Want to be happy? Buy experiences, not posessions
The study based on 35 years of research concluded that material objects are 'worse value for money' due to poor representation of value relative to life experiences. According to Ryan Howell, assistant professor of psychology at SF State, this means material possessions led to less happiness:
"The study demonstrates that experiential purchases, such as a meal out or theater tickets, result in increased well-being because they satisfy higher order needs, specifically the need for social connectedness and vitality -- a feeling of being alive. These findings support an extension of basic need theory, where purchases that increase psychological need satisfaction will produce the greatest well-being."
The results of the study also indicate that neither consumer income nor money spent had any impact on happiness. If you want to test this theory, here's one way to do it:
First, ask yourself: if I can return an object I bought and get it for the exact same money back, would I do it?
Next, ask: if I can return a life experience or skill that cost me money for the same amount, would I do it?
As someone who was previously addicted to buying lots of stuff, I personally agree with the conclusions of this research. Bring on the drugs and the strippers.