This rings true to me too. When I reflect back on life, the memories I have bring back much more joy than do the things I've bought. Whether it be time with family, my travels to the 7 continents and 50 states, going to Alaska with my 90-year-old Aunt Ruth, volunteering at Give Kids the World, being involved with church, or sharing a meal with my friends, all of these have brought me far more satisfaction than any material possesion I've ever bought. Rarely have I regretted spending money on these experiences and relationships, but many times I've regretted material purchases I've made. Even the experience of coming here to GMU for my PhD, despite some challenges, has been far more satisfying than the much higher-paying engineering jobs I've had. (So far, anyway...)
From yesterday's Wall Street Journal, some advice:Think carefully about how you spend your dollars. While a new car may not boost your happiness for long, maybe a trip to Europe would.This rings true to me.
"Money itself doesn't make you happy," [Harvard psychology professor Daniel] Gilbert says. "What can make you happy is what you do with it. There's a lot of data that suggests experiences are better than durable goods."
The car might seem like the better purchase, because it has lasting value. But, in fact, it sits in the driveway, slowly deteriorating. "Experiences don't hang around long enough to disappoint you," Prof. Gilbert says. "What you have left are wonderful memories."
When I first graduated college, I intentionally made it my aim to accumulate experiences rather than things. According to the latest in happiness research, it looks like this was a very good idea.
Apparently, my professor Bryan Caplan doesn't fully agree:
To which Will Wilkinson counters:
I'm baffled. Don't many durables provide a flow of experiences? A nice T.V. is the obvious example; a fine stereo system's another. My CD collection is my pride and joy - whenever I worry about being robbed over vacation, my first thought is the sorrow of seeing my CD shelves empty.
I don't share Arnold's methodological aversion to happiness research, but this sounds like a very hasty generalization.
Tyler Cowen seems to echo this when asking "What makes the best Christmas gifts?":
Two points. (1) Market egalitarianism. Qualitiative differences between cheap and expensive consumer goods is almost nil. There is almost no experiential difference between a cheap TV and a “nice” TV. If Deadwood is good on a $2000 plasma screen on HBO, it’s 98% as good on your sister’s giveaway used 19″, a $35 DVD player, and Netflix. The extra expenditure buys almost nothing in terms of the quality of experience. Same with the music. For $4.95 a month, I can get I’m guessing 75% of of Bryan’s CD collection on Yahoo. Capitalism make money worth much less when it comes to manufactured non-positional goods. (2) Adaptation. The mind is a novelty whore — a change detector. Consciousness loses its grip on the added quality of a premium picture, sound system, etc., very fast. The cheap, almost perfect substitute for an expensive stereo is a cheap stereo. The cheap substitute for an exquisite meal at the best restaurant in Paris is… what? IHOP in Arlington? A great memory and a great story is an ongoing flow of positive experience. Gilbert is right.
Dr. Cowen shares some more thoughts on happiness here and here.
Experiences, not possessions. Concerts and travel are remembered for longer than clothes and jewelry. The result is robust to different ages and groups, but tends to be strongest for high-income individuals. Here is the full story, here is another summary. Here is the original paper. The home page of Van Boven, one of the researchers, offers many interesting papers on human psychology.
Be sure to check out Daniel Gilbert's book, "Stubmling on Happiness". It's a book discussing the latest findings in happiness research and is a great read! I listened to the audio version on my trip to the northeast this summer and found it enjoyable, insghtful, and fascinating. Apparently, I'm not the only one who likes it.
Listen to this radio broadcast about the latest in happiness research and check out Gilbert's website.
My Previous Posts on Happiness Research:
2 comments:
Thanks for a superb posting!
Our research showed that habitually happy people Delight in Differences, they Cultivate Continual Curiosity, they are adverturesome people who constantly seek growth and change.
This is #96 from How To Live A Happy Life - 101 Ways To Be Happier.
Exciting experiences expand and enrich our lives, they allow us to grow and change, and to see the world differently from what we saw the day before.
Material possessions can delight us for a while, but they don't generally change us other than boosting our egos with a status symbol.
See the Happiness Articles from www.HappinessHabit.com for more secrets to living a happy life.
Thanks again for your postings!
Michele Moore, Author of
How To Live A Happy Life -
101 Ways To Be Happier
www.HappinessHabit.com
Thanks for a superb posting!
Our research showed that habitually happy people Delight in Differences, they Cultivate Continual Curiosity, they are adverturesome people who constantly seek growth and change.
This is #96 from How To Live A Happy Life - 101 Ways To Be Happier.
Exciting experiences expand and enrich our lives, they allow us to grow and change, and to see the world differently from what we saw the day before.
Material possessions can delight us for a while, but they don't generally change us other than boosting our egos with a status symbol.
See the Happiness Articles from www.HappinessHabit.com for more secrets to living a happy life.
Thanks again for your postings!
Michele Moore, Author of
How To Live A Happy Life -
101 Ways To Be Happier
www.HappinessHabit.com
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