Everyone has heard money can’t buy happiness, but according to research, using money to buy experiences does seem to have a lasting effect on happiness.
Researchers cited several reasons they believed experiences provided longer lasting happiness than purchases in an article I recently read. One, when people buy experiences, they often spend a lot of time planning the experience {i.e. trips}. They spend time being happy “anticipating” the event, not just enjoying the event itself. Secondly, there isn’t really a barometer for the amount of money you should spend on an experience, so the whole keeping up with the Jones’s doesn’t really drag the experience down {where when you purchase a thing, it is easy to compare features, cost, etc.}. Finally, experiences typically provide a way for us to connect socially–which we already know makes us happier in the long run.
It’s no secret that I love to travel–so for me, using my money to buy that experience does make me happy. I know a lot of people who LOVE live music, and use their money to buy that experience–some love the outdoors, so a pair of hiking boots is the only real investment they make to “buy” their experience. Either way, I totally agree that experiences are where it is at.
What do you think? Has the money you’ve spent on experiences been worth it? Have experiences outweighed physical purchases, in terms of your happiness? What is the BEST experience you’ve ever spent money on? Can you remember how much it cost?
~Mavis
Janine says
My favorite money experience was the first tour I hosted to New York and London during Christmas break for a Theatre students and lovers. Although the students paid 2k I travelled for free as I lead the group. We saw 5 broadway play, toured various theaters. I even repeatedly kicked the back of Lynne Redgraves chair! (Total accident) 😉 the food, the people, shops and incredible live performances provided me with memories beyond a price tag.
Sara T says
I would way rather spend money on experiences vs. things. My husband is the complete opposite… So we have to compromise. The best experience we spent money on would probably be Hawaii… Japan was incredible too, but I didn’t spend money on it- free trips!! So it doesn’t count. We spent ~$1000 for the two of us for 10 days, backpacking in Kauai & then playing in Maui- including airfare! 🙂
Katy says
I absolutely agree that spending money on expeiences is worth it. I like to travel, hike, see new things, basically I like adventures. (even the small ones like trying new food is an adventure) I find that my experiences actually provide me a fuller perspective on what I do and do not think it is worth it to spend money on. So while I’ll shell out big bucks for a plane ticket, once I get there I know my preference is to search out the local food markets rather than to hit up a fancy restaurant. My preferences automatically balance my budget.
Of course I would love to have more money to spend on having these experiences, but since I don’t have an unlimited budget, I have to choose which of the trips/goods etc. that are most important to me.
I also think seeing and experiencing the world outside of your home town/country provides a better monitary perspecitve. Seeing people get by on much much less money than you actually have seems to humble you to make better less frivilous choices all around.