The Experience is Worth It

Wed 02 Jun 2004

The following brief article appears in the June 2004 edition of Readers' Digest. We agree!

"Trying to decide between a new TV and a trip overseas? Get on that plane, says a study published in the Journal of Personality and Social Psychology that found spending money on experiences made people happier than spending money on material possessions. The 1279 adults were asked about purchases they'd made with the intention of increasing their own happiness; 57 per cent said spending money on things like adventure holidays and concert tickets made them happier than buying clothes and appliances, even accounting for price differences. 'A common justification for spending on material things is that you have something to show for it,' stays study co-author, psychologist Leaf Van Boven. 'Although experiences are physically fleeting, they are mentally more enduring. They become part of who we are in a way that possessions do not.' Plus, experiences don't clutter cupboards." (Margie Borschke).