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Does buying that luxury item actually lower your quality of life?

(EDITORIAL) Want to buy yourself a pick-me-up? Have you thought of all the ramifications of that purchase? Try to avoid splurging on it.

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In an era of “treat-yo-self,” the urge to splurge is real. It doesn’t help that shopping – or what ends up being closer to impulse shopping – provides us with a hit of dopamine and a fleeting sense of control. Whether your life feels like it’s going downhill or you’ve just had a bad day, buying something you want (or think you want) can seem like an easy fix.

Unfortunately, it might not be so great when it comes to long-term happiness.

As you might have already guessed, purchasing new goods doesn’t fall in line with the minimalism trend that’s been sweeping the globe. Being saddled with a bunch of stuff you don’t need (and don’t even like!) is sure to make your mood dip, especially if the clutter makes it harder to concentrate. Plus, if you’ve got a real spending problem, the ache in your wallet is sure to manifest.

If that seems depressing, I’ve got even more bad news. Researchers at Harvard and Boston College have found yet another way spending can make us more unhappy in the long run: Imposter syndrome. It’s that feeling you get when it seems like you’re not as good as your peers and they just haven’t caught on yet. This insecurity often arises in competitive careers, academics and, apparently, shopping.

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Now, there’s one big caveat to this idea that purchasing goods will make you feel inferior: It really only applies to luxury goods. I’m talking about things like a Louis Vuitton purse, a top of the line Mercedes Benz, a cast iron skillet from Williams Sonoma (or is that one just me?). The point is, the study found that about 67% of people – regardless of their income – believed their purchase was inauthentic to their “true self.”

And this imposter syndrome even existed when the luxury items were bought on sale.

Does this mean you should avoid making a nice purchase you’ve been saving up for? Not necessarily. One researcher at Cambridge found that people were more likely to report happiness for purchases that fit their personalities. Basically, a die-hard golfer is going to enjoy a new club more than someone who bought the same golf club to try to keep up with their co-workers.

Moral of the story: Maybe don’t impulse buy a fancy new Apple watch. Waiting to see if it’s something you really want can save your budget… and your overall happiness.

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Brittany is a Staff Writer for The American Genius with a Master's in Media Studies under her belt. When she's not writing or analyzing the educational potential of video games, she's probably baking.

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