Posts Tagged ‘spending; overshopping; experiences’
Better Ways to Spend
I was intrigued by a book review in the weekly magazine The Economist, since the book in question delivers the same message that I have been telling my clients: spend your money on experiences, not things.
According to “Happy Money: The Science of Smarter Spending”, by Elizabeth Dunn and Michael Norton, behavioral research indicates that the excitement brought on by material purchases wears off quickly. A much better strategy, the review states, is “to spend money on experiences, like interesting trips, unique meals, or even going to the cinema. These purchases often become more valuable with time — as stories or memories — particularly if they involve feeling more connected to others.”