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You’ve heard it’s better to spend money on experiences versus “things”, but why?READ THE ARTICLE
The best of both worlds: While many believe they will derive more pleasure from material possessions like a new technology gadget compared to experiences like a family vacation, post-purchase evaluations consistently favor experiences. However, a study suggests that some items combine both materialistic and experiential happiness.
A group of participants assessed various products based on the pleasure they anticipated from owning them and the happiness they experienced post-purchase. The chart revealed three types of products: Those that bring materialistic pleasure (smartphones), those that generate experiential happiness (vacations) and those that offer both (swimming pools). These dual-pleasure products provide material pleasure due to their status and aesthetic appeal, but also offer ongoing experiential happiness through their use.
What would you include on your list of highest happiness-inducing items? Whether it’s material products, experiences or items that combine both elements, the lesson here is to utilize your money as a tool to elevate the purpose, meaning and happiness in your life.