Wednesday, December 2, 2009

Upsides to the Down Economy/ Gifts


I just read two interesting articles regarding gifts and happiness. The first talked about a survey given to people of all income levels regarding the satisfaction they recieved from different gifts. Surprisingly, those who had gotten pricey gifts, such as sports cars, were less satisfied with life than those who treated themselves to: long walks, warm baths and bars of chocolate. The little luxuries resulted in "short bursts of positive emotions" which led to happiness. The pricier items, I'm supposing, lost some appeal after the novelty had worn off. The second article, actually a column by George Will, discussed the findings in a book (Scroogenomics) by an author from the Wharton Business school. His conclusion was that gifts that people buy for others are usually poorly matched to the recipient's preferences. In other words, the gifts we get from others are not what we would have bought for ourselves. While sometimes this can be a good thing (a day at the spa or box of Godiva chocolates), it can definitely also be a bad thing. I know I've gotten gifts that were either grabbed at the last minute, or re-gifted. A photo box from Walgreens and Hickory Farms knockoff gift box with bloated salami and cheeses, comes to mind. I've also been on the other end, dashing out at the last minute to get something... ANYTHING, for someone I forgot. Usually, these gifts end up being a waste of time and money - two things I hate to waste. One option that seems to be foolproof- giving a gift card- has a surprising downside. 10% of the gift cards purchased are never used! Billions of dollars are spent, but never redeemed.

So, what are we to conclude from these studies? #1 Expensive gifts don't make us happier and #2 Most gifts are a waste of money. What is the solution? Obviously, think about what the person wants or needs. Listen to the person when you're together to find out what they're dying to have or are interested in. If all else fails, just flat out ask them. I also have luck when I buy something for a friend, that I would like to get for myself. Certificates for services rendered (car wash, hug, homemade dinner) are always great and don't cost a lot, but if you give them, make sure you follow through and actually do it. This time, it's not just the thought that counts, but the action. And, Santa Baby, I wouldn't mind an expensive sports car underneath the tree, for me. I'

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