When Money Does Buy Happiness

Which do you think would make you happier—spending $100 on a night out or spending $100 on a personal possession like clothing? The night out is fleeting. It might just be a few hours of a good time. You’d probably wear the clothing quite a few times. So you might think that material purchases outweigh experience spending, but you’d be wrong.

Turns out there have been some curious psychologists who have studied our indulgent spending. Studies by Van Boven and Gilovich (2003) and Leonardo Nicolao have looked at spending to conclude what kinds of purchases make us happy. What they found was that experiential spending made us happier for a longer time.

Experiences tend to:
o Improve with time as we forget about all the boring moments and just recall the highlights.

o Take on symbolic meanings, whereas those clothing is just clothing.

o Be very resistant to unfavorable comparisons: a wonderful moment in a restaurant is personally yours and difficult to compare, but all too soon your clothes are likely to look dated in comparison with the new fashions.

However, none of the studies considered whether free experiences bring more happiness than expensive ones. Though my guess would be that they do just as getting a great bargain makes helps us enjoy the item more.

In conclusion, these studies help me justify purchasing the more expensive seats to the upcoming Leonard Cohen concert at Red Rocks.

Don't Sell Your Stuff, Rent It

We all have stuff around the house that we don't use, right? But sometimes it's hard to part with either because you think there's a chance, no matter how slim, that you'll use it again. Meanwhile, it's taking up space and just not earning it's keep.



Well it's time to dust off that lazy mitre saw, oil that bicycle chain and put grandma's china to work. Yep, your stuff could earn you money!


Borrowing the principal of Craigslist, Zilok lets you list and rent your stuff online. It's an that hasn't quite caught on. Zilok launched in 2007 and operates in the United States, France, Belgium, the United Kingdom and the Netherlands. There is still just slim coverage. A search for items available in the Golden area were mostly baby items, some power tools, and camera equipment.


Zilok's promotion has been picking up. They've gained the attention of PC Magazine and other large publications. The Huffington Post called Zilok"a green solution to overconsumption and the sagging economy."


Is Zilok one of those simple genius ideas? Of course anyone can go to the local rental company and find what they want. And there is the risk having your personal property damaged or not returned. But, still it seems like a great idea except that it's not craigslist.


Craiglist started as a hobby by Craig Newmark in early 1995. It was a simple email list of SF events. Zilok was created to be a business and doesn't have the grassroots, viral momentum. Still the idea that those excess gadgets around your home could make money is enticing. So I gotta wish the best to Zilok (weird name though, sounds like something from Battlestar Galactica--or whatever space fantasy).