For years, success came with a shopping list: a bigger house, a newer car, the latest phone and a closet that could prove you were doing well. Now, that definition is starting to look different. Especially among millennials and Gen Z, more people are spending their money on experiences rather than possessions.
Instead of buying more things, many are choosing to travel, attend concerts, book wellness retreats, or create meaningful memories with family and friends. Material possessions still have their place, but for many people, the moments they create now feel more valuable than the things they own. So, what’s driving this shift?
The Shift from Owning More to Living More
That shift is showing up in consumer research, too. A 2025 Mastercard survey found that 43% of Brits prefer spending their money on experiences such as concerts, travel and dining out, compared with 26% who prefer material goods. Among Gen Z respondents, 83% planned to complete a dream experience in 2025, compared with 75% of millennials. American attitudes track closely: a 2026 Harris Poll conducted for Marriott Bonvoy found that two-thirds of Americans are prioritizing experiences like travel over material purchases this year, with millennials showing the strongest pull; 70% said they’d rather skip dining out for six months than give up a vacation.
Modern lifestyles are gradually changing the way people live. More people are asking themselves: “How do I make the most out of my life?” instead of “What should I buy next?” With greater awareness of mental health and flexible work arrangements, more people are exploring small side quests that make everyday life feel bigger instead of chasing possessions.
This mindset shift ties closely to becoming intentional about what you actually want out of life. For some people, it means taking that trip they’ve always dreamed of, learning to speak that new language, taking a cooking class, or spending quality time with loved ones. The goal is simply to enrich life with meaningful memories.
The Science: Why Experiences Make Us Happier than Possessions
That preference shows up in more than survey data. Experiences also shape our lives in phenomenal ways, offering more lasting satisfaction than new shoes, phones, or even luxury handbags that lose their shine fast. A fun day volunteering, a memorable holiday, or even participating in a race gives us greater satisfaction than new gadgets ever could.
A landmark 2003 study by psychologists Leaf Van Boven and Thomas Gilovich, published in the Journal of Personality and Social Psychology, found that people consistently reported greater happiness from experiential purchases than material ones, with 57% of respondents saying an experience brought them more joy compared to 34% who said the same about a material purchase. A 2014 follow-up review by Gilovich and colleagues in the Journal of Consumer Psychology found that experiences also outperform possessions because they’re harder to directly compare to what other people have, which can reduce some of the unfavorable comparisons that often accompany material purchases.
Experiences also strengthen relationships. Whether it’s a family vacation, road trip with friends, or celebrating a milestone together, shared memories create stronger emotional bonds than exchanging expensive gifts.
Psychologists describe this as hedonic adaptation. It refers to our tendency to become accustomed to new possessions over time, causing the initial excitement of buying something new to fade. Experiences, on the other hand, often continue to bring joy because people revisit them through memories, stories, and the personal growth that comes with them.
Financial and Lifestyle Benefits of Choosing Experiences
You don’t necessarily need to spend more money when choosing experiences. Instead, it often encourages you to spend intentionally. So, instead of constantly upgrading to newer versions of the same product, you can invest in your physical health or personal development. Skip the next phone upgrade and put that money toward a painting class or a weekend away instead, something that actually sticks with you longer than a new phone case ever will. With this mindset, you can reduce clutter at home and stop unnecessary spending.
How Social Media is Fueling the Experiences Movement
Social media has played a huge role in reshaping what people buy and why. Social media can make people want the designer bag, the new car and the picture-perfect home, but it can also make a weekend trip, concert or dinner reservation feel like the wisest use of money. The difference is often what people want their money to say about them.
This shift has its own name on social media. In late 2023, comedian and writer Lukas Battle coined the term “loud budgeting” in a TikTok video, describing it as the opposite of the “quiet luxury” trend that had dominated the year before. Rather than quietly overspend to keep up appearances, loud budgeters openly turn down expensive plans in favor of the ones that actually align with what they want, a mindset that dovetails directly with choosing meaningful experiences over another purchase.
You can now see travel destinations, cultural festivals and other unique adventures all over the world. Creators are also promoting intentional living and mindful spending. All of these are helping people prioritize memorable moments over items for a happier life. At the same time, social media has created a hidden pressure to chase such activities for public validation, rather than genuine experiences. The best approach is to choose what you truly care about, not just something for the views and likes online.
How to Start Prioritizing Experiences in Your Own Life
You don’t need a huge budget to start prioritizing experiences. You can start small by setting aside a portion of your monthly income for activities instead of impulse purchases. Choose to attend free cultural events, visit museums, learn a new skill or plan affordable weekend trips. Something as simple as sharing a new recipe with family or a phone-free picnic at the park can create lasting memories. Most times, it’s the people we spend time with that make our experiences more memorable, not how much it costs.
Potential Downsides and How to Balance Both
Choosing experiences over possessions doesn’t mean you have to let go of physical things completely. There are still some essential purchases like quality furniture, reliable technology and practical household items. However, constantly chasing expensive trips or events can become unhealthy spending, especially if it’s for online validation. The goal is to find a sweet balance. Intentionally invest in items that improve the quality of your life, and choose meaningful experiences.
Final Thoughts: Is the Experiences Era Here to Stay?
The growing preference for experiences over things reflects a larger shift in how people define happiness and success. Instead of measuring wealth by the number of things they own, many people now measure it by the memories they’ve created and the places they’ve explored.
Possessions still have their place, but experiences have the strongest impact because they shape our life stories and strengthen our relationships with others. Maybe the shift isn’t really about choosing experiences over things. It’s about becoming more deliberate about what deserves your money, time and attention. A new handbag can feel good, but so can a weekend with people you love. The difference is knowing which one you’ll still care about long after the receipt is gone.
