Buying experiences in place of more things…
I’m all about getting value for money, and this is especially true with my ‘Treat Yo Self’ funds.
This is why I think it is so important to get my best ‘bang for my buck’ when it comes to these funds. Essentially, I want to maximise my ‘fun to funds ratio’ so I get the greatest enjoyment out of my relatively small fun fund.
Articles I’ve Read
This group of articles speaks to the core of this concept. The overwhelming consensus is to spend your fun money on experiences and not things. This will give you the most enjoyment, give you long-lasting memories (especially if they are novel experiences) and will give you the most bang for your buck.
This article which appeared in the Sydney Morning Herald really gets to the crunch of this issue. Spending your money on experiences, time, and on others provide the best ways to boost happiness from your hard-earned dollars.
It goes into the reasons why money is better spent on experiences than things. I particularly liked some of thes reasons, such as the constant need/want to upgrade your ‘things, and those disappointing things that just sit there reminding you of your disappointment.
And here is one for the families out there. Try it for yourself… What are your most vivid and important childhood memories? Is it that monster truck that you got among all the other presents on Christmas day? Or is it the first time that dad took you camping? This article really drives home the point that your kids really just want to spend quality time with you.
There are others
There are many more articles that discuss this often overlooked topic. Perhaps next time you will forgo buying that new X-Box game and instead spend the money to go shark diving.