November 05, 2008

Money and happiness

In one study, a psychologist named Miriam Tatzel, PhD, of Empire State College, State University of New York, compared peoples’ spending habits with their sense of well-being.

Her study of 329 students examined what types of spenders are the happiest. She observed that there are generally four groups of people with different combinations of the trait frugality and materialistic.

1. First group: frugal and materialistic. They look for sales on high-price items.
2. Second group: not frugal and materialistic. Big spenders who rack up credit card debt to buy, buy, buy, and are the least happy.
3. Third group: frugal and not materialistic. Financial planner Melvin Esteban of Motivating Minds would most likely call people in this group “Ilokanong Intsik”, which is what he calls himself proudly
4. Fourth group: Not frugal and not materialistic. People who pay little attention to prices and don’t care what others have. They are the happiest.

Any violent reactions?

Source: http://blogs.inquirer.net/moneysmarts/2008/11/04/the-psychology-of-spending/

I'm between the third and fourth group perhaps.

2 comments:

Anonymous said...

Good afternoon Rianne , I discovered your blog through Naomi's while googling for cornik and Paoay. Don't laugh because buying enough to stuff my box with to bring back to the states is number two in my to do list next to visiting my lilang's grave. Now, to the issue at hand. I think I fall in the same category as you are. However, there are things one is passionate about that would lead them to fall in the first or second group. I live with my motto that "Passion sometimes gets in the way of our intelligence!"

Rianne said...

well, yes indeed and for a lot of things.:-)