How to Spend your Money for Maximum Happiness...

[Midpack]

Quote:

Originally Posted by Hermit "Invest in experiences" Sounds like a travel industry commercial to me.

As the article notes, travel isn’t the only experience.

[Walt34]

Quote:

Originally Posted by Hermit "Invest in experiences" Sounds like a travel industry commercial to me.

Quote:

Originally Posted by Midpack As the article notes, travel isn’t the only experience.

One example:

One of my relatives (that I otherwise get along with great and like a lot) mentioned that, because we spend very little on travel, mostly because we dislike travel, and I have spent and continue to spend a good bit on hobbies, R/C airplanes in particular. He has a very hard time understanding the attraction because to him it is not an experience. It is just buying "things".

I tried to explain to him that there is a unique experience in launching an airplane which you have spent a year building and $2,000 in discretionary income off into "the wild blue yonder" and really, really hoping you don't bring it home in a bag. And being ecstatic when you "grease" the landing.

I got nearly the same joy out of being able to help someone else get started on their own path to doing the same things. The hardest part of learning to fly an R/C airplane is the landing pattern and of course the landing. Once a newcomer gets that down to the point where he/she can do that consistently and safely (this is when the other club members crawl out from under their cars) they have completed a major milestone and that is an experience too.

Those of us who have also flown full-size airplanes know that landing an R/C airplane is every bit as difficult and in some respects harder because in a full size airplane "right" and "left' stay in the same place. And there is no "seat of the pants" flying in R/C. Think about those two for a moment.

In the course of building and flying R/C airplanes I developed a lot of friendships in a club. I got elected drafted onto the board of directors and learned a lot about the innards of running an all volunteer nonprofit organization. Being a slow learner, after that I agreed to being president of the 250-member club for a year. Among other things I learned a lot about what the expression "herding cats" really means and where it came from.

And all those experiences would not have happened if I didn't spend some money on inanimate objects that fly.

[Focus]

Quote:

Originally Posted by timbervest What the heck is up with Tunisia?

This graphic has me puzzled too. It's from 2012. It's possible that the U.S. has shifted toward the purple side of the spectrum since then. Also, in other advanced economies people give more to others through higher taxes that fund stronger safety nets. Is that accounted for?

[Involuntary Retiree]

Quote:

Originally Posted by Focus This graphic has me puzzled too. It's from 2012. It's possible that the U.S. has shifted toward the purple side of the spectrum since then. Also, in other advanced economies people give more to others through higher taxes that fund stronger safety nets. Is that accounted for?

Nope. Giving is voluntary. Government-sponsored wealth confiscation is involuntary and does not constitute "giving."

[Amethyst]

As you undoubtedly know, there are hobby people, and then there's everybody else. Even a fellow hobby person who doesn't participate in your particular hobby, is likely to understand the drive to seek out and spend money on your hobby's unique "stuff."

And when we do meet someone who shares the same hobby interest - well! it's Katie bar the door!

Quote:

Originally Posted by Walt34 One example: OI have spent and continue to spend a good bit on hobbies, R/C airplanes in particular. He has a very hard time understanding the attraction because to him it is not an experience. It is just buying "things".

[skyking1]

This is a great topic, thank you. I agree with most all of the premises. Buying more time is simple in the context of this forum.
Strive to retire earlier by trimming your budget and figuring out creative ways to cut your overhead, long term.
Retire earlier = more time.

[HawkeyeNFO]

Quote:

Originally Posted by timbervest What the heck is up with Tunisia?

I've been to Tunisia. If I lived there, I'd spend money on international travel for myself - and I don't mean round trip.

[homestead]

Quote:

Originally Posted by timbervest What the heck is up with Tunisia?

Descendants of Pirates.

[RobbieB]

I love bending a motorcycle through curvy canyon roads.

But you have to buy the motorcycle first.

I love the solitude of fishing in the delta and I love the taste of fish that lived the day I ate them.

But you need to buy the boat first.

Yeah, I love the experiences!

[racy]

Quote:

Originally Posted by RobbieB I love bending a motorcycle through curvy canyon roads. But you have to buy the motorcycle first. I love the solitude of fishing in the delta and I love the taste of fish that lived the day I ate them. But you need to buy the boat first. Yeah, I love the experiences!

+1
I like the solitude of moto camping ... need to buy motorcycle, tent, sleeping bag, cot & JetBoil first.
Guitar playing is a relaxing & mental exercise ... they don't give away guitars.
I enjoy participating on internet forums ... gotta have a computer though...

