Science proves it: Money really can buy happiness

[+Mirumir Subscriber¹]

 

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Science proves it: Money really can buy happiness

 

They say money can’t buy happiness, but science begs to differ.

 

An international research team has demonstrated that you really can make yourself happier by paying other people to do your time-consuming chores.

 

It doesn’t matter whether you’re rich or poor, the new study suggests. If you feel pressed for time, your life satisfaction can be improved by trading money for minutes that you can use as you wish.

 

The researchers, led by Ashley Whillans, a new 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.”

 

In 28% of cases, the answer was yes. These folks spent an average of $147.95 per month to buy themselves extra time.

 

What they lost in currency, they made up for in happiness. Whillans and her colleagues found that 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.

Just in case their original question was too narrow, the researchers conducted a second survey that asked more than 1,800 Americans whether they spent money to buy themselves “more free time.”

 

This time, half of the survey-takers answered yes. These folks spent between $80 and $99 per month, on average, so that others would handle chores like cooking, shopping and “household maintenance.”

 

 

[Doli]

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An international research team has demonstrated that you really can make yourself happier by paying other people to do your time-consuming chores.

...by paying other people (or using free Interns) to do the research for them so they could have free time to do as they wish.

[Tuskd]

So in other words, time is money

[Yogurth]

Did it really take an entire Science team or division to come up with this conclusion? Now, those guys made someone really happy

[+Mirumir Subscriber¹]

21 minutes ago, Tuskd said:

So in other words, time is money

Exactly, and if you can convert your money to get yourself some more "free" time, you become a happier person.

 

11 minutes ago, Yogurth said:

Did it really take an entire Science team or division to come up with this conclusion? Now, those guys made someone really happy

They now have empirical data to back up their conclusion.

[+Mirumir Subscriber¹]

I'm thinking about swapping my condo apartment to another one situated closer to my place of work.

 

If I can save an hour on commute each day, this would result in a saving of 260 hours each year, 10 days per year, 108 days per 10 years, or roughly 3 months - time I'd be able to spend with the family instead of being stuck in traffic.

 

My quality of life and happiness would surely improve.

[Tuskd]

1 hour ago, Mirumir said:

I'm thinking about swapping my condo apartment to another one situated closer to my place of work.

 

If I can save an hour on commute each day, this would result in a saving of 260 hours each year, 10 days per year, 108 days per 10 years, or roughly 3 months - time I'd be able to spend with the family instead of being stuck in traffic.

 

My quality of life and happiness would surely improve.

Depends on the money too. I have to travel 2 hours everyday but the closer I want to get to my place of work, the price of staying there increases exponentially. Therefore I utilize the travel time to do things for music, news, etc. Staying far away also means that I get up early for work so that means by habit I get up earlier on weekends too, which means I could have more free time during the weekend.

[+Nik Louch Subscriber²]

2 hours ago, Mirumir said:

I'm thinking about swapping my condo apartment to another one situated closer to my place of work.

 

If I can save an hour on commute each day, this would result in a saving of 260 hours each year, 10 days per year, 108 days per 10 years, or roughly 3 months - time I'd be able to spend with the family instead of being stuck in traffic.

 

My quality of life and happiness would surely improve.

You've left an awful lot out of that equation.  It is based upon ALL other factors remaining constant.  The new area being as peaceful, crime free, social, etc as your current one.  I can't comment either way, but the equation itself, while maybe true, is incomplete.

 

However, as someone with a good amount of disposable wealth, yes it can buy certain types of happiness. I am happiest when travelling, going out with friends, treating my family and so on - all of which require funds to some extent.