Constantly checking the stock market does not bring happiness.

Today, I found myself unable to resist the urge constantly to check the stock market. I’m no finance whiz, so it’s not as if the Dow Jones Industrial Average number is terribly meaningful to me, other than to know that up is good, down is bad, and very down is very bad.

When I was writing in a coffee shop, I kept checking my laptop. When I was working out at the gym, I kept looking at the screens of people watching CNBC. When I got home, I kept checking.

I realized that this wasn’t productive or helpful. In many cases, it’s important to read bad news, because it’s necessary to being an informed citizen. But in this case, I was a rubbernecker on the economic highway, unable to stop myself from slowing down to watch the wreck.

As a consequence, I was making myself unhappy. Each time I saw the bad numbers, I got hit by a wave of anxiety – what did this mean? At the same time, I was frittering away my valuable time, and to no purpose; this kind of constant monitoring wasn’t telling me anything that I couldn’t find out at the end of the day. I’m not working in the market myself.

Nevertheless, even though I could see that this behavior wasn’t helpful, especially from a happiness-project perspective, I just couldn’t resist. On a brighter note: as I write this, the news has gotten better than it was several hours ago. I know that because I just checked. Again.

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Comments

[Suzanne Carter, Ph.D.]

Here's a crazy argument: Constantly checking the stock market does not bring happiness ... even when the market is going UP.

This claim comes out of some thinking about drivers of happiness, which I've read here (thank you :)) and in positive psych literature (aren't gratitude and kindness to others the weightiest drivers?) ... and about intrinsic and extrinsic motivation (not sure how intrinsically rewarding watching the market values would be to people other than Warren Buffett).

Watching the market go up, I'd wager, may bring about positive mood, making one more confident and willing to spend money, but that positive mood wouldn't sustain.

[jane]

I'm dealing with this too. I find myself hitting refresh every couple minutes. It's especially hard to ignore it when everyone at work is all atwitter.

[JP]

We had a nice 500pt swing back up from -800pts down. That's a reason to be happy. A -370 day is better than a -800 day!

[Gabrielle H]

I just watch the finance news in the evening. These days it basically consists of watching storm clouds gather over the US and our own Federal Treasurer Mr. Swan standing there with a maniac grin and telling us that everything-will-be-alright.

Not very resureing when he looks like he hasn't slept well in weeks.

[Shannon Nora]

It's also a good idea to avoid constantly checking your 401k balance. It's hard to resist, but don't panic and move your money or stop investing. The people who lost big money in the great depression are the ones who panicked and sold.

[Roxy]

I now have two things that I am addicted to constantly checking and reading on the internet:
1. Wall Street, for fear of losing our life savings.
2. The Republican Vice Presidential candidate, for fear of her being 'a heartbeat away from becoming the President'.

[Ashlee]

I really enjoy reading your blog and have taken away many positive approaches and mindsets.

I just had to comment to let you know that this post was a great one - I love to see your human side! You realize that you are engaging in non-happiness producing behavior and while you know you need to change it, you just aren't. But you will. And we are on the road to changing our behaviors too. But every once in a while...we just have to compulsively check on something.

Happy week to you!

[thatcoolbroad]

You've hit on a great point here: stop doing things that make you unhappy.

I realized a while ago that I don't have the stomach to manage our stock portfolio...so now, it's my husband's job. He's more level-headed and is less emotional, so it made sense for him to take on that responsibility.

I also don't watch political news coverage anymore. I've already made up my mind who I'm voting for in November and when I hear political pundits tear apart my candidate, it really upsets me. So I just don't do it (and that includes following the latest polls).

[James]

I've been watching that roller coaster ride for a while now. I was even considering buying Wachovia stock last week. But yeah it is actually the opposite of happiness.

I think it's really distracting me and a lot of other people and I agree...we should all stop for a bit.

[Art Gonzalez]

During this time I recommend everyone to meditate on this scripture:

Matthew 6:25-26 AMP "Therefore I tell you, stop being perpetually uneasy (anxious and worried) about your life, what you shall eat or what you shall drink; or about your body, what you shall put on. Is not life greater [in quality] than food, and the body [far above and more excellent] than clothing? Look at the birds of the air; they neither sow nor reap nor gather into barns, and yet your heavenly Father keeps feeding them. Are you not worth much more than they?"

Many blessings to all,

Art Gonzalez
Check my Squidoo Lens at: http://www.squidoo.com/quantumknights