Little things that make you feel rich

By MP Dunleavey

Last year I attended a business conference, stayed at a swanky hotel and fell in love with the shampoo there.

I liked that shampoo (and conditioner) so much that when I got home, I ordered a bottle of each online. They cost about $27 apiece, plus shipping, which added up to a Ridiculous Amount of Money.

And it was worth it. Every time I washed my hair I felt like a princess, back at that ritzy resort.

When I admitted this to a neighbor, she confessed that being able to get crushed ice from the dispenser on her fridge made her feel "like a millionaire."

• Talk back: "What makes you feel rich?

Somehow these little luxuries -- even when they don't cost a mint -- have the power to make you feel like a million bucks. Why is that? And what does this mean for our collective financial well-being, especially in the middle of this dratted recession?

What floats your boat

When I posed the question "What makes you feel rich?" on the Women in Red message board, the answers were funny and wonderful.

One guy wrote, "I sure do enjoy petting a nice dog." A woman posted, "Having coffee that I didn't make at home."

One couple, who are historic re-enactors, say they live happily without many so-called modern conveniences -- and spend less. "We're richer, literally and figuratively," wrote poster "Keriamon."

(You can read Keriamon's full comments and a few more of my favorites at the end of this column.)

• How much money is enough?

A poster who goes by "mmp1971" took issue with my question. "Why do we have to feel rich? What about happy, free, loved, content, satisfied, grateful for health? As long as I'm feeling these things I feel good. I have no desire to feel 'rich.'"

As it turns out, the words you choose may be telling (indeed, why do we rely on metaphors of wealth?), but studies indicate the pleasure itself is important nonetheless.

What 'rich' means to your brain

According to the latest research, savoring these little luxuries does indeed enrich your life.

And thanks to the recession, many of us are newly conscious of and willing to savor even basic blessings, which has a lot to do with the way your brain values what's going on around you, says professor Paul Zak, the director of the Center for Neuroeconomics at Claremont Graduate University in Claremont, Calif.

"The brain is very adaptive in different environments," Zak says. Also, he says, the brain tends to be extremely sensitive to relative differences.

In other words, studies show that if you give someone $1,000, an additional $50 won't generate much excitement. But if you give someone $50 and then add $1,000, "you're likely to see a lot more activation in the reward areas of the brain," he says.

In his eyes, this relativism could infuse the recession with an appealing upside for many of us who might otherwise feel a tad deprived.

"Once you're in this period of perceived greater scarcity, your basic level of comparison changes," Zak points out. "Instead of saying, 'I didn't get that 20% bonus,' you're more likely to say, 'But I still have a job!'"

Thus, knowing that you can't go on a shopping spree or replace your car may stoke feelings of frustration or disappointment. But in the absence of these bigger material thrills, smaller -- even ordinary -- treats suddenly take on a fresh glow.

Continued: Little luxuries add up

 1 | 2 | next >