Experiences over stuff

Have you ever noticed that after a bit of retail therapy, or short-lived indulgence, you start searching for your next purchase? Whilst the initial elation of a new purchase feels great, the lull that often follows can leave you craving more of the same.

Much has been written about how people are more likely to remember things which have an emotional attachment for them. It is also well documented that the pleasure derived from material purchases can be very short-lived.

When we think about what matters to us most, few would disagree that sharing valuable time and experiences with loved ones come out on top.

To help you visualise this, think about the below dial. Experiencing new or exciting things pushes the dial towards the right. The feel-good factor from that experience then keeps it there by living long in the memory afterwards.

If you opt for less memorable short-term hits, like purchasing shiny new possessions, the danger is that the dial spikes to the right before a sharp drop to the left, leading to a less satisfying life.

We regularly challenge our clients to think about what they would like to do or experience, rather than what stuff they could buy. We want to increase our clients’ prospects of living rich and fulfilling lives, rather than accumulating lots of material possessions that in time may not be needed, valued or even remembered.

If this has got you thinking about how you spend your life, feel free to get in touch for a chat about your own financial wellbeing. Remember folks, creating meaningful memories beats accumulating ‘stuff’.

You can contact us or 0131 220 0000.