Spend on Experiences Rather Than Things
If you’re looking for more sustained happiness, it’s better to spend your money on an experience, such as a bucket-list safari vacation, rather than a thing, such as new hardwood floors for your condo.
According to a research paper published by scholars at Harvard, “one reason is that we adapt to things so quickly. After devoting days to selecting the perfect hardwood floor to install in a new condo, homebuyers find their once beloved Brazilian cherry floors quickly become nothing more than the unnoticed ground beneath their feet. In contrast, their memory of seeing a baby cheetah at dawn on an African safari continues to provide delight.”
According to the research paper, another reason experiential purchases provide more happiness is that we derive joy from anticipating and remembering experiences, but we usually only get happiness from things while we’re actively using them.