Gary Martin: Pursuit of happiness is fraught

Money cannot buy happiness, though that does not stop us from breaking the bank on the occasional lavish purchase of a big-ticket item, only to likely regret the decision soon after.

Why not ask a family member, friend or colleague about the priciest purchase they have made that is now gathering dust?

One might mention the home gym set-up bought during the pandemic that is now gathering dust in the garage.

Someone else might recall buying a professional camera only to find they lack the time to engage with this new hobby.

Even those who are not cashed up decide to purchase items on credit, hoping to bridge the gap between reality and the lifestyle they aspire to.

Yet the shine of new purchases often dims quickly.

People tend to return to the same level of happiness once the initial thrill fades away.

The owner of the electric guitar might discover that, despite their initial enthusiasm, the reality of regularly learning and practising does not align with their lifestyle or commitment level.

In the same vein, the drone, initially bought with visions of capturing stunning aerial photos, might see less airtime than expected because of the complexities and restrictions involved in flying it.

The realisation that these purchases do not permanently change one’s emotional state can be unsettling.

It is essential to weigh up the cost before committing to a big-ticket purchase.

Seek input from family and friends, consider if the luxury item’s value justifies the number of hours you’ve had to work to pay for it and contemplate whether it’s essential or merely desirable if you’ve managed without it so far.

The pursuit of happiness through material wealth is a seductive path but fraught with pitfalls.

Happiness, often found in the simplest of experiences and relationships, cannot be bought, no matter the price tag.

Professor Gary Martin is CEO of AIM WA and a workplace and social trends specialist