Ways Your Money Habits Make You Sick: Being Stingy with Gifts

If you refuse to chip in for a retirement gift for a co-worker and “forget” to buy a birthday gift for your best friend, it could impact your mental health. “There are negative health consequences [associated with] being stingy,” notes Lara Aknin, a Ph.D. candidate at the University of British Columbia. Aknin’s research, published in the Journal of Health Psychology, found that people who spent money on themselves reported lower levels of happiness than those who spent money on others.

Solution: Generosity doesn’t have to break the bank. Loosen the purse strings a little bit to treat a co-worker to a cup of coffee, or pick up the tab next time you meet a friend for drinks.

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