Good news for the planet and your wallet...

New research shows the path to a contented life is through new experiences, rather than the acquisition of more stuff.

Contrary to what advertising executives would have us believe, a study carried out by psychologists at Cornell University, USA has found that investing in experiences, rather than things, gives you more bang for your buck in the happiness stakes.

According to the study, material possessions bring us initial happiness but this emotion wanes as we realise a friend or neighbour has a newer, bigger, better or shinier version of what we just bought, or that we could have got a better deal from a different store.

On the other hand, new experiences like completing a challenging bushwalk with friends, starting a community garden, or getting up the confidence to ride a push bike between work and home leave us with a sense of satisfaction that can increase rather than decrease over time as we reflect.

As professor of psychology Thomas Gilovich, who published the study with Travis J. Carter, Ph.D. explains in the Cornell Chronicle "Your experiences are inherently less comparative, they're less subject to and less undermined by invidious social comparisons." This is because experiences are our own. Our experiences become our memories shaping our character and outlook on the world.Material goods are different, they are not truly unique to us, just something we possess.

Keeping in mind all the waste we produce in this era of gadgetry and hyper-consumerism the finding that happiness is a 'no purchase necessary emotion' is good news not only for your bank balance but for the planet too.