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Forget what you’ve heard in the past — money can indeed buy you happiness, say experts Michael Norton and Ashley Whillans.
Here are three ways to buy happiness.
And while money can get in the way of that — if you work all the time at a job you hate, for example — spending money on things that foster those goals actually does increase well-being.
“When you ask people the secret to happiness, they talk about living with purpose or having close relationships,” says Norton.
“It’s what you do with it,” Norton, a Harvard Business School professor and co-author of “Happy Money: The Science of Smarter Spending,” tells CNBC Make It.
three ways money could purchas you happiness
Across a range of incomes, careers and countries, timesaving purchases were correlated with less time-related stress and more positive feelings.
Yet the researchers’ surveys showed that very few individuals think to spend money in this way.
Across all surveys, life satisfaction was typically higher for people who regularly spend money to save time.
This adds to a growing body of evidence showing that “people don’t spend their money to yield the greatest happiness,” he said.
To directly test whether timesaving purchases can boost happiness, the scientists in the latest research recruited 60 working adults in Vancouver and gave them $40 on each of two consecutive weekends.
collected by :Frank Ithan