Why You Should Spend Money On Experiences Not Things

Spending money on experiences not things is a motto I like to live by. I’d be lying to you if I said I didn’t really enjoy buying new clothes or getting something cute for the apartment but if it came down to buying myself a new purse for the summer or a flight to New York City, I would choose the flight every time. Sure the purse might physically last longer but eventually it’ll be forgotten, or thrown out. Yet, to sound cliche, the memories I’ll have made visiting a new city will last much much longer.

I’ve written before about how I travel part-time and also how I can afford it, in face there is so much science and research behind why we should be spending money on experiences instead of money, I’m sure you could do a quick Google search and find plenty of articles.

For me it’s about getting to spend time with people I love in a new environment. It’s also about getting to meet new people, heck, it’s how I met my future husband after all.

Of course, there comes a time when there is a need to actually buy new things. Like when you rip your favourite pair of jeans and absolutely must buy a new pair. I’m also not saying that you shouldn’t buy things when you need them. I’m saying, instead of purchasing a new TV just because, or a new pair of shoes, reconsider and think about putting that money aside for a flight or even just a night or two in a hotel.

I’ve put together 5 reasons why you really should consider spending your money on experiences and not things.

You learn from experiences

Travelling as many of you are already aware expands your mind. In fact a study I once read stated that travelling helped to ward of dementia. Whether that is true or not I’m not sure, but I believe it. Exposing yourself to new sounds, smells and sights shocks the brain. Every time I travel I learn something new, whether it’s about myself of the place I’m visiting, there is so much in the world to learn about.

My first trip to Asia really opened my eyes up to a different world. I think it’s one thing for North Americans to travel to Europe and experience cultures there but something different entirely to travel to Asia, or a country that has completely different values, landscapes and ways of life than you. It’s very rare that you get that kind of eye opening experience buying a product or item from a store.

You never forget experiences

While I don’t always remember the exact details of every trip I’ve taken, if I thought long enough I’m sure I could remember almost everything. The memories you make when you travel last a lifetime. My best friend and I still laugh about times we had during our trip to California and Bali. At the end of the day, memories are the only thing that stick with you no matter what. I would personally rather create lots of amazing memories than collect lots of amazing pieces of jewellery.

You gain gratitude from experiences

I’m not an idiot, I know I’m incredibly lucky to live where I live and have grown up with the privileges that I did. I am grateful everyday for that but travelling to a new country really enforces that mentality I think no matter where you came from. Visiting another country just enforces to me that Canada truly is the best country in the world (agree with me or not Canada has been listed on countless reports). Seeing how others live and experiencing different cultures makes me fall in love with my home country time and time again.

You remain happy from experiences

There have been several studies regarding the overall happiness of people who spend money on experiences over things. Some studies found that people often devalued the price of a product they had just purchased within hours after buying it. That high and rush you have when you buy something is not just in your head, it’s a real feeling – I won’t lie, I get that rush the minute I purchase flights. When buying something that’s all you look for though, that rush and then it’s over. If your experience is something you need to buy, like a flight, you may still have that same rush but at least you get the benefit of creating memories as well.

You grow from experiences

I don’t know about you but I learn something about myself every time I travel. Those learnings are what make me grow as a person. On our recent trip to Iceland I learned I could be in a car for up to 7 hours a day with my future husband and not kill him (kidding of course). No matter where you go or what you’re doing though I think there’s always something you can learn about yourself. Maybe you didn’t think you could drive on the other side of the road, or get by in a country that doesn’t speak your language, or you knew how to give exact change in a currency you’ve never learned before. It doesn’t matter how big or small the lesson is, there is always something to be learned from it.

What do you think? Would you rather spend money on experiences?