Money Buys Unhappiness
“ ’Tis the gift to be simple,” the Shakers sing. Catholic nuns and Buddhist monks take vows of poverty. Why? A new study published online in May in Psychological Science offers a hint. Money—even the thought of it—reduces satisfaction from life’s simple pleasures. Studies have shown that a person’s ability to savor experiences predicts their degree of happiness. Savoring is defined as the emotions of joy, awe, excitement and gratitude derived during an experience....