Recently I read The Weathy Barber Returns. Years ago I had read the original book and I wanted to see what he had to say all these years (and an economic crash) later. The first half of the book was all about saving money but it got really interesting around the middle of the book when he spoke about spending it.
According to Elizabeth Dunn, a social psychologist, he references, money can buy happiness if you spend it wisely. Chilton says that rather than spending money on material things we need to spend money on experiences which create excitement, memories, good feelings and camaraderie.
He explains it this way, “experiences don’t grow mundane; they don’t create habituation. In fact, it’s quite the opposite – they offer us a break from the same old, same old. They rescue us from routine and, therefore, excite us.”
It makes sense. We if I buy a new sports car this is exciting but the thrill of it wears off over time. It can be diminished, too, when my friend buys a nicer, and now newer, sports car. But the trip I took to Greece with my daughter can’t be diminished by anyone else’s trip – with anyone – anywhere! Additionally, I can relive the memories and enjoy the trip over and over again. Experience is forever. You, the people on this porch already know this!
So what about things which create experiences? If your favourite experience is golf, for instance, you need to buy the equipment to enjoy. Isn’t the experience more fun with nicer equipment?
Does that mean the best purchase may be a souvenir of a wonderful experience?
What purchase(s) have you made that have made your the happiest? How do you spend your money?
photo credit: Murilo Cardoso