn, and her team are publishing the paper, “Money Giveth, Money Taketh Away: The Dual Effect of Wealth,” in a forthcoming issue of the journal Psychological Science.
The quick lesson is – don’t spend too much time thinking about money and don’t overestimate money’s positive effect on your happiness. I say that wealth is not a worthwile substitute for the ability to savour a piece of chocolate, a walk on the beach or a romantic weekend with your sweetie.
Happiness under a microscope: UBC helps lead a new scholarly focus on wellbeing
As the author put it, quoted in the Globe and Mail, …“If you don’t have a lot of money, at least recognize that maybe there is something positive that you’re getting out of that – which is the enhanced capacity to appreciate simple pleasures.”
Wealthy people don't savour the little things in life
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David Christianson is a fee-for-service financial planner and portfolio manager, whose team at Wellington West Total Wealth Management Inc. provides comprehensive financial advice and management. You can e-mail him at dchristianson@wellwest.caor visit his website at www.davidchristianson.com.