Can money buy happiness? – Benchmark – Laboratory Removals
According to a scientific study, money can really buy happiness. However, not in the way you might expect. The study suggests that using money to free-up time is linked to increased happiness.
In the study, individuals reported greater happiness if they used £30 to save time, for example paying for chores to be completed, rather than using that £30 to spend on material items.
Psychologists have suggested that the result is not that surprising as stressing over lack of time can cause lower well-being whilst contributing to anxiety and insomnia. But they go on to say that even the ultra rich are often reluctant to pay people to do the jobs they dislike.
Dr Elizabeth Dunn, a psychology professor at the University of British Columbia had this to say: “In a series of surveys we find that people who spend money to buy themselves more free time are happier – that is they have higher life satisfaction,”
Greater Life Satisfaction – Benchmark – Laboratory Removals
Rising incomes in many countries has led to a new phenomenon. From Germany to the US, people report “time famine” where they get stressed over the daily demands of their time.
Psychologists in Canada, the Netherlands and the US set out to test whether money can infect increase happiness levels by freeing up time.
More than 6,000 adults were included in the study, including 800 millionaires from Canada, Denmark, the Netherlands and the US. The individuals were questioned on how much money they spent on ‘buying time’.
The study showed that less than a third of individuals spent money to buy themselves time each month, but those who did reported a greater life satisfaction than the others
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