Yes, you can buy happiness – if you spend it to save time

Yes, you can buy happiness — especially if the money saves you time.

People who dole out cash to save time on things like housekeeping, delivery services and taxis are a little bit happier than those who don’t, new research finds.

Researchers surveyed more than 6,000 people in four countries and also ran an experiment, giving people $40 for two weeks. One week, they had to buy something material, like a shirt. The next week, they paid to save themselves time. People said they felt happier after saving time than buying stuff.

“Money can buy happiness if you spend it right,” said University of British Columbia psychology professor Elizabeth Dunn, co-author of a study in Monday’s Proceedings of the National Academy of Sciences.

The right way is paying someone else to do the time-consuming drudge work that you don’t like, said study lead author Ashley Whillans at the Harvard Business School. When people do that, they report feeling greater life satisfaction in general and happier that day. But when they buy material objects, it tends not to bring people the happiness they expect, she said.

Lynda Jones, a retired critical care nurse in Indianapolis, has been hiring a housekeeper since she got out of college and said it’s the one thing that kept her from burning out in the high stress job. Now she also has a grocery delivery service.

“It’s really not that expensive when you think about what my time costs,” Jones said Monday. “You can always get money. You can’t buy back time.”

Earlier research found that using money to help others or have good experiences — like a spa day or travel — also make people happier than buying things, Dunn and Whillans said.

The survey was done in the United States, Canada, Denmark and the Netherlands. Except for the U.S., the countries rank near the top of global happiness reports. In general, buying time increases Americans happiness about 0.77 on a 10-point scale, with similar increases in the other countries, Dunn said….

Read the full article at the Original Source..

Back to Top