3. Time

In our fast-paced world, time has become an increasingly scarce commodity. Feeling rushed or pressed for time can lead to stress, unhappiness, and reduced well-being. Recent research suggests that using money to buy time – for instance, by hiring a cleaner or paying for a delivery service to free up your time – can increase life satisfaction.

In a series of experiments conducted at Harvard Business School, people who spent money to buy themselves time reported higher levels of happiness than those who purchased material goods. This effect was seen regardless of income level.