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Money Really Can Buy Happiness


It is often said that money does not buy happiness.  Of course, it depends what you consider happiness.  If your happiness is in not doing mundane things, such as working on “honey-to-do-list”, then having money does help.

According to an international research team, you really can make yourself happier by paying other people to do your time-consuming chores.

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The researchers, led by Ashley Whillans, a professor at the Harvard Business School, began with survey data from nearly 4,500 people from the United States, Canada, Denmark and the Netherlands. Survey-takers were asked whether they paid other people to do “unenjoyable daily tasks” in order to “increase their free time.”  The study was published Monday in the Proceedings of the National Academy of Sciences.

In 28% of cases, the answer was yes. These folks spent an average of $147.95 per month to buy themselves extra time.  The people who traded money for time were more satisfied with life than their counterparts who didn’t. They also were less likely to say they felt “time stress,” a condition that was linked with lower levels of life satisfaction.

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In essence having extra money enables you buy happiness.  The study indicates that people are willing to spend on “time-saving” purchase so they do not have to be stressed by doing mundane things.  People tend to have more positive feelings when tasks are accomplished without their own hardship.  Believe it or not, in enhances daily mood which in turn, promotes greater life satisfaction.

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In essence, money does buy happiness.