This post is from our regular contributor, Erin.
We all know that spending on experiences usually makes us happier, right? If not, you can read up on several studies that highlight why.
I’m sure you can think of a few of your own examples, though. Does buying a new phone or new clothes make you as happy as going on vacation with family, or having an awesome night out with your friends?
Probably not.
By now, regular readers are aware I’m 100% on board with meaningful spending. I believe spending on experiences is basically as meaningful as you can get.
Regardless of price, I’ll likely never regret spending on experiences, but it’s a different story when it comes to material items.
That’s why we’re taking a look at 5 experiences worth spending money on. Chime in with yours in the comments!
1) Travel
Of course, I have to mention travel first, because it’s usually the first thing people think of when experience comes up.
The feeling of being in a new country on your own, immersing yourself in a different culture, eating foreign food, and trying to learn a new language – these are all unique experiences on their own.
“Travel” doesn’t have to equate to wanderlust, either.
Traveling back home to visit family and friends is still an experience, even if it’s a slightly different type.
Heck, traveling to a neighboring state still provides you with an experience. You don’t have to spend a ton to change your surroundings.
Keep what you want to get out of your travels in mind, too. Are you looking to relax, to explore, or do a bit of both? The experience you have will largely depend on the purpose of your travels.
2) Concerts
This wasn’t one I personally believed in until recently.
Don’t get me wrong, I absolutely love music (and chair dance frequently while I’m working), but listening to it live never appealed to me.
However, when I found out a group I’ve listened to for the past 10 years was coming to a city near me, I jumped at the chance to buy tickets. I had heard they put on an excellent show, and I wasn’t disappointed.
The atmosphere ended up being incredible, and there’s no way to properly describe it. It’s something you had to feel – it was its own experience.
Music often bonds people in an amazing way. There’s a lot of emotion behind it, and it’s universal.
So if you’re like me and didn’t understand the big deal about seeing your favorite band or artist perform live, give it a shot.
I walked away with my ears ringing, but no regrets.
If live music in a formal venue isn’t your thing, you can always check out local festivals!
3) Conferences / Conventions
When I say conferences and conventions, I don’t just mean industry specific events where you primarily go to network and learn.
There are so many different types out there, you’re bound to have a unique experience at each, depending on what the purpose of the conference/con is.
For example, back when I was in college, I was part of the History Club on campus. We were allowed to go to a history conference for teachers, all expenses paid.
While it was interesting, it leaned heavily on the educational side. My friends and I stuck to our own little group. We weren’t there to network.
My second conference was FinCon, the conference for money media nerds. That was a mix of everything from learning to networking to dancing and drinking. It was a lot of fun, and it was great to connect with everyone that went.
I’ll be attending a convention this summer that’s much larger than either of those two. It’s specifically for one company, and it’s basically a big community event. There won’t be any networking, just fun times being had and meeting new people with a common interest. (Think Comic-Con.)
Each of these is rewarding in its own way. Conferences can be an opportunity to meet others in your field, to learn and invest in yourself, or to enjoy a specific community you’re a part of.
4) Something On Your Bucket List
Do you have a bucket list full of crazy things you want to accomplish before a certain age? Why not cross a few things off every year?
I actually haven’t thought about creating a bucket list, but it’s a great way to get focused on what experiences you want to have. If it’s amazing enough to be on there, you know it’s worth spending the money on.
Something I did that was “out of the norm” was ride a jet ski a few summers ago. The idea always appealed to me, and even though it was technically a touristy thing to do, I’m glad I did it.
It was actually a lot of fun, and very worth the money I spent for 2 hours out on the ocean. Even though I fell over once or twice. Moving on.
If you’ve ever wanted to do something a little crazy, like skydive, learn how to fly a plane, attend a big sporting event, start saving up for it and make it happen!
5) Weekend Trips With Friends
I view this a little differently than travel, because the purpose isn’t specifically to travel, but to hang out with friends somewhere new.
My personal example is going on a ski trip with a bunch of people. It was an absolute blast renting a house all to ourselves in the middle of nowhere. We could be as loud as we wanted to be at night (and believe me, that was taken advantage of), and during the day we got to hit the slopes and have fun trying not to ski off the mountain (maybe that was just me).
Get together with your friends and think of a trip you can do annually. It gives you all something to look forward to every year.
I can’t begin to tell you how many inside jokes came out of that one weekend away, and they were referenced throughout the year. Even though it was pricey, it was definitely worth it from all the memories that were made.
