Holidays provide long term benefits
23/06/2010
Spending money on a holiday is likely to result in greater long term happiness than buying a car, The Telegraph has reported.
According to research published in the Journal of Personality and Social Psychology, experiences such as travelling provide long term satisfaction through memories of the experience itself, whereas the buzz from owning a new item fades quickly.
While material possessions can lose their lustre when compared to similar items owned by other people, experiences are likely to have a personal connection, and are therefore more difficult to compare.
Professor Thomas Gilovich, who carried out the research, commented, “Your experiences are inherently less comparative. They’re undermined much less by individious social comparisons.”
Purchasing travel insurance can have excellent benefits in the long term should an incident occur whilst you are away, and high quality, low cost cover is available from Virgin Money.
