Tools & Tips
Experiences make us happier than possessions

We're all familiar with the adage that says money can't buy happiness, but if you're going to spend some money, WHAT you buy may affect your level of satisfaction. According to a new study, the initial thrill of buying something new - a new car or a new pair of suede boots - fades over time (about six to eight weeks after the purchase), whereas experiences continue to provide happy feelings long after the event occurred. Ryan Howell, assistant professor of psychology at San Francisco State University, conducted a study that asked participants about recent purchases that they intentionally made in order to make themselves happy. The study found that while most people were generally happy with their purchases no matter what it was, those who made purchases that involved experiences (ie. a weekend trip or concert tickets) tended to show a higher level of satisfaction at the time and after the experience had passed. How can this be?! (I LOVE my Prada backpack! Kidding, kidding.) Mr. Howell observed that experiences, unlike purchases, led to a sense of relatedness to others - getting closer to friends and family. Buying an extra movie ticket for your friend allows you to fulfill the human need for social bonding while having the experience yourself. Another reason for increased happiness in experiences was that people felt a greater sense of vitality or "being alive" during the experience and in reflection. Howell comments that while a new computer is nice, it isn't going to make you feel more alive. In these tough economic times, where many of us have little extra money, perhaps this new information will change the way in which we choose to spend our money (and our time). To learn more about Mr. Howell's study, read the entire article here.