From: The University of British Columbia
Published July 24, 2017 04:17 PM

Using money to buy time linked to increased happiness

New research is challenging the age-old adage that money can’t buy happiness.

The study, led by researchers at the University of British Columbia and Harvard Business School, suggests that using money to buy free time— such as paying to delegate household chores like cleaning and cooking— is linked to greater life satisfaction.

“People who hire a housecleaner or pay the kid next door to mow the lawn might feel like they’re being lazy,” said study lead author Ashley Whillans, assistant professor at Harvard Business School who carried out the research as a PhD candidate in the UBC department of psychology. “But our results suggest that buying time has similar benefits for happiness as having more money.”

The researchers surveyed more than 6,000 adults in the United States, Denmark, Canada and the Netherlands. Respondents were asked if and how much they spent each month to buy themselves free time. They also rated their life satisfaction, and answered questions about feelings of time stress.

Read more at The University of British Columbia

Photo credit: Brett_Hondow via Pixabay

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