In a survey of people with incomes over $75K, more than half of those polled say that they get more satisfaction from saving money than they do spending it—especially when we’re talking about purchasing jewelry, clothing, and luxury goods.
The survey, cited in a WSJ blog, also reveals what types of purchases actually do make consumers happy. And the kinds of brands and purchases that do (and do not) make women happy may be surprising:
When given a list of 25 brands from various categories and asked which made them happiest, the top four responses were technology brands. Fashion brands didn’t even make the top 15.
When given a list of 22 activities that contribute to their current sense of happiness, shopping for luxuries ranked 20th, barely beating smoking.
Some might see that as an encouraging sign, since, for smokers, few things in life add to momentary happiness than lighting up. But another way to look at it is that for today’s affluent, luxury spending is bad for their financial health. Like smoking, it gives short-term happiness, but ultimately is damaging to the purchaser and the broader society.
And if you don’t fall into the category of “affluent”? Then both smoking and spending are even worse for you and your family.