Experiences or Possessions?
Rajendra Patel (ICF, IIML)
2024 Global Recognition Awardee l Group GM Marketing - BYLD l Editor - Excellence Newsletter??Columnist - The Business Influencer Magazine, UK
In India, there is a long-standing tradition of valuing experiences over stuff. This is represented in the Hindi saying "Jeevan mei anubhav hi anmol hai," which translates as "Experiences in life are priceless."
There are various reasons why experiences may be more significant than stuff for pleasure in India. First, India is a collectivist culture, which implies that relationships and social connections are highly valued. Spending time with family and friends is an excellent approach to deepen these bonds.
Second, India is a country with a rich history and culture. There are several possibilities to learn about and experience India's rich heritage through travel, festivals, and cultural events. These encounters can help people feel more connected to their culture and create a feeling of self-worth.
Finally, India is a vast populous developing country. Many individuals in India are impoverished and lack access to essentials. In this sense, experiences such as spending time with family and friends. When it comes to increasing your happiness in India, one of the finest ways to do so is to spend money on experiences.
According to a study conducted by Leaf Van Boven and Thomas Gilovich, individuals in India are happier when they spend money on experiences rather than stuff. This is true for people of all ages, socioeconomic origins, and educational levels.
In addition, the study discovered that experiences are more memorable and important than possessions. This is because our experiences are frequently shared with others and can help us learn and grow. Possessions, on the other hand, are frequently taken for granted and lose meaning over time.
According to the findings, experiences are a more important source of happiness than goods, particularly in India. If you want to increase your happiness in India, we recommend focusing on activities that you enjoy and that connect you with others.
Here are some ideas for developing happiness-inducing experiences in India:
Spend time with family and friends (or take them out!).
Travel to different places of India to discover its rich culture and heritage—it's no longer only about visiting museums or monuments!
Participate in cultural activities...
Experiences make us happy, but is there a distinction between them and tangible objects? According to a University of Rochester study, people are happier after making an experienced buy (an experience) rather than a material purchase (a material product). The University decided to put this notion to the test with another experiment.
The key to happiness is to do things rather than buy them.
Researchers provided participants with?a list of events and asked them to write down the one that made them the happiest in the first trial. The findings revealed that consumers preferred the experience over the material object.
In the second experiment, researchers presented participants with a list of objects and asked which one they would be more inclined to buy. People were more likely to buy an experience than a material product, according to the findings.
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The findings imply that experiences can make us happier than material items, although this is not true for everyone. Some people enjoy purchasing material goods, but experiences are just as excellent, if not better, at making us happy.
When you visit India, you see how much time people devote to the issue of things. People are strolling around with their noses buried in their phones or tablets, pecking away at their screens as if they were engaged in some kind of complicated calculus. People are continuously conversing on the phone, texting, and emailing one another. It's as if everyone uses their body as an extension of their smartphone—and it can be difficult to get anything done when you're constantly checking for updates on your social media accounts or sending out messages to create new acquaintances.
The age-old dispute over experiences vs stuff is complicated, and there is no simple solution. However, in the setting of India, home to some of the world's wealthiest people, the issue takes on a new dimension. On the one hand, it's easy to understand why the wealthy are lured to stuff. After all, they can afford the most expensive clothes, automobiles, and residences. These goods can create a sense of status and prestige while also providing delight. The wealthy, on the other hand, can have experiences that most people can only dream of.
They can travel the world, dine at the finest restaurants, and attend the most exclusive events. These experiences can be just as satisfying, if not more so, than possessions, and they can also bring a greater sense of contentment. In the end, choosing to?prioritize?experiences versus stuff is a personal choice. However, in the context of India, where the wealthy have the capacity to do both, it is an important subject to examine.
Here are some possible narratives about the age-old debate about experiences versus things, particularly considering India's wealthiest citizens.
A young woman from an affluent family is divided between her parents' expectations that she marries a wealthy man and her own ambition to travel the world and have new experiences.
A prosperous businessman chooses to sell his firm and use the proceeds to sponsor a series of charitable projects that would improve the lives of others.
A retired couple uses their unexpected money to travel the world and immerse themselves in diverse cultures.
How can we avoid mentioning billionaires in India when discussing possessions?
For example, if you're on a trip with your millionaire friend, you can take advantage of the opportunity to go on activities that are only possible due to?their wealth. You could go scuba diving on the Great Barrier Reef or ride an elephant across Africa.
You might also spend time with them in their home and learn about their passion for art and design. Alternatively, you may go shopping together at a fancy department store like Dilli Haat or Liberty House.
The idea is, don't be concerned about what billionaires do with their money—just enjoy it!
Possessions are nice, but it's the people you meet, the things you do, and the places you visit that make life worthwhile.
Finally, it's all about the experiences. Agree?