Scientists agree spending on life experiences beats shopping to centre us and change our lives for the better
Material pleasures have their place, but for lasting satisfaction and enjoyment, nothing can beat adventurous activities like surfing or hiking, or travelling to the most beautiful parts of the globe and learning something new
Buying new clothes or gadgets may put a smile on your face, but the joy you get from owning them is superficial and fleeting. For true, deep and long-lasting contentment, experts recommend experiential purchases instead.
When Amira Morgan spends her hard-earned money, she is more likely to do so on experiences than on material goods. The thirty-something says that while material things have a place in her life, they don’t make her happy. Instead, she gets tremendous satisfaction and enjoyment from other things that challenge her, shift her perspective and expose her to new ideas, like travel.
“Experiences help form your identity,” says Morgan, who works in marketing and communications. “Experiencing new places and cultures, for instance, is what helps you evolve as a person and influences who and what you become. No material thing can do that.”
In addition to travel, Morgan also spends her money on wellness experiences and education, such as language courses. This is her way of investing in her own personal growth and long-term emotional well-being. Such experiences give her a positive buzz that she describes as “addictive”.
The science seems to back her up. A 2009 San Francisco State University study revealed that people who spent money on experiences rather than on “stuff”, felt happier and believed that their money was better spent.
Another study, carried out by researchers at the University of British Columbia and published in 2015 in Social Psychology and Personality Science found that, while the study participants derived more frequent momentary happiness from material goods, the momentary happiness they derived from experiences was more intense.