Happiness and Money a Study

 https://youtu.be/5p_sqQHdvcE

Researchers have long been interested in the relationship between income and happi￾ness, but a newer wave of work suggests that how people use their money also matters.

We discuss the three primary areas in which psychologists have explored the relationship

between spending decisions and subjective well-being, beginning with a brief review of

seminal research on the benefits of buying experiences. We then offer an in-depth

review of two other domains in which changes in spending decisions have been shown

to increase well-being: using money to benefit others (prosocial spending) and giving

up money to have more time (buying time). We discuss how, when, and why prosocial

spending and buying time promote happiness. In doing so, we critically consider the

evidentiary value of past findings (particularly our own) and provide links to all of our

available data, as well as practical recommendations about how to replicate our findings

(e.g., which measures and manipulations produce the most consistent results). Taken

together, our studies on prosocial spending and buying time underscore the value

of conceptualizing money not only as a stable life circumstance, but also as a tool that

individuals can intentionally utilize to alter their own happiness levels.

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