Relationship between money and wellbeing

Ice-cold beer - one of life's small pleasures

Ice-cold beer - one of life's small pleasures

Another new study (Quoidbach et al, 2010 – see details below) has been published on the topic of money and well-being, specifically, whether being wealthy enough to access the best things in life affects your ability to savour small pleasures.

The research suggests that wealthier individuals report lower savoring ability, and even being reminded of wealth produces the same negative impact on savoring as actual wealth. In fact, you don’t actually need to enjoy any peak experiences (such as spending time on a tropical beach holiday) for your savoring ability to be impaired – simply knowing that these peak experiences are readily available may increase your tendency to take life’s small pleasures for granted.

For a full review of the research and its implications, see Positive Psychology News Daily.

Reference:

Quoidbach, J., Dunn, E.W., Petrides, K.V. & Mikolajczak, M. (2010). Money giveth, money taketh away: The dual effect if wealth on happiness. Psychological Science 21 (6), 759-763.

Image:

Cold beer courtesy of niel schubert

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