Psychology of happiness: Buying time vs. material goods

Psychological research suggests that purchasing material goods often fails to provide lasting happiness due to a phenomenon known as ‘hedonic adaptation’. This process describes how individuals quickly return to a baseline level of satisfaction after experiencing the initial excitement of a new purchase, such as a car, phone, or clothing.

Studies cited from Inc. and the Proceedings of the National Academy of Sciences indicate that an intense focus on material possessions is linked to higher anxiety and lower life satisfaction. Conversely, spending money to ‘buy time’—by outsourcing unpleasant or necessary chores like cleaning, yard work, or grocery shopping—has been shown to increase life satisfaction. This trend of finding happiness through time acquisition has been observed even among individuals with lower income levels.