“We found that participants were less satisfied with their material purchases because they were more likely to ruminate about other options they might have chosen,” authors of the study wrote.

In one test, participants were asked to recall one material purchase and one experiential purchase of equal value. They rated their purchases on level of importance, past and present satisfaction and regret. Each time, experiential purchases were ranked more important and more satisfactory.

Researchers think this may be because it is more difficult to evaluate material choices foregone than experiences missed. They say there is likely to be a hint of remorse in any decision, but it is much more distinguished when buying things that can easily be replaced.

“Mentally exchanging an experience involves deleting a part of the self, something that people are understandably reluctant to do,” authors of the study explained. “(They) tend to be experienced, remembered, and evaluated more in their own terms, and less in terms of how they compare to alternative experiences.”

As for that tax return, consider carefully before committing to a new ottoman. A happier you is a healthier you, and a weekend getaway might be the ticket (no pun intended). If you can’t quite budget a vacation in Venice or a tour of Tahiti, a movie or dinner out will do.

The study can be found in the Journal of Personality and Social Psychology.