In Times Of Financial Stress, Buying Makes Us Less Happy
President Biden is touting his strong economic performance but the public disagrees; his approval rating is in the 30th percentile because an expanding economy as framed by politicians still means high inflation to people paying taxes. The psychological impacts of bad economic performance are evident also; when times are good, spending makes people happy. When times are bad, spending is stressful. Customers even leave worse reviews, according to a new paper.
In the work, over 40 studies measured people’s perceptions about their financial situations and recent purchases. Whether they bought a…