WHY EXPERIENCES DELIVER MORE VALUE THAN STUFF
- Derek Hagen
- 7 days ago
- 3 min read
❝Experiential purchases make better stories than material purchases.❞ -Elizabeth Dunn & Michael Norton, Happy Money
We remember how something felt long after we forget what it cost.
THE PSYCHOLOGY BEHIND WHY EXPERIENCES STICK WITH US
We’ve all heard the advice: buy experiences, not things. But that isn’t just lifestyle wisdom; there’s psychology behind it.
Every time you spend money, you go through three emotional phases: anticipation, the experience itself, and the memory that remains.
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Those phases shape your happiness far more than the price tag. And they explain why experiences often feel richer, more meaningful, and longer-lasting than the stuff we buy.
EXPERIENCES VS. THINGS: WHAT REALLY DRIVES SATISFACTION
A purchase isn’t just the moment you swipe your card. It’s a journey; one that starts before the experience and continues long after it ends.
Behavioral economics and psychology both show that these stages influence well-being in different ways. And when you line them up, experiences nearly always come out ahead.
THE EXPERIENCE PHASE: WHY "IN THE MOMENT" ISN'T THE WHOLE STORY
Most people assume the real value of spending comes from the moment itself: the vacation, the concert, the dinner, the adventure.
Perhaps surprisingly, material things and experiences often feel equally enjoyable in real time.
A new phone might feel great. A weekend getaway might feel great.
So if the moment feels similar, why do experiences stay meaningful longer?
Because the other two phases — anticipation and memory — do far more emotional heavy lifting than we realize.
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Money is the number one source of stress in people's lives, above work, health, and kids. People with money disorders typically have faulty beliefs about money and cannot change their behavior even though they know they should. |
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ANTICIPATION: A MAJOR SOURCE OF EMOTIONAL BENEFIT
Anticipation is the happiness you feel before something happens. It's the excitement leading up to a vacation, or the joy of looking forward to a dinner out.
Behavioral economists call this anticipatory utility: real emotional value you get before the experience begins.
Two big insights:
• Waiting for something enjoyable boosts well-being.
• Impulsive purchases skip this benefit entirely.
You can enjoy something days, weeks, or months before you ever do it, and that’s a form of happiness built right into the experience.
MEMORY: WHY EXPERIENCES KEEP PAYING EMOTIONAL DIVIDENDS
This is where experiences truly shine. Memories shape how you evaluate whether something was “worth it,” and they last far longer than the product itself.
Experiences win here for several reasons:
Experiences age well. Things don’t. Products get outdated. Experiences get retold.
Memories soften the hassles. You remember the highlights more than the travel delays, which is a real psychological effect known as euphoric recall.
Experiences build connection. People bond over moments, not objects.
Experiences get better with reflection. Meaning grows. Stories form. Identity is shaped.
A memory can become richer over time. A product rarely does.
DESIGNING A LIFE WITH BETTER EMOTIONAL RETURNS
This isn’t about never buying things. Stuff has utility and can bring plenty of satisfaction.
But when you have a choice, when you’re deciding where your discretionary dollars should go, experiences tend to deliver:
Joy before the event
Engagement during the moment
Memories that compound over time
Experiences give you three chances to feel good. Things usually give you one.
That simple difference is why experiences often feel more meaningful, more memorable, and ultimately more “worth it.”
You get one life; live intentionally.
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REFERENCES AND INFLUENCES
Ariely, Dan & Jeff Kreisler: Dollars and Sense
Budd, Chris: The Financial Wellbeing Book
Clements, Jonathan: How to Think About Money
Dunn, Elizabeth & Michael Norton: Happy Money
Gilbert, Daniel: Stumbling on Happiness
Hagen, Derek: Your Money, Your Values, and Your Life
Haidt, Jonathan: The Happiness Hypothesis
