We know that the best predictor of human happiness is human relationships and the amount of time that people spend with family and friends.
We know that it’s significantly more important than money and somewhat more important than health. That’s what the data shows. The interesting thing is that people will sacrifice social relationships to get other things that won’t make them as happy — money. That’s what I mean when I say people should do “wise shopping” for happiness.
Another thing we know from studies is that people tend to take more pleasure in experiences than in things. So if you have “x” amount of dollars to spend on a vacation or a good meal or movies, it will get you more happiness than a durable good or an object. One reason for this is that experiences tend to be shared with other people and objects usually aren’t.