Experiences beat material goods in happiness stakes !
‘Spending money on experiences makes us happier than spending money on goods’. So says a recent report (kumar, 2020).
Published in the Journal of Experimental Social Psychology, the focus of Kumar’s 2-part study was on immediate rather than long-term effect. People were questioned about their feelings of happiness whilst they were actually ‘in-the-moment’ of using the items they had purchased – such as clothing, furniture or gadgets, or par-taking of the experiences they had bought – such as entertainment, travel or dining out. Kumar found that people taking part in experiences consistently reported greater happiness than those with the material goods, regardless of which particular type of goods or experiences they were.
Given that past studies had already shown greater feelings of well-being in both the anticipation and remembrance of experiences, rather than of material goods, Kumar’s overall conclusion was that if we want to enhance our feelings of wellbeing, we should favour experiences over goods.
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Personally, I absolutely agree with Kumar. For me, the time I spend planning a trek, walking those miles, then poring over the photographs and remembering, gives me so much more pleasure than buying, using and remembering the latest gadget. Although, of course, those gadgets may enhance the enjoyment of the trek – which may muddle the situation somewhat!
What do you think – do you agree? Do you find this report suprising? Let me know…..
Comments
Yes, I completely agree. The gratification which I get from experiences is much longer lasting than the transition satisfaction of new ‘stuff’. It is also something to share and so improve the lives of others. My grandchildren spend hours pouring over my photograph albums, it’s one of their favourite things to do at Nana’s.
Thanks for your comment Val.
Your example really demonstrates how the ‘happiness’ benefit of an experience is not limited to the person involved – it can be spread to others. In your case, your grandchildren. Wonderful!
I agree on the whole, and have personally generally found experiences to bring a greater sense of fulfilment or happiness, but wonder if one has to have achieved a certain level of welfare before this applies?
A valid and important point Verity.
Revisiting the literature, I found that the researchers qualify the results as being ‘once basic needs are met’. The exact definition of ‘basic needs’ is not clear, nor is it stated whether those needs differ according to society, age, or economic trend. However, it is reported that once those basic needs have been met, even the more modest experiences – such as having coffee with a friend – give a greater sense of happiness than that gained from the purchase of material goods. – So at least we know that the happiness benefit is not limited to expensive pursuits! It’s an interesting and active field of research.