Rule No. 4: Get Off the Hamster Wheel
One of the most wealth-destroying errors we all make, Ariely says, is buying more stuff in the belief it will make us happier. But does it?
No, and it’s easy to see why: We adapt quickly to new things, so after a while they become unexciting—like a pricey new sports car that turns into nothing more than the ride that gets us to work.
To avoid that, spend on experiences, not stuff. Ariely, for example, is looking forward to a trip to Antarctica with his wife that he booked a year ago. They’ll have a great time, and it won’t last so long that they’ll get bored by penguins.
When they come home, they’ll have great memories—and that’s something they’ll never find parked in a driveway.
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