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Now, I know there are some people who will say that buying items can provide experiences, and I agree. There are many things we can buy that can be used as tools to have an experience. For example, we can buy books, games, or movies as an escape to another universe. There’s nothing wrong with that!
But if you want to ditch spending so much on everyday things and spend on something that’s going to give you more ROI instead, try these five ideas out!
What’s the best experience you ever paid for? What other ideas would you add to this list?
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Can’t argue with any of these suggestions Erin, especially the travel! I also just enjoy spending money on most experiences that involve good company with friends or family, like a drink, a meal, or an activity. It’s never usually about what you’re spending the money on – it’s the interaction with someone that’s really worth it. And if you can afford the kindness of paying for someone else, that’s also a pretty nice experience :)
The best experience I ever paid for was hands down Space Camp. I had to save up for it myself and it was the experience that showed me my calling was as a flight controller for NASA. To some kids, it was just a camp. For me, it was like career counseling for a sixth grader.
I’d say spending on our hobby of hiking is something I’ve always thought was a great expense. It’s not super pricey, but, we did have to buy gear initially and there’s the cost of a tank of gas to get to the trailhead. Worth it every single time for us!
Spending on experiences is one of my favorite themes. Family trips are definitely one of them. We are taking a short one this week!
I’d add to what Mrs. FW said – if you have one particular hobby you really enjoy then it can make sense to spend money on that as well. We do many of these in our family, we were discussing concerts last night actually. They can definitely get up there in price, but if it’s going to be a good act then it can definitely be worth it.
Travel is definitely at the top of my list too. Part of my student loan debt is from a study abroad trip I did in Ireland for a month one summer and I’ll never regret it. I paid for half of the trip in cash and took out loans to cover the rest but it was a really unforgettable experience, so definitely worth it to me.
I’ve always thought of spending on sports as being “experience spending.” These days, its more like $20-$50 for a league and new cleats every few months, but when I was playing tennis I was happy to spend the money on tournament entrance fees and court time in the winter to get the chance to play. I hope my son likes sports so we can share athletic experiences together.
I love everything on this list. I am a firm believer in making memories over materialistic items! Any chance of travel – whether to see friends, family or experience something new – is worth it in my book! I also feel that anything that can improve my life for the better and/or long term is worth the price, whether it’s attending a blog conference (on my bucket list) or investing in running shoes for my health!
Good list. I’ve never really been big on live music, but I can’t say I’ve truly experienced it with a group/band that I really like. I guess if you’re a big sports fan, watching a playoff/championship game live would ranked up there. I would say some of the most memorable times were weekend trips with friends.
We just got back from a wonderful family vacation, so travel is high on our things we are willing to pay for experience list!
All these things are worth spending money on! I would much rather spend $ on experiences instead of things. I actually hate stuff.
Jason@Islands of Investing Definitely agree, Jason – it’s usually the people that make the experience fun! I also think studies have mentioned paying for others and being able to give them an experience leads to happiness.
indebtedmom That sounds awesome! I remember going on field trips to science museums and being fascinated with space, so I can’t imagine actually getting to go to Space Camp.
Mrs. Frugalwoods I think hobbies with initial investments that are frugal from there on out are pretty great! The cost per use evens out with time. Plus with hiking, you’re investing in your health!
Mark@BareBudgetGuy Nice, I hope you all have fun!
FrugalRules Yep, hobbies are definitely their own experiences. I’m all for making the most out of our time, and sometimes that means making investments in things we care about! Concerts can definitely get pricey when a few people are going, but they do create a lot of memories.
Chonce I am totally jealous. I’d love to visit Ireland some day! Study abroad programs sound so interesting and unique, but my college sadly didn’t offer them.
Hannah UnplannedFinance Playing sports is definitely an experience, especially if you love practicing and competing. I like the point about hoping your son enjoys sports, as sharing that with someone is even more meaningful. I still remember my dad helping me with soccer practice back when I was 5!
believeinabudget Yes, spending money to improve our lives over the long term is a great investment. I think this is where the argument of money buying happiness can come in. =)
Andrew LivingRichCheaply I agree – weekend trips with friends are the best, especially if you have a large group of people. As long as it stays drama free, of course. ;)
DebtDiscipline I hope you had an amazing time!
holly3 I’m kind of beginning to get there myself. I know I’ve been guilty of thinking travel would be out of my budget, but the key is cutting back everywhere else so you can spend on what’s important!
