What makes you happy?
Experiential purchases, such as a meal out or theater tickets, result in increased well-being because they satisfy the need for social connectedness and vitality, the feeling of being alive. Experiences also lead to satisfaction on a longer term basis. In the words of the study’s author, Ryan Howell, “Purchased experiences provide memory capital. We don’t tend to get bored of happy memories like we do with a material object.” (Buying experiences, not possessions, leads to greater happiness, Ryan Howell, 2009)