Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
National

Psychology explains why spending money on experiences makes people happier than buying things, and what decades of research reveal

Imagine two people each receive the same bonus. One buys the latest smartphone, while the other books a weekend trip with friends. A few months later, the phone has become just another everyday object. But the holiday? It's still a favourite story, a collection of photos and memories that brings a smile every time it's recalled.

Why does one purchase seem to keep giving while the other quickly fades into the background?

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.