Material acquisitions don’t boost life satisfaction unless they provide us with a novel experience or bring our loved ones together. Otherwise, the more materialistic we are, the less happy we become. We also know that we shouldn’t be envious of people with high incomes who exhibit expensive tastes. After all, they aren’t necessarily happier. And according to Thomas J. Stanley and Sarah Stanley Fallaw’s research, most people with a lot of expensive stuff don’t have a lot of wealth. In many cases, they swim in debt. And debts bum us out.
