Money can actually buy you happiness. Here's how to get it. - Deepstash
Money can actually buy you happiness. Here's how to get it.

Money can actually buy you happiness. Here's how to get it.

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Money can actually buy you happiness. Here's how to get it.

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Increasing your well-being

A growing body of research shows we can reliably raise our well-being.

Reframing the way we think about money and making financial decisions can lead to long-term gains in life satisfaction. Just having money doesn’t necessarily mean greater happiness, but using it well can.

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  • The level of positive emotions. This includes pride, joy, contentment, and curiosity we experience on a day-to-day basis. How happy you are on an immediate basis fluctuates by the day or even the hour.
  • The overarching sense of contentment. How happy you are overall, generally remains the same. When you rate your happiness on a 10-point scale, if you are a seven kind of person, you will often stay around seven.

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Buying time by outsourcing unpleasant or disliked tasks can benefit our well-being. 

Unfortunately, we're not great at valuing time over money. To change our spending habits, it helps to value time more than money. It could mean that we seek a job for its flexibility rather than the salary and prestige.

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Psychologically, the effect of buying stuff is less valuable. Experiences are often better investments, as they encourage meaningful memories and connections that have a lasting impact.

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A series of experiments found people are happier after spending money on others versus on themselves. It is not that spending money on yourself doesn't feel good - it just doesn't seem to last for long.

By giving money away, you not only make other people happy, but you also make yourself happier.

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