CNN just published this article based on a report that came out a while ago stating that buying things has less influence of happiness than life experience does.
I agree. I like to buy new things (gadgets are my weak point) but after a while, the gadget becomes a part of my life and I no longer think about it as something I derive happiness from. Experiences, however, last for a long time and can be recounted anew and worked into conversations for the rest of my life. They also change your perception of how things work in the world and this makes a huge difference.
Study: Experiences make us happier than possessions – CNN.com