Why You Should Spend Your Money On Experiences, Not Things

When you work hard every single day and there’s only so much money left after your regular expenses, you have to make certain it’s well spent. Spend your limited funds on what science says will make you happy.

The Paradox Of Possessions

A 20-year study conducted by Dr. Thomas Gilovich, a psychology professor at Cornell University, reached a powerful and straightforward conclusion: Don’t spend your money on things. The trouble with things is that the happiness they provide fades quickly. There are three critical reasons for this:

  • We get used to new possessions.What once seemed novel and exciting quickly becomes the norm.
  • We keep raising the bar. New purchases lead to new expectations. As soon as we get used to a new possession, we look for an even better one.
  • The Joneses are always lurking nearby.Possessions, by their nature, foster comparisons. We buy a new car and are thrilled with it until a friend buys a better one—and there’s always someone with a better one.

“One of the enemies of happiness is adaptation,” Gilovich said. “We buy things to make us happy, and we succeed. But only for a while. New things are exciting to us at first, but then we adapt to them.”

The paradox of possessions is that we assume that the happiness we get from buying something will last as long as the thing itself. It seems intuitive that investing in something we can see, hear, and touch on a permanent basis delivers the best value. But it’s wrong.

Credit: www.forbes.com

3,129 total views, 4 views today

No Comments Yet

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Do NOT follow this link or you will be banned from the site!