Spend Your Money On Experiences, Not Things

Spend Your Money On Experiences, Not Things

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WORLD CHANGING IDEAS

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.

Most people are in the pursuit of happiness. There are economists who think happiness is the best indicator of the health of a society. We know that money can make you happier, though after your basic needs are met, it doesn’t make you that much happier. But one of the biggest questions is how to allocate our money, which is (for most of us) a limited resource.

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.”

German skydiver via Shutterstock
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.

Gilovich’s findings are the synthesis of psychological studies conducted by him and others into the Easterlin paradox, which found that money buys happiness, but only up to a point. How adaptation affects happiness, for instance, was measured in a study that asked people to self-report their happiness with major material and experiential purchases. Initially, their happiness with those purchases was ranked about the same. But over time, people’s satisfaction with the things they bought went down, whereas their satisfaction with experiences they spent money on went up.

It’s counterintuitive that something like a physical object that you can keep for a long time doesn’t keep you as happy as long as a once-and-done experience does. Ironically, the fact that a material thing is ever present works against it, making it easier to adapt to. It fades into the background and becomes part of the new normal. But while the happiness from material purchases diminishes over time, experiences become an ingrained part of our identity.

“Our experiences are a bigger part of ourselves than our material goods,” says Gilovich. “You can really like your material stuff. You can even think that part of your identity is connected to those things, but nonetheless they remain separate from you. In contrast, your experiences really are part of you. We are the sum total of our experiences.”

One study conducted by Gilovich even showed that if people have an experience they say negatively impacted their happiness, once they have the chance to talk about it, their assessment of that experience goes up. Gilovich attributes this to the fact that something that might have been stressful or scary in the past can become a funny story to tell at a party or be looked back on as an invaluable character-building experience.

Another reason is that shared experiences connect us more to other people than shared consumption. You’re much more likely to feel connected to someone you took a vacation with in Bogotá than someone who also happens to have bought a 4K TV.

Greg Brave via Shutterstock
“We consume experiences directly with other people,” says Gilovich. “And after they’re gone, they’re part of the stories that we tell to one another.”

And even if someone wasn’t with you when you had a particular experience, you’re much more likely to bond over both having hiked the Appalachian Trail or seeing the same show than you are over both owning Fitbits.

You’re also much less prone to negatively compare your own experiences to someone else’s than you would with material purchases. One study conducted by researchers Ryan Howell and Graham Hill found that it’s easier to feature-compare material goods (how many carats is your ring? how fast is your laptop’s CPU?) than experiences. And since it’s easier to compare, people do so.

“The tendency of keeping up with the Joneses tends to be more pronounced for material goods than for experiential purchases,” says Gilovich. “It certainly bothers us if we’re on a vacation and see people staying in a better hotel or flying first class. But it doesn’t produce as much envy as when we’re outgunned on material goods.”

Gilovich’s research has implications for individuals who want to maximize their happiness return on their financial investments, for employers who want to have a happier workforce, and policy-makers who want to have a happy citizenry.

“By shifting the investments that societies make and the policies they pursue, they can steer large populations to the kinds of experiential pursuits that promote greater happiness,” write Gilovich and his coauthor, Amit Kumar, in their recent article in the academic journal Experimental Social Psychology.

If society takes their research to heart, it should mean not only a shift in how individuals spend their discretionary income, but also place an emphasis on employers giving paid vacation and governments taking care of recreational spaces.

“As a society, shouldn’t we be making experiences easier for people to have?” asks Gilovich.

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19 Dimers
Free vector troll 062218 troll
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Everybody busy Scheduled

R u sure ppl read ur full comment ?

Beside the fact that

Most of Dimer -

Ki english badi weak h

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@riya95 wrote:

Everybody busy Scheduled

R u sure ppl read ur full comment ?

Beside the fact that

Most of Dimer -

Ki english badi weak h


. eek

Bh 400x400
Deal Cadet
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Title sounds like tagline for GiftXOXO toungueout

Images %284%29
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@bargainhunter wrote:

Title sounds like tagline for GiftXOXO toungueout


+1

ad bot
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I found this sponsored content on one of the ad networks.

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Please compress and post toungueout

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@G33kBoyRavi wrote:

Please compress and post toungueout


bro pls install winzip toungueout

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@FeelMyL0Ve wrote:

@G33kBoyRavi wrote:

Please compress and post toungueout


bro pls install winzip toungueout


Omg knows the tricks .

