Being Happier by Spending Less

November 9, 2010 Katharina Lochner
Being Happier by Spending Less

The Concept of Minimalism

More and more people literally simplify their lives by getting rid of belongings, but also by spending less money on material goods. This enables them of working less and thus gives them more time for social contacts. Research findings indicate that spending money on experiences rather than on material things makes people happy, and so does reflection before buying something and not comparing one’s own financial status to other people’s.

These recent research findings reflect what has been found many times: Once basic needs like are covered, material wealth does not promote happiness any further. What makes people happy is rather close social relationships.

About the Author

Katharina Lochner

Dr Katharina Lochner is the former research director for the cut-e Group which was acquired by Aon in 2017. Katharina is now a researcher and lecturer at the University of Applied Sciences Europe in Iserlohn, Germany. In her role at cut-e, she applied the research in organizational and work psychology to real-world assessment practice. She has a strong expertise in the construction and evaluation of online psychometric tools.

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