Money = Happiness only if it's an investment in experiences. I'm living proof.
Money can lead to greater happiness for the person possessing it and those around them, if it is used to buy experiences, not possessions.
This explains why a spoiled rich kid can have all the toys in the world and still be empty inside. Buying stuff is a short term high, but money also lets you experience more too, and that's what matters in the long run. I'd add another aspect to this -- money is needed to let you connect to other people.
Last year, I spent many thousands on pro camera equipment (dSLR, pro lighting gear, top quality lenses and all the accessories). But along the way, I discovered that I absolutely loved capturing the beauty of life in photos. I got to go to concerts for free, get to know party promoters, connect with cool local SF bands, and help them on their road to stardom in some small way with my concert photography. Same with the various models I did promotional shoots with. I got to take photos on editorial assignments with a hip hop magazine Hood Star Magazine, and got to see a side of hip hop and street culture from the inside I would never have seen otherwise.
My first interaction with Paul Graham and Jessica Livingston of Y Combinator was actually through my photos of Startup School. Shortly afterwards, one of my photos appeared on the front page of the Startup School -- with thanks from PG himself. Awesome, I thought. It might well have given us a small push when we applied for YC later that year. When Jessica invites me to an event these days, she makes sure to ask if my camera is coming too. =)
I also learned the wonder that is a great, functioning user-generated content community (Flickr), and it helped Sachin and I every step along the way as we designed Posterous. Flickr addiction taught me the virtuous cycle that can happen when personal creativity gains a very real audience.
So I think the money was well spent. The experiences it purchased altered the very trajectory of my life. It put me in touch with new and awesome creative people, let me express myself in a powerful new medium, and in aggregate I'm happier and more engaged in my life now than ever before.
The next time you're considering whether or not to drop the cash on that new gadget or that trip or whatnot, think about whether it will unlock new avenues. If it will, consider it an experiential investment. Take that path and good thngs will come.
20 comments
I agree with you on the photography front. I have also spent a lot on camera equipment, but I think that's fine for several reasons:
1. I'm generally not a creative person, but find this as a great way to excel on that front
2. I love capturing life and memories, especially with family and friends
It's the same with cars. I find as much (if not more) enjoyment out of my $3k miata as i do with my BMW that cost more than 10x as much. So it's not about the cost of the car, but about the fun it brings. I love auto sports, going to the track, and meeting other car enthusiasts. I use to go to lots of meet ups and share experiences.
In terms of Tom's comment of having money to *do* what you want, I have spent a ton of money in travels over the past 5 years (5 continents, 15+ countries) and those are experiences you can't put a price on. Seeing what life is like around the world, how people live, and to see the various wonders of the world...
Travel is seen to many as a waste of money. but as you said, it's an investment in experiences. Combine travel with great photography equipment and you will have photographs and memories that you will cherish your whole life.
Not so the original article. All the research says is, "if you're going to spend money... spend it on experiences". It ignores that there are plenty of joyful experiences that cost nothing or very little. In the UK, for example, joining the National Trust and visiting their buildings and gardens has been a TREMENDOUS source of pleasure for me and my wife, and costs less than 100 bucks per year.
A £15 ukulele has been a similar source of pleasure for me (not so much my wife in this case).
All that's needed for an enjoyable life is enough (but not too much) bacon, beer, learning, and fellowship. You can spend money on them if you like, but it's not the only way.
I've started applying a test before I buy anything: will I enjoy the experience of using this, or do I just want to "possess" it? We have a strong urge to possess desirable objects, even if we will never use them -- or don't expect to use them. I only buy stuff I can see myself using -- and enjoying -- within the next few weeks. Otherwise it stays on the shop shelf.
Since then I've bought hardly any hi tech gadgets, a tiny number of DVDs -- but plenty of quality notebooks and stationery, which I love using daily (and which contribute to the learning and friendship parts of happiness).
Personally, I found that investing in things that really help me overcome fears, push myself over the edge of confort, or allow me to share something with other people is what makes my life interesting. For instance, next month I will spend 1500 Euro on a skydiving course. I *know* I will never regret spending that money, because it will bring something new and exciting to my life, as well as allow me to know a whole different set of astonishingly amusing and interesting people.
And that's what life should be all about: Making the most of it. So that when you are an old man talking to your grandchildren you can motivate them to live their lives to the fullest by telling them your tales :)
Now I can't wait for next month :D
experiences are also the greatest gift to buy someone because they would rarely buy it for themselves.
cheers bernd
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