The happiest shoppers are people who aren't hung up on money or things - they would rather spend on experiences, like dining out or traveling.
Those people are "experiencers," as Miriam Tatzel, PhD, of Empire State College in New York calls them.
To reach the conclusion, Tatzel asked 329 college students to complete surveys about their shopping habits and happiness.
And experiencers, who spend freely on experiences, such as good food or travel, but not materialistic.
Experiencers are the happiest; big spenders are the least happy, and have the most credit card debt, Tatzel said, reports CBS News.
The study has been presented in Boston at the American Psychological Association's annual conference.