Jan 05, 2017 09:56 AM EST

How Money Can Buy You Happiness: Tips On How To Spend Money The Right Way

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For many people, having money means having a sense of security, freedom, and comfort, but it has often been said that money cannot buy one happiness. However, studies show that money can boost one’s happiness level—if you spend it on the right things, and in the right way.

Many are skeptical about the power of a purchase, as it has been often said that the high that one gets from spending money only lasts for a short time. But when money is used to buy experiences, time, things that give lasting comfort, or items that can help a person be more productive, then happiness comes into play.

Here are several ways on how money can buy you happiness.

When money is used to deal with a long-time health problem

Most people who are struggling with their health can attest to being happier when they get something that would bring great relief. Consider how an asthmatic person, who has always relied on an inhaler, will feel when gifted with a portable nebulizer, which helps dispense medication better than any inhaler. When it comes to people with health problems, buying the right medicines, supplies, or treatments will help in promoting happiness.

When money is used to purchase comfort

A housewife who has always cooked meals in an outdated kitchen with defective appliances will surely get happiness out of a new and improved kitchen. The same goes for a person whose back has always troubled him at night—if he or she buys a new mattress, then happiness levels improve as comfort is tied to a person’s general outlook on life.

When it is used to buy experiences

Satisfaction with experiential purchases never fade. Just ask the couple who went on a tour across Europe or who went backpacking in Asia. The same goes for the man who went skydiving for the first time in his entire life or the woman who went on her first ski trip. These experiences, over time, become more memorable and valuable for people, and these add more points to a person’s happiness bank.

When money is used to buy the right tools

Everyone knows that it is a pleasure to work when given the right tools for the job. A writer, for instance, will find happiness and satisfaction with the purchase of a new laptop, software, and printer. If he or she prefers putting pen to paper, even buying a good quality pen can do wonders for one’s happiness level. Working with finely-made tools is a real joy, and using well-made things in one’s work can help lessen the stress from everyday tasks.

When money is used to buy time

Many people on their deathbed have always wished for more time with their loved ones. While one is still young and healthy, it would do well to use the money to buy some time for oneself to spend with family and friends. Money spent on a yearly vacation with the family is a good example of buying time. The same goes for hiring a maid service once a month so parents can spend the day with their children instead of cleaning at home.

For more, check out Jobs & Hire’s report on the simple ways to save money.

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