Buy more good times than good things

Illustration: Jen Troyer

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Jack Otter, executive editor at CBS and author of Worth It...Not Worth It?: Simple & Profitable Answers to Life's Tough Financial Questions, says that very few people look back on their lives and regret the things they didn't purchase. Behavioral economists have found you get a lot more pleasure from buying experiences (i.e., a week at the beach) versus buying stuff (like that couch); the memory gets even rosier over time.