Why Spending Money on Experiences is Worth The Cost

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“Do I really need this right now? I could spend my money on so many different things!” Making a bigger purchase tends to lead to overthinking. You’ve saved up a bundle of money and now are having second thoughts on whether or not to spend it. We’ve all been there. 

Spending money on an experience is entirely different. Experiences lead to memories, life-changing encounters, and opportunities to put ourselves in a position of growth. Experiences teach us what we like and don’t like, and lead us into the person we become. There’s even a scientific study by Dr. Thomas Gilovich that buying experiences, rather than material possessions, makes us happier. Instead of making a purchase they may lead to regret, participate in a purchase that will overall benefit you. 

Experiences can range from trips to new places, events you’ve always wanted to attend, adrenaline adventures such as skydiving or zip-lining, outdoor activities like horseback riding or fly fishing, and decisions you may ultimately remorse if you don’t do it now (and you currently have the means to). You will most likely remember the night you attended the concert by your all-time favorite musician for years to come, and soon forget how much the tickets cost. Networking events that have like-minded attendees but cost a little more than anticipated, can lead to connections and conversations that may allow you to succeed further in the long run. Experiences are a way to invest in yourself. Whether you realize it in the moment or not, everything you do teaches you something and shapes who you are as a person. 

You may uncover a hidden passion while trying something new. Just think, sparks could fly from trying out a new dance class, picking up a guitar for the first time, or simply enjoying an hour of your time participating in something you enjoy. The worst case is you end up not liking something, and at least now you know. 

It’s truly an accomplishing feeling having a good amount of money in your savings account. It means the ability and freedom to do what you love and say yes to opportunities that arise. Put a smile on your face and spend money on experiences that you’ll appreciate. Live it up and get out there! Do everything you dream of in life and live it to the absolute fullest.