I completely agree with this list!! My hubby and I traveled to Napa for our one year anniversary and 11 years later, it still remains one of the greatest trips I ever went on and every dime that we spent was well worth it for all of the memories. We still giggle over the fact that we had too much to drink one day and ended up sleeping through our dinner reservation.
We definitely do everything on the list. Family travel is always very fun and memorable for us. We’ve also been enjoying more concerts lately. I took Lauren to see Katy Perry last year. She had such a great time and I had a great time watching her enjoy herself. Memories are priceless and a great investment.
Travel for sure, and I don’t regret any of the concerts I went to in my 20’s. Great memories!
My favorite part of experiences is the effect of nostalgia. Memories get better over time (i.e. – I now believe things really were better in the nineties, so long as I don’t pull up youtube and listen to the pop music I loved back then, or try to find old episodes of Saved by the Bell).
Just make memories. They’re an investment in happiness.
Your list is great. All of those experiences are worth the money. I have 2 experiences that I consider the best that I’ve ever paid for. The 1st one was my cross-country trip that I completed in July 2013. It changed my life for the better. I have so many memories from that trip.
The 2nd experience was getting to see Outkast in concert last September. It was the best concert that I’ve ever went to.
blonde_finance Haha, that’s when you know the trip was worth it, right? The honeymoon and anniversaries seem to be one area people don’t want to skimp on, and I can’t blame them!
ShannonRyan I remember the handful of concerts I went to when I was a teenager. All I can say is, I really appreciate my parents sticking through those shows as it was not their type of music! I’m glad you two enjoyed the Katy Perry concert!
Beachbudget You’re definitely a great example of someone who prioritizing spending on experiences. =)
DonebyForty I definitely think bit about nostalgia is true – though I disagree on the music. ;) It’s so much fun to go back and reminisce about awful songs we used to love (and sometimes sing them).
Jason @ The Butler Journal A cross-country trip sounds like a lot of fun! I do think traveling can make a huge difference in our lives, especially when we get to experience different cultures. I had no idea Outkast was still around/touring!
Erin @ Journey to Saving The cross country trip was the best 2 weeks of my life. I’m saving up so that I finally use my passport and experience a different culture.
I completely agree with all of these! Especially traveling…that to me is one of the most meaningful things you can spend money on. I think our honeymoon to Aruba a few years ago was the best experience we ever paid for…it was truly the trip of a lifetime :)
Definitely agree on spending money on experiences over stuff.. It’s like I wrote this article myself ;) haha..
Concerts are great as well and time with friends is definitely invaluable. Even running around the park or playing sports with friends can be great although not exactly requiring much spending! :)
I have almost never regretted a dime spent on travel. Sometimes we have to spend on things we didn’t plan on while on a trip, but somehow that adds to the adventure. Our best experience purchases from this past year had to be the National Parks Pass, skiing with the family, and taking a gold mine tour. All very different but things we’ll talk about and remember for years.
Christina@EmbracingSimple That sounds so nice! My grandma has talked about how much she loved Aruba many times, and she was quite the traveler when she was younger. Just reinforces my belief I need to get out of the country and explore!
mycareercrusade Yep! Some of my most fun summertime memories are going to the park and playing frisbee with friends. It was nice and laid back, and a great way to enjoy the weather.
Eyesonthedollar That’s definitely true – it’s always a hassle when something is forgotten or lost and you need to pay for it while away. But you’re right in that it can add to the adventure. The National Parks Pass sounds like a great deal; it’s great there’s so much variation in your trips!
I would definitely like to do more traveling. As soon as we figure out some medication issues and actually have money for it. (Any day now…) We’re old and boring, so we’ve pretty much avoided concerts. But if a comedian we really liked came through, we’d splurge on that.
AbigailP There are definitely other forms of live entertainment besides concerts that are worth the money! I actually went to see Conan live once, and it was fantastic.
We can’t really afford to spend on travel just yet, but it is a huge motivating factor to us as we pay off debt and build up assets. Our goal is to take the family on a cross-country road trip when we turn 40 (7 years from now). We love chatting about RV’s, routes, and destinations to keep ourselves focused on not spending money right now.
I see that lap dances did not make the list?
Great ideas, but i would suggest a lap dance would rank right up there with a concert. Or a visit to a National Park.
Harmony@CreatingMyKaleidoscope That sounds like a lot of fun! It’s something I’ve thought of as well actually. I’d really like to see more of our country as I haven’t really left the east coast, with the exception of going to New Orleans.
No Nonsense Landlord Ha, no, that didn’t cross my mind. I would really love to visit a National Park, though!