Dr. Thomas Gilovich, psychologist, drew this conclusion after studying the relationship between money and happiness for over 20 years.  His research results indicate that the happiness we feel when we buy a material purchase such as a new phone or a new car do not last as long as the happiness we feel when we spend money on “experiences”.  It would seem that money we spend on “experiences” such as going to a concert, travelling or learning a new ability, will give us a sense of happiness far outlasting the purchase of a physical object.

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Pierrette Richard
Psychologist