1/4/2024 0 Comments Spent money on othersIn experiments he’s run, it bugs people a lot. “People think that experiences are only going to provide temporary happiness, but they actually provide both more happiness and more lasting value.” And yet we still keep on buying material things, he says, because they’re tangible and we think we can keep on using them. “What we find is that there’s this huge misforecast,” he says. Howell found that when people looked back at their purchases, they realized that experiences actually provided better value. So, although they’ll occasionally splurge on a big vacation or concert tickets, when they’re in more money-conscious mode, they stick to material goods.īut in fact, Prof. In a study published earlier this year, he found that people think material purchases offer better value for the money because experiences are fleeting, and material goods last longer. Howell, associate professor of psychology at San Francisco State University, decided to look at what’s going on. Numerous studies conducted over the past 10 years have shown that life experiences give us more lasting pleasure than material things, and yet people still often deny themselves experiences and prioritize buying material goods. Experiences Are Worth More Than You Think With that in mind, here’s what the latest research says about how people can make smarter use of their dollars and maximize their happiness.
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