Anyone, please post any trick to compress the books or experiences, and how to download the same in our mind and soul.

#calling_chitti.

Free vector troll 062218 troll
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plz someone pm me The Trick

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WORLD CHANGING IDEAS

In Africa, Chinese Developers Are Building A Mini-China

A photo investigation of the Chinese-sponsored apartments, highways, factories—and even entire cities—that are sprouting up in Africa at an astounding pace.

On the outskirts of Nairobi, Kenya, a small sign points to “Beijing Road,” where a new housing development called the Great Wall Apartments looks like the concrete towers you’d find in a Chinese city.

Across Africa, Chinese developers are building highways, light rail systems, apartment buildings, and entire cities. A new photo series from the Go West Project, a think tank focused on emerging megacities, looks at Chinese influence in seven African cities.

“We know the Chinese urban model, and we also know that China’s trying to export that model to other parts of the world,” says Michiel Hulshof, a Netherlands-based urban strategist who collaborates with Daan Roggeveen, an Shanghai-based architect, on the Go West Project. “Africa’s sort of striking in that sense.”

Next to Lagos, Nigeria, Chinese developers have built a walled-off “special economic zone”—basically a separate city, with separate rules designed to attract investors—based on a model they’ve used inside China for the last 30 years. After Shenzhen became a special economic zone in the 1980s, it went from a small town of 20,000 to, by some counts, 15 million today.

“Now Shenzhen’s the factory of the world,” says Hulshof. “And that special economic zone is now being tried out in Africa.”

Hulshof and Roggeveen visited two of the new developments, and also went to an meeting in London where a Chinese developer pitched the idea to investors. “The story is, ‘Lagos is a very dangerous, chaotic city where nothing works, it’s corrupt, so we’re going to do that completely different,’” Hulshof says. Inside a locked border, the new development will have its own airport, its own reliable electric grid, its own harbor, and even its own police force.

In another special economic zone outside Addis Ababa, Ethiopia, the researchers visited a Chinese shoe factory with Chinese managers, Chinese equipment, and local workers. (Interestingly, the quality control team is Brazilian, the shoes are being made for an American brand, and are being sold to Europeans.)

Chinese influence also goes beyond physical infrastructure. Now it’s possible to pick up a copy of China Daily, China’s state-run newspaper, in some African cities, and watch CCTV, China’s state-run news channel. Some cities have Chinese language schools, and some African students are given grants to go study in China. In markets, Africans can buy Chinese bikes and mobile phones that aren’t sold in other parts of the world.

Development is happening quickly, though not as quickly as megacities grew in China. Of 50 economic zones planned nine years ago, only six have been built. Developers are struggling to adapt to the differences in various African cultures and differences in governance.

“I think from Chinese point of view, the biggest danger is corruption in African countries,” says Hulshof. “But another problem they will run into is democracy . . . which makes it more difficult to develop in the top-down way that Chinese companies are used to. If people own land, you can’t just kick them out.”

Though the pace and scale of Chinese influence has been criticized by some—Hillary Clinton has called it “new colonialism”—the researchers saw that the people they spoke with in Africa were generally positive about the changes, at least for now.

“It’s too early to tell how this will turn out,” says Hulshof. “But it’s quite interesting.”

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@DealSeeker wrote:

@dexter1989 wrote:

Source – http://www.fastcoexist.com/3043858/world-changi...


By the way, not that I am trying to say I am the first person to have or publish that idea, but I posted it 3 months before that FastCo article. http://www.desidime.com/forums/dost-and-dimes/t...


Definitely u written a good piece of advice.
Keep sharing ur experiences.

Vaisen bhi DAN ke Jane ke bad forum kuch achaa lagne laga.

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Healthy Tips For A Beautiful Life

“It is so simple to be happy, but it is too difficult to be simple.”
This dialogue from the movie, Bawarchi always instills optimism and positivity every time one hears it. However, a mere quote is not enough to stay positive when several incalculable thoughts enter our minds and direct us towards pessimism daily. So, what’s the way out? Simple, whenever a single negative thought pops-up in your head, just remind yourself that All is well, and look for positivity around. Reading tips like these, which we found on DailyHealthGen, would also be of immense help.

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