[Dash man]

I love the experience of drinking my morning coffee overlooking the ocean. I love daily walks on the beach. I also love bringing the family together to enjoy these experiences.
I also love having the ability to help others in need, to give that large tip to a struggling waitress or Grubhub driver, and supporting my church and charities that have struggled so much in this past year.

[Music Lover]

Quote:

Time is precious—buy yourself some more of it

I did exactly that. My earliest retirement date to avoid a pension penalty was age 55. I took a year leave of absence prior to turning 55 but didn't start collecting pension until 55. I "bought" a year of time.

[intent]

I'm not sure what category this might fit into, but within the last couple of years I find I derive quite a bit of happiness from home improvements that address what I consider foundational issues. Basically, to me, a foundational issue is any item repair/improvement that either stabilizes the functional condition of the house (e.g., winterizing, painting, etc) and/or improves the functional condition of the house (e.g., new windows, trex-like decking, etc). The improvement has to be more than for cosmetic or convenience reasons though - something that will ensure the home is more likely to hold up well for another 2-3 decades.

For example, a kitchen upgrade/remodel that is primarily completed to make everything nicer, more modern - that doesn't really appeal to me.

Installing a new water heater to replace a 12-year-old model that hasn't failed yet, but is likely to soon - that's something that brings me happiness.

Then again, I was the guy playing the board game "Risk" who enjoyed amassing more and more armies on the few countries I controlled

[Focus]

Quote:

Originally Posted by Focus This graphic has me puzzled too. It's from 2012. It's possible that the U.S. has shifted toward the purple side of the spectrum since then. Also, in other advanced economies people give more to others through higher taxes that fund stronger safety nets. Is that accounted for?

Found a link to the study the graphic came from: https://www.apa.org/pubs/journals/re...-104-4-635.pdf

Based on a quick skim, it looks like the "spending on others" is limited to donations to charity, which would vary considerably from country to country depending on their cultural norms and the strength of their social safety nets.

[38Chevy454]

Quote:

Originally Posted by Involuntary Retiree Nope. Giving is voluntary. Government-sponsored wealth confiscation is involuntary and does not constitute "giving."

Agree


Back to the original discussion, I think experiences have long been stated as producing longer happiness as opposed to material things. However material things can bring happiness as they allow one to experience happiness events as many have suggested. It would be much harder to have my camping experiences without my motorhome. Or being able to enjoy driving my old cars and attending a show with my friends without my own old cars.


I also enjoy helping others to understand financial aspects. Or making my yard look nice for others to appreciate when driving or walking by.

[brett]

The last time I was in a car dealership was when my spouse convinced me to go in a just 'bite the bulit' and buy a new car. Money is not an issue.

So we went, sat in the new vehicles. Very nice. Salesperson very helpful. One problem though...I really should be exited and anxious to get into that new car smelling Acura. But I was anything but. I could care less. Something wrong with me I wonder?

We left....spouse said I guess we are keeping the 97 Camry for a while. After all, it was only 14 years old at the time but it was fully loaded.

I changed the subject and said....lets go to Thailand.. and then Australia for two months or so.

She nodded in agreement. We did. It was much, much better than that new car feeling! Liked it so much we went again...and again. What good is a new car when we are away for four or five months a year??

Experiences are what count for us now, not things. After all, time is running out. Morocco is next, then back to Greece and to Thailand/Australia next winter IF they are open. New cars can wait.

[Chuckanut]

Quote:

Originally Posted by Music Lover I did exactly that. My earliest retirement date to avoid a pension penalty was age 55. I took a year leave of absence prior to turning 55 but didn't start collecting pension until 55. I "bought" a year of time.

Great point. I bought an extra 3 years of time by retiring earlier than 65 and taking a cut in my pension. I will soon compensate for that by taking SS at 70.

Balance. Don't retire without it.

[Chuckanut]

Quote:

Originally Posted by brett We left....spouse said I guess we are keeping the 97 Camry for a while. After all, it was only 14 years old at the time but it was fully loaded. I changed the subject and said....lets go to Thailand.. and then Australia for two months or so. .

I used to tell others that my old Camry 2004, then my 2012 came with a two week trip to Europe each year. Alas, in late 2019 some guy totaled the 2012 Camry and I had to buy a new RAV4. Haven't been to Europe since them.

[street]

Thanks for sharing that Midpack. I can say we do those things and it does create happiness for us.

[AboutThere]

Great thread.

I do like my material things, like a fine watch or a well-balanced fly fishing combo. But yeah, put me on a trout stream with any old fly rod and a decent cigar and I'm good.

I do own a blindingly expensive stereo that I enjoy greatly...