Why Meaningful Experiences Outweigh Material Things
Understanding the correlation between experiences and sustained happiness
This past Christmas, I realized that most of my gifts were vouchers for “experiences” rather than actual products. I received a spa day, a trip to the water park, and a ticket to a musical. And I’m not mad about it. In fact, I’m rather elated.
Ever since I could remember, I’ve always preferred “experience”-type gifts over things. Yes, sure, a new pair of hiking shoes would be a great gift, but a trip to the Black Forest would be even better.
And I’m not alone either. A study conducted by Expedia and the Center for Generational Kinetics, showed that 74% of Americans prefer experiences over products or things.
So, why is this? Why are more people opting to do cool things over buying cool things?
Experiences > materials
There are several reasons why people may be prioritizing experiences over products. It could be because people are becoming more conscious of excess and are wanting to live a minimalist lifestyle. It could be due to the fact that social status is no longer marked by possessions such as fancy cars or designer clothes, but by the things you’ve done and the places you’ve been to. Or, it could simply be because it makes us more happy.
Dr. Thomas Gilovich, a psychology professor from Cornell University, has been studying the correlation between happiness and spending money for more than 20 years and found that people were essentially happier when they spent their money on an experience instead of an item.
The argument behind this is that the excitement and intrigue of a new item will eventually fade, whereas an experience will last even when you’ve already completed it. While the actual experience is temporary, it’s what you’ve gained from it and the memory of doing it that will stay with you.
For instance, let’s say you were a Beyoncé fan. Wouldn’t it be more worthwhile if you spent your hard-earned money on a ticket to see her live in concert than buying her Ivy Park merchandise? Sure, the concert would be a fleeting experience, but the memory you’d have of seeing Queen Bey tear up the stage will last much longer than the actual concert.
It would be an experience you’d remember for probably the rest of your life. An experience you would share with your family, friends, and fellow Beyhive members, and one that shapes you as someone who has seen Beyoncé live as opposed to someone who owns just another Ivy Park sweater.
How to have meaningful experiences
Meaningful experiences don’t always have to come with a cost. There are plenty of ways to spend your time invaluably without a price tag.
In his book, Time and How to Spend It: The 7 Rules for Richer, Happier Days, author and cultural commentator, James Wallman puts forth a checklist — called the STORIES checklist — that can be used as a framework to determine which activities can lead you to a more worthwhile experience, and in turn, sustained happiness.
Wallman also supports the idea of how experiences can lead to happiness. He asserts that how you choose to spend your free time can greatly impact your happiness and overall success, which is why he championed this checklist.
The checklist name is an acronym made up of words that can help you to figure out which experiences can add to your personal development and which to avoid as they have no value:
S stands for Story — before you decide on doing something, ask yourself, “Will it add to my story?”
T stands for Transformation — an experience should allow you to evolve as a person, or else, it’s not really worth doing.
O stands for Outside & Offline — this is kind of self-explanatory. Do things that involve going outside and offline.
R stands for Relationships — developing and maintaining relationships is imperative for sustained happiness. If your experience allows you to do this, then great, do it.
I stands for Intensity — do things that are challenging.
E stands for Extraordinary — your experience should leave you with a good memory, even if the experience itself wasn’t always pleasant.
S stands for Status — aim for activities that can add to your education and wealth accumulation as status can play a part in how much happiness you feel in life.
Sustained happiness doesn’t come from materialistic things, rather, it comes from meaningful experiences. After our basic needs are covered, material things can only increase our happiness to a certain extent. Which is why, to achieve lasting happiness, we should occupy our time with worthwhile experiences.
What constitutes “worthwhile” will vary depending on the person. It can be anything from sky-diving to simply going for a walk in the park. Following the STORIES checklist is a great way to help you determine whether an activity is worth undertaking. However, it obviously isn’t the only way. As long as you can find value in an activity you’re about to pursue, then it’s something that’s definitely worth doing.
What was the last meaningful experience you’ve undergone?
Cheers,
Dinnie and the Zenkit Team
