The Value of Experience

Buying Experiences, Not Possessions, Leads To Greater Happiness

Can money make us happy if we spend it on the right purchases? A psychology study by Ryan Howell at San Francisco State University 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.

These findings support an extension of basic need theory, where purchases that increase psychological need satisfaction will produce the greatest well-being,” said Ryan Howell, assistant professor of psychology.

Participants in the study were asked to write reflections and answer questions about their recent purchases. Participants indicated that experiential purchases represented money better spent and greater happiness for both themselves and others. The results also indicate that experiences produce more happiness regardless of the amount spent or the income of the consumer.

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.

NLP training is truly one of life’s great experiences as long as you choose the right provider who is truly committed to making your experience the best it can be. Learn how to experience your own life to the full knowing that that in the future you will be able to look back and really know that you invested wisely in your own life. But don’t take our word for it. Look at our video testimonials where individuals speak openly and candidly about how they valued their experience with Field & Field.

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