Dr Gilovich and Killingsworth, in the journal Psychological Science, along with Cornell doctoral candidate Amit Kumar, expanded on the current understanding that spending money on experiences “provide[s] more enduring happiness.”
Forget “stuff”, invest in experiences … and live the anticipation!
Anticipation of an event is also an important driver of that happiness; whether the benefit of spending money on an experience accrues before the purchase has been made, in addition to after.
Basically, they say it’s best to live in anticipation of an experience when you can’t live in a moment. Experiential purchases (like concerts, strips, movies, etc) tend to outshine material purchases because the utility of buying anything really starts accruing before you buy it.
“… You can think about waiting for a delicious meal at a nice restaurant or looking forward to a vacation,” Dr. Kumar said, “and how different that feels from waiting for, say, your pre-ordered iPhone to arrive. Or when the two-day shipping on Amazon Prime doesn’t seem fast enough.”
In other words, waiting for an experience apparently elicits more happiness and excitement than waiting for a material good who is more likely fraught with impatience than happy anticipation.
Focus on your happiness and explore the world
Focusing on your life experiences can not only bring you more life satisfaction and happiness but it’s also more bankable for your future than those expensive Louis Vuitton shoes. Business Insider found that CEOs around the globe look for their employees to achieve several familiar things in their 20s, and yes, you’ve guess it, traveling and it’s thinking broadening abilities is one of them.
One good thing is to always remember that, when you 90 years old and on your deathbeds you’ll probably not cherish that new iPad or gold watch that much. You’ll be satisfy by the memories and moments you created with the people who made an impact on your lives.
So go ahead, treat yourself once in a while with beautiful things, but don’t forget to make your bigger investments toward making your life unforgettable and worth living, whether you prefer to explore the world alone or sharing your experiences with your loved one.
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