Americans would rather go into debt paying for an experience over buying material things

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DALLAS -- Money flies when you're having fun. And apparently, as long as it's for a good time - Americans don't mind!

According to a new study in the Journal of Consumer Research, people would rather go into debt paying for an experience, like a vacation or a concert, than for material things.

Life coach Psyche Terry joined Morning Dose, Thursday, and said that it's all because of social media.

"It's because of Facebook, it's because of Instagram... it's a whole other thought process. To show that we're having a good time," said Terry.

But she says it's not necessarily a bad thing. "If your spirit is feeling good, and you're enjoying the action that you're taking with that cash - I say go do it."

And while people should have fun, Terry says it's important to be wise. "If you can't afford that trip in the next 30 days, then bring-it-in honey, and do not go," she said.

Now we're all for spending a little extra cash for a good time, but we've gotta ask - do people actually care about the experience, or is it all for their next post on social media?

That's something to think about!