The exploring of a British Cambridge University confirmed that the money buy happiness. Turns out money does buy you happiness, but only if you’re spending it right.
They believe that when money is spent on buying items tailored to the personality of the consumer, then happiness is attainable outcome.
The University of Cambridge study examined approximately 77,000 U.K. bank transactions of 625 people and categorized purchases in different personality traits buckets — for example, eating out at a pub was put in the extroverted and impulsive spending category.
Then it compared a person’s spending habits with their personality. If they matched up they were more likely to report satisfaction.
According to the survey, happiness is greater when purchasing something long term, like when you spend money on travel, cultural superstructure, attending an event, and are less happy when people buy food, clothes or cosmetics.
Researchers say that the money fulfil the psychological needs of people.