The value of money is often immediately associated with the ability to lead a more materialistic lifestyle, which is likely how the phrase “money can’t buy you happiness” originated.

The truth of the matter is that money can buy you happiness if you use it to create life experiences that you can fondly look back on even long after the moments have passed. The mind can often become ‘fatigued by’ (or bored with) a physical object after some time. This essentially makes us less satisfied over time with an item that was once very appealing.

On the other hand, money spent on trips to new places, artistic events or even new educational opportunities generate lasting memories in our mind, which are capable of contributing feelings and emotions even long after the experience has finished. So next time, think twice about an expensive bag or the latest smartphone you may not actually need. Instead, use the money to build an experience.