![]() ![]() Therefore we need to avoid frequently repeating the same action to get the same kick. #5 Rotate Your Treats: We want to avoid habitation and get the full benefit from each purchase or experience. Exercise, educational resources or hobbies such as writing are all examples of this. When you make a purchase, focus on possessions or experiences that have a slow-burning return on investment.įor example, reading a book will give you a slow release of feel-good neurochemicals in addition to providing an education gain. #4 Invest In Yourself: Like investing we want a long-term return on investment from what we spend money on. This is the opposite of buying an expensive bottle of wine on an evening out, where you benefit only once. #3 Will You Benefit From Repeat Use: Some material purchases such as video games can give you a dopamine kick each time you use them. #2 Ask yourself why: ask yourself why you are making these purchases and if the last time you made a similar purchase how long did it bring you happiness? Always try to predict the happiness that might be generated from your next purchase. If you are not aware of the habits and behaviours driving your finances you can’t change them. #1 Are you aware of your spending: The first step off maintaining a healthy spending lifestyle is to start consciously spending. 5 Ways To Jump Off The Hedonic Treadmill: Therefore we can now build a practical approach for how to stay off the hedonic treadmill. The hedonic treadmill can damage our psychological and financial wellbeing. Now that we’ve conceptualised and developed a model of negative spending, we can find ways to break it down. ![]() This will potentially be a result of the hedonic treadmill and chasing an unattainable lifestyle. In fact, 40% of people and 25% of the UK workforce worry about money. Unmotivated – Ultimately you will be put off from saving money because you will perceive money as a means to run on the exhausting hedonic treadmill.The short-termism of hedonism gives you a distorted view of what financial success looks like. Delay – You ultimately delay your financial freedom and savings goals.Exhaustion – As a result of trying to keep up with the latest products and in having to earn more money to chase the next hedonic purchase.Regret – You may feel guilty or regretful at how you spend your money.Disappointment – with the unfulfilling nature of your purchases.Running full speed on the hedonic treadmill all the time and chasing hedonic pleasures is a fast way to burnout your wellbeing and finances. Please note: this article contains affiliate links Andrew | Mr Money Side Up The Damaging Emotional and Psychological Fallout ![]() In essence, we should try to minimise the lows. Rather than chasing constant hedonism, we should attempt to build a positive default state that we can return to following bursts of pleasure. However, as you will have annoyingly experienced, this momentary burst of positive neurochemicals always wears off, resulting in a return to the default state. It’s why people go shopping and why millionaires buy new yachts. Buying a new gadget for example of hedonic happiness. As humans, we get an endorphin rush for acquiring new things or novel experiences. Hedonism is the pursuit of pleasant sensations. Our sense of happiness is based around a similar feedback loop. This is due to the process of habituation. Kind of like how if you chew gum, over time the flavour goes from a distinct taste to bland and indistinguishable. The hedonic treadmill also known as hedonic adaptation is a natural psychological process. This makes sense, it’s like life’s contrast. You will always have your ups and your downs, and being somewhere in the middle for the majority of the time is actually quite healthy. The research tells us that the fleeting nature of happiness is an inherent human condition. It can provide a useful model for how quickly happiness like this fades after a purchase. The hedonic treadmill is a behavioural psychology term that provides a useful insight into our financial wellbeing. ![]()
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