Your Money
When it comes to spending, both goods and experiences provide immediate enjoyment, like driving a new car or enjoying a meal at a favorite restaurant. These purchases can also create lasting memories, but which type of spending yields the most enduring happiness?
Some argue that buying ‘stuff’ creates more memories because items last longer. For instance, a new car can be enjoyed for years, while a vacation is short-lived. However, evidence suggests the opposite: while tangible goods may physically last longer, the enjoyment and memories they provide can fade over time. You might remember your first ride in a new car, but not the 500th. Experiences, however, tend to increase in value over time; a week-long vacation can create a lifetime of memories.
Additionally, physical goods are often enjoyed alone, whereas experiences are usually shared, creating stronger relationships and shared memories.
Either way, spending that generates lasting memories—whether through experiences like skydiving or visiting a new country, or physical items that facilitate memorable experiences—can be one of the best investments for long-term happiness.
How much is a memory worth?
by Miek Troxell
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