People who spend more money on experiences report higher satisfaction with their lives. Experiences provide more satisfaction than physical goods because experiences create a connection with others. Experiences also make us happier because they create memories.
You’re likely to enjoy your experiences more if:
- The experience brings your closer with others.
- The experience creates stories you’ll want to share again and again.
- The experience is aligned with who you are and who you want to be.
- The experience is a unique opportunity not easily available.
Satisfaction with experiences tends to increase over time, while satisfaction with things tends to decrease over time.
Dunn, Elizabeth & Norton, Michael (2014) Happy Money: The Science of Happier Spending