The Science Of Why You Should Spend Your Money On Experiences, Not Things

"You don't have infinite money. Spend it on stuff that research says makes you happy." Fast Company takes a look at research on happiness:

There's a very logical assumption that most people make when spending their money: that because a physical object will last longer, it will make us happier for a longer time than a one-off experience like a concert or vacation. According to recent research, it turns out that assumption is completely wrong.

"One of the enemies of happiness is adaptation," says Dr. Thomas Gilovich, a psychology professor at Cornell University who has been studying the question of money and happiness for over two decades. "We buy things to make us happy, and we succeed. But only for a while. New things are exciting to us at first, but then we adapt to them."

So rather than buying the latest iPhone or a new BMW, Gilovich suggests you'll get more happiness spending money on experiences like going to art exhibits, doing outdoor activities, learning a new skill, or traveling.