People work day and night in order to earn money. But when there is little money left following their daily expenses, they would like to ensure that it is spent in a judicious manner. Researchers are of the opinion that spending your limited income can make you happy.
Life is short and research has revealed that people are most stressed in countries like India where majority population belongs to the middle class. Meeting the routine expenses, managing the household, coping with inflation and trying to raise the standard of living can eventually lead to a lot of stress and this can harm your health too.
10 Reasons to Spend Money on Experiences Not Things:
We become habituated to new possessions:
One common issue among people buying new possessions is that they become used to it. Any item which may seem unique to you today will become normal tomorrow. For example, you bought a new car of the latest model which has been launched in the market. For the first few days, driving it will be an exciting experience for you. But once you become habituated to it, driving the car will become something very normal in your day to day life. New things seem to be exciting at first, but as you adapt to their usage, they seem normal.
Comparisons are likely to happen at one point:
Possessions, because of their very nature, lead to comparisons. You may have bought a new outfit and feel excited about it till your friend finds a better one. Therefore, after a point, all the excitement surrounding the item you have bought recedes. Rather, you plan on buying something even better. As a result, you do not get the time to enjoy the item you have bought. Instead, much of your time and energy goes into buying something better than your peers.
People keep raising the bar:
New purchases often lead people into expecting something which is even better. But as soon as they become habituated to the item that they have bought, they look for something which is of even greater quality. Therefore, they get little satisfaction from buying any item which they covet at one point. Their demands keep on increasing but they spend little time to enjoy the item they have bought.
Experience becomes a part of your persona:
People are not possessions, but the total of everything that they see, do, and the places they visit are. Buying an iphone isn’t going to bring about a change in the person you are. Instead of taking a break from work, go hiking to the Rocky Mountains for that much needed change. Your experiences form a bigger part of your life as compared to items that you buy. You may have a liking for any material. You may even think that they form a part of your persona; however, they remain separate from you. On the other hand, experiences will stay in your memory for a lifetime. You can cherish them for a long time to come.
Experiences are brief:
Have you ever bought something that wasn’t as trendy as you thought it to be? Once you buy such an item, it would be reminding you about your disappointment. Even if the product meets your expectations, a sense of remorse can set in. But that is not the case with experiences. The fact that they last for a very short time period makes us value them more. The value of experience increases as time passes.
Comparisons don’t actually matter:
Experiences are not compared in the same way as things are. In a recent study by Harvard University, when people were questioned if they wanted a high salary which was lower than their peers or a low salary which was higher than their peers, many weren’t sure. But on being asked the same about the length of a vacation, most of them opted for a longer vacation, even if it was shorter as compared to that of their peers. It’s hard to calculate the actual value of experiences, and that is what makes them more valuable.
Anticipation matters the most:
Experts are of the view that eagerness of an experience causes excitement while eagerness to buy a product leads to impatience. Experiences cause joy from the very moment you start planning, till they become cherished moments in your memory forever. You are not likely to experience the same feeling with a commodity.
Experience cannot be measured:
Experiences, unlike items, do not have any expiry date. The car or jewelry that you buy may be valuable items but the satisfaction that you are going to derive from them will diminish over time. In contrast, experiences will stay in your memory for a lifetime. You will surely spend a large sum on a family outing. But the experience you will derive will be unforgettable. You can always cherish those moments for years to come. These are lifetime experiences which no cars, gadgets or jewelry will ever be able to replace.
Experience makes you familiar with various worldly perspectives:
Traveling is one of the best ways to get acquainted with worldly perspectives. It can help you get acquainted with different cultures and traditions. Through traveling, you learn about many new things which are never taught within classrooms anywhere in the world. You don’t have to travel across different parts of the world to derive the benefits of travel. A road trip over the weekend will give an opportunity to experience many new things in life. Spending free time with nature can also provide you with a peace of mind which buying expensive items won’t.
You will learn lifelong lessons from experience:
Gaining new experiences is always beneficial as they teach you many important life lessons, which you won’t learn otherwise. Traveling to new destinations will teach you qualities such as patience, acceptance, and adaptability. Buy tickets to the theater, opera or anything related to performing arts. Spend your leisure visiting art exhibitions and museums. Experiences can in a great way change your lives. You become humble, forgiving and compassionate as a result. Developing these qualities will help you to progress in life in the long run. So, you should spend more on experiences rather than things.
This simply reveals that even small experiences can help you be a happier individual and help you lead a healthier life. This is a simple fact that applies not just to personal life but also to work life. Many people waste their time toiling hard in huge companies for a high pay but with no gain. They spend years simply because they are paid high but they barely gain any additional skill or knowledge.
On the contrary, people who work for small companies may be paid less initially but the work experience in such companies helps them prove useful and efficient professionals in the long run. Here are some examples of how it is better to spend more time on experience than on a higher pay when you are working:
Best Ways to Spend Time:
You Know Where You Stand:
Large organisations hire you for a certain position and assign you a certain task. Even as the years pass by, the tasks barely change. Very often, employees don’t even know the purpose of their work or how their work actually helps the organisation. They do not know the position of their task in the work flow. This lack of knowledge prevents them from knowing exactly where they stand. This in turn hampers their confidence and affects their persona in the long run.
You Have Multiple Options Open:
When you know the skills you possess, it eventually boosts your confidence. When you work for a small firm, you may have to handle multiple tasks simultaneously. You know exactly where you stand and also know how significant you are for the company. This helps you know when the company is not performing well. You may also know the competitors in the industry and this will help you always have your options open. The fear of losing your job may not threaten you the way it will in big companies.
You Get More Job Satisfaction:
Knowing where you stand has another merit. When you are aware of your contribution to the firm or organisation, it eventually helps you be satisfied with your job when you work and get appreciated for the same. Job satisfaction motivates you to look at your firm’s goals as your goals. This helps you work more efficiently and earnestly.
Company Expectations Are Different:
The modern work scenario is very different and here the expectations from each employee is also very high. In the past, people used to retire from the same organisation that they first joined. Today, people are constantly seeking better opportunities. The modern companies also seek individuals with a wide range of skills. A person with better on field knowledge and industry experience is always given preference. This is another reason why you must spend more time on experience rather than money.