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Secret to Happiness: Spend Money on Experiences Not Things

October 21, 2015

If you’re wondering whether to spend money on the new Apple Watch or a yoga retreat? You may want to go for the latter, as it has been proven that experiences add much more happiness value than things.

via David Wolfe:

According to researchers from San Francisco State University, people understand that this life we get to live, is about creating memories and not the glitz and glamour of trendy clothes and technology. But again, it’s easy to get wrapped up in purchases that we will ultimately regret.

If we think about it, when we’re 90 and on our death beds, will we cherish that new iPad or gold watch or the memories and moments we created with the people who made an impact on our lives?

Focus on your happiness, not what makes you popular

In this day and time, many people make decisions based from society’s influences, making that fancy car and hip sunglasses not only more expensive than need be, but also attractive and trendy to the world.

But who cares about what the world thinks? Are we really willing to burn holes in our pockets in exchange for an Instagram post with 1,000 likes?

We are more valuable as a product of this society, than the human-made products that we desire (and never really need). I can’t say I don’t like nice things, and it’s fine to reward yourself, but our bigger investments should go toward making life unforgettable and worth living versus having that temporary satisfaction from things.

Dr. Thomas Gilovich is a psychology professor at Cornell University who has been studying the link between money and happiness. He told Fast Company:

Our experiences are a bigger part of ourselves than our material goods. You can really like your material stuff. You can even think that part of your identity is connected to those things, but nonetheless they remain separate from you. In contrast, your experiences really are part of you. We are the sum total of our experiences.

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