Why Does the “Happiness” That Comes with More Money/Material Possessions Do Not Last for Long?
- Some findings from research
Many people associate more money or more material possessions with happiness.
Sure, more money allows one to get things they want (more material possessions), or do things they want to that require money. While these “wants” of theirs being fulfilled, they feel “happy”, or satisfied.
However, such “happiness” tends not to last. Soon one may find themselves stop feeling the initial satisfaction, and start wanting more, and more, to feel satisfied and “happy” from it again.
Even major lottery winners! Research showed that their happiness levels tend to return to where they were before the big win just one year after or shorter; and some may even become less happy!
So why is that? Why happy feelings derived from more money or material possessions do not last for long?
Psychology research identified the following reasons:
Adaptation. We get use to the things we have, and the lifestyle we live in, quite rapidly once we have them. The novelty wears off, so do the excitement and “happiness” that come with it.
Escalation of expectation. After we have reached a level of wealth, our expectation will soon update to a higher target.
A study demonstrated this clearly, as cited by Dr. Mihaly Csikszentmihalyi in his legendary article: “If We Are So Rich, Why Ain’t We Happy?”:
“In a 1987 poll conducted by the Chicago Tribune, people who earned less than $30,000 a year said that $50,000 would fulfill their dreams, whereas those with yearly incomes of over $100,000 said they would need $250,000 to be satisfied….”
Reference group. This is related to the last.
Our satisfaction from material wealthy often involves comparing to our peers, or our reference group.
Once we have arrived a higher level of material wealth, our reference group/peers changes to those similar to our new/higher level, then comparing with this new reference group, the satisfaction comes from the new wealth may become less satisfactory.
These findings reflect the nature of the “happiness” felt from more money and possessions - It is of an external source on the one hand, and it often serves external/outward purposes on the other.
Such feelings of satisfaction do not come from a source within. Since they are from external conditions, psychological adaptation is our natural response to them.
Psychological adaptation is our natural ability to adjust to new or changed external situations, a mechanism we developed during evolution.
That is, we have this built-in mechanism to get used to external changes (such as more money or possessions); Once we get used to them, we no longer feel as much about them.
Therefore, in order to feel the same level of satisfaction from an external source such as money or possessions, we have to have ever increased amount of those, thus the escalation of expectations.
On the other hand, more money or processions beyond fulfilling basic needs often serve external/outward purposes, such as social comparison.
Since, except perhaps the very few on the top in wealth, no matter how much more money or possessions one has, there are always people having just as much or even more, and one has no control of that but to feel less “happy” in such comparison.
A lesson from these findings, then, could be: In order to find lasting happiness, we need to look elsewhere, from internal sources, such as cultivating inner peace and strengths, and building relationships that bring us heartfelt joys.
This is a journey we could take together here!