The Place


Funding your Future: Experiences versus Things

Posted at 2:39 PM, May 17, 2017
and last updated 2017-05-17 16:39:06-04

This month’s focus is to Eliminate Debt, but with that comes the realization that it’s important to not actively acquire more. When budgeting it’s important to make room for “the wants” because it makes it easier to stick to your budget.

What should we spend this “fun money” on?

  • I suggest EXPERIENCES not THINGS.
  • We think items last longer = longer happiness, but that is not true

Why don’t things keep us happy?

  • Adaptation: they become the norm
  • We raise the bar and want better
  • Keeping up with the Jones: it’s easier to compare material possessions, impossible to compare feelings

Why does Happiness from Experiences last longer?

  • The anticipation of an experience can bring happiness and you are able to look forward to something with excitement.
  • Experiences become part of who you are and you can recall the happy memories easier.
  • Harder to compare to others or past experiences, usually pleasant memories increase with time, even for negative experiences
  • Connection through shared experiences

How can we help increase our happiness from experiences?

  • Keep a happy moments journal
  • Print photos and keep them in view

To see more finance tips check out the Cyprus Credit Union blog here.