Money can’t buy happiness, but it could buy the vacation of your dreams. Or your dream car. Will these give you long-term joy?  

Scientists say, if money doesn’t buy you happiness, you’re not spending it the right way. Handling money creates an experience of euphoria that can last for hours, but getting hung up on consumption isn’t effective in the long term. Spending money on gadgets and possessions will give immediate gratification, but won’t last long. Happiness spikes right after the purchase, but after a while, you may feel even worse than before.  

However, spending money on experiences, like trips, will have a greater impact on your happiness over time. How? Every time you share the story of the memory you created, it makes you happy. Or if you love skiing, and you buy new skis that you could use to create memories with your loved ones, these skis will “pay dividends” on your happiness over time. It’s a long-term investment in your happiness. A good question to ask yourself is if the purchase you’re making will bring you greater wellness. Watch the full episode of #YourBrainOnMoney to learn more!