Do You Think Shopping Sparks Joy? This is When You Really Need to Start Saving and Stop Spending!
You may say the joy of shopping is incomparable, but that’s definitely not true. What really sparks joy? Yes, buying something you’ve been eyeing for quite some time is satisfying and generally exciting, but how do you feel whenever you save more? As for millennials, they become happier than when they spend, a study found.
It turns out, saving is more than just making our finance happy, but us in general as well. Some may argue that spending is quite more enjoyable — imagine buying the stuff you want and taking it home, what a lovely sight! However, you’ll suddenly feel the so-called buyer’s guilt and think about the money you could have saved but ended up spending.
Benefits of Saving
If you’re not convinced, there’s proof that wise financial strategies could help your mood. A University of Arizona study found that those who shop less gain benefits way more than for their finance. Researchers analyzed data from 968 people, who are born from 1981 to 1996, when they started college. They carefully followed the respondents two years later when they were seniors and another two years after around ages 23 to 26.
Students were asked about their personal financial strategies like budgeting as well as their thoughts on materialism. Researchers particularly looked at the respondents’ eco-friendly choices to see how they fared with limited resources. Apart from these, they were also surveyed about their mental health, such as their well-being and their satisfaction in life.
On Mental Health
According to author Sabrina Helm, they found that their wise tactics greatly helped in the respondents’ satisfaction in the financial aspect. Researchers also found that it has benefits on the overall mental health of the participants because they reported less psychological distress and showed less depressive manifestations.
The doctor further explained that being financially wise, saving more, and spending less can give you peace of mind. This is especially helpful for students, who usually have financial problems. Apart from this, respondents who made sustainable choices were happier.
Specifically, participants who consumed less for the environment were more joyful than those who bought eco-friendly items. The same can also be said of the older generation. According to a 2014 research, the more a person becomes materialistic, the more the mental health suffers.
The expert said that taking on a consumerist approach can be avoided, which, in turn, can help anyone be happy. One step is to have a purchase diary where you can list down the things you spent money on during the week. This way, you can track how much goes into what and be able to reflect by the end of the week if you’ve splurged on something you might not need.
Dr. Sabrina also suggested having a shopping list of everything you need to avoid impulse buying. Remember when you’re at Target or the dollar store and you seem to need everything you see in every aisle? Chances are, you don’t have a list so you end up buying things you don’t actually need.
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