This little article caught my eye: an economist (Garett Jones) notes that that people make decisions about their vacations in much the same way that they make decisions about durable goods (things like cars and refrigerators). But here's the part that really resonated with me: if your memories are a durable good, then you should “buy” as many of them as you can when you're young – because then you've got your whole life to enjoy them.
I never have actually thought about my memories as a consumer durable :-) However, I certainly have treated them in the way Mr. Jones recommends, and I've taken some heat for this over my life. Debbie and I have (very) freely spent on our vacations, our animals, and other cherished experiences – even when we couldn't really afford to do so. I've never regretted doing that (though I've often been criticized for it), and the main reason why – is precisely the memories Mr. Jones speaks of. We've had a great many adventures in our lives, and the memories of them (and of course the broadening experiences) are priceless to us.
As I write this, I can't help but enumerate some in my mind. The ones that jump out: walking on the rim of an active (and erupting!) volcano in Hawai'i, skydiving, scuba diving in the Philippines, our many companion animals over the years, two weeks on a motorcycle in the back country of Australia, four wheeling in the San Juan Mountains, touring through the Baltic islands of Estonia, four wheeling on Mauna Kea in Hawai'i with my parents and (separately) my mother-in-law, and exploring Costa Rica (especially Mt. Arenal and Monte Verde). Some of these adventures were almost 40 years ago – and Mr. Jones point about the time value of them is spot on...
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