Why You Should Spend Money To Collect Experiences, Not Material Things

Dec 03, 2018 by apost team

Many of us have limited funds after we pay our bills and take care of daily expenses. When this happens, you want to make sure that you are spending your money on things that really count. You need to make sure that the amount of money you do have left to spend on yourself is used on what really makes you happy, according to science.

A study, "The asymmetric connection between money and material vs. experiential purchases" was conducted by a psychology professor named Dr. Thomas Gilovich, who works at Cornell University. He says that spending money on material things will only make you temporarily happy.

It's is because something new is exciting at first. However, once the novelty wears off, we get used to it, and it becomes normal.

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While experiences may not last as long as a physical object, they actually make us happier in the long run. Here are the reasons why this is so true:

Having an experience becomes part of our memory and identity. We can think of ourselves as an accumulation of the things that we have done, what we have seen, and the places we have been. Buying the latest iPhone will not change who you are as a person while taking a road trip across the country certainly will.

Comparisons don’t matter as much when it comes to experiences. If one person has the latest phone version while another has the older version, this can be compared easily. But comparing an experience is not the same.

Anticipation is also a big part of the whole deal. Anticipating owning a physical object can lead to impatience and frustration, while anticipation of an actual experience leads to enjoyment and excitement. Enjoying your experience will last from the time you plan it to long after it is over.

Do you feel the same way? Are experiences better than material possessions? Tell us your thoughts in the comments and then show this article to others who need to hear it!