Study : Buying experiences, not possessions, leads to greater happiness
Excerpts:
A new psychology study suggests that buying life experiences rather than
material possessions leads to greater happiness for both the consumer
and those around them.
The study demonstrates that experiential purchases, such as a meal out
or theater tickets, result in increased well-being because they
satisfy higher order needs, specifically the need for social
connectedness and vitality — a feeling of being alive.
Experiences also lead to longer-term satisfaction. “Purchased
experiences provide memory capital,” Howell said. “We don’t tend to
get bored of happy memories like we do with a material object.
“People still believe that more money will make them happy, even
though 35 years of research has suggested the opposite,” Howell said.
“Maybe this belief has held because money is making some people happy
some of the time, at least when they spend it on life experiences.”
http://www.eurekalert.org/pub_releases/2009-02/sfsu-ben013009.php