There has been quite a bit of research concerning money, materialism and happiness. This paper makes a good overview of current research on the subject and link

There has been quite a bit of research concerning money, materialism and happiness. This paper makes a good overview of current research on the subject and links to other papers : http://bss.sfsu.edu/rhowell/Pubs%20-%20PDF/Howell_Hill_JPP_060309.pdf http://bss.sfsu.edu/rhowell/Pubs%20-%20PDF/Howell_Hill_JPP_0... It's a really interesting topic. There is a diminishing return effect : when you are poor more money does make you more happy but after a certain point (where basic needs are satisfied) there is a drop off in the benefits of added money. From research it appears that materialism have a negative effect on happiness. This meta-analysis confirms it by looking at the existing studies on the subject : http://lilt.ilstu.edu/staylor/csdcb/articles/volume6/wright%20et%20al%201993.pdf http://lilt.ilstu.edu/staylor/csdcb/articles/volume6/wright%... The first cited paper suggests that spending money on experiences will yield a greater happiness than spending money on stuff.