How Much Money Should You Spend on Vacations?
And is it true that experiences make us happier than possessions?
You’ve probably heard that spending money on experiences generally makes us happier than spending it on things, so we should really go to town when it comes to vacation spending, right?
Honestly, that depends, on a lot of factors. Ask yourself these questions before you plan your travel budget.
What Do I Value?
It’s true that spending on experiences tends to make us happier than spending on things, but the kind of experiences that matter to you may or may not involve travel.
One reason experiences make us happier than things is that the vast majority of experiences involve other people and therefore contribute to some of our deepest desires and values as human beings: those of connection and belonging.
To that end, some people will find their money is better spent on a local, and perhaps ongoing experience. Joining a club, taking a dance class, or participating in a sport where they’ll become part of a team with like-minded people.
Travel can help you connect and belong too, which is why taking a trip with your partner, or as a family, may be worth a lot more to you than a solo experience.
