Why You Should Invest In Making Memories


by Hannah Moore

Does the ability to physically grasp something mean it will have a lasting positive effect on us? "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," writes Jay Cassano. He's analyzing a theory (proposed by Dr.Thomas Gilovich of Cornell University) that experiences, although ephemeral in nature, keep people genuinely happier than buying new material items. The idea in summation is this: we get used to being around the same physical object over time, so it's value to us diminishes. But an experience like travel or a concert especially with loved ones becomes an ingrained part of you, rather than something that's just around your presence. "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," states Dr. Gilovich. The article then goes on to discuss why people tend towards purchasing instead of experiencing even though one outweighs the other in arguable benefits. All in all, both Jay Cassano and Dr. Thomas make for compelling and truthful food for thought that could change anyone's life with a simple read through of their insight.

Read the full article here.