Sunday, July 14, 2013

What do you spend money on?

There is an article in the New York Times Today about how spending money on experiences makes you happier than spending money on stuff (including real estate).  I feel like I've known this instinctively all along. In my 20s, when I didn't save outside of my 401K, I spent all of my money on traveling and going out to dinner with my friends. I had no fancy clothes, purses, furniture or shoes.  Just a lot of fun. This used to depress me. In my early 30s I thought, "I spent all this money and I literally have nothing to show for it." But now I look back fondly on that time and I know I always will savor those memories of early adulthood freedom in NYC.

I've continued the trend (well, not spending all my money luckily) but spending on experiences.  I just took a look at my spending for the year so far. The top categories (outside of the mortgage) are Travel and Food and Dining, with Health Care in 3rd.  Health Care expenses for me are seeing a therapist I really love and learn from and my acupuncturist which makes me feel amazing and helps me keep a chronic illness under control. When I do buy stuff, it's mostly sporting goods I need to practice my favorite sports/hobbies with my friends.

So yay to not spending on stuff, but yay to spending on fun experiences with friends and family and really enjoying life.

1 comment:

  1. Interesting. I haven't had the luck of reading the article (you might have included the link in the post). My spending has been heavily on stuff and no fun there, the novelty wears off fast after some time. Perhaps I should concentrate some more on experiences, starting with Christmas gifts this year...strive to give experience gifts :)
    Nice read