> research suggests that people are often happier when they spend their money on experiences rather than things
I concur.
I concur.
That said, the up-side is that physical goods can provide on-going benefit. For example, I love my AirPods Pro - they bring me joy every day.
Seems like the objects enable experiences. However, due to hedonic adaptation, you might get less value out of those daily experiences over time.
- collectible? one-time novelty object but possible ongoing "look at my things" experience
- tech item? possibly ongoing experiences
- status symbol? ongoing experience getting admiration of people that care about such things
- sharp reliable chisel? ongoing experience every time you partake in your creative hobby
- travel itinerary? one-time period of experiences but ongoing photographs, stories and memories
It's not clear cut at all, in my opinion, the delineation between experiences and things.
My expensive vacations still feel like too much money spent for too little return.
The parts I loved-- meeting old friends, and spending time with own family outside daily routine -- could have been achieved much more frugally and in a relaxed manner without the pressure of making the vacation pay for itself (e.g. limit the duration because hotels are expensive and rush through things).
Obviously this is a very subjective experience and also varies based on how wisely we plan out vacations and spend versus our means and mindset.