Study Reveals The #1 Thing To Spend Your Money On For A Happy Life
As much as most people depend on—and love—having lots of money, the hard-to-earn, and even more difficult-to-save, green stuff often receives a bad rap. We've all heard people say, "Money is the route of all evil," and, "The more you make, the more you spend." Another very popular, cautionary saying is, "Money can't buy you happiness." While there are valid points to all of these caveats, money actually can buy you happiness—and lots of it, according to research published in the Proceedings of the National Academy of Sciences of the United States of America (PNAS). Now, if you're wondering exactly what to spend your money on to reap those rewards, we'll clue you in on just that in a bit.
A lot of research has been spent on how you can build your 401K and achieve financial wealth for the future. But not many have looked into ways to build time into your present life—and isn't the current quality of life you are living just as crucial as it will be when you retire? This intriguing research in PNAS reveals exactly what you will most benefit from spending your money on, which will ultimately make you very happy. Read on to learn more, and next, check out The 6 Best Exercises for Strong and Toned Arms in 2022, Trainer Says.
Money can buy you time—and here's exactly what that means
Individuals can earn a great salary, but most of them seem to have a common complaint: They never have enough hours in each day to get everything done. Okay—so here's where money and happiness come in clutch. According to the PNAS research, money can buy you time, which, in turn, is associated with "greater life satisfaction," along with the mindset of spending your money on buying free time.
The researchers found that adults who work are much happier when they spend money on something that will save them time rather than spending money on material things. Hiring a house cleaning service, food delivery service, or lawn crew, for example, is money well-spent, because you are purchasing the gift of time for yourself.
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Many people who make higher incomes feel as though they have less free time
The research notes that in more recent decades, incomes have grown in countries across the globe, including the United States. People who make these higher incomes feel as though they have less free time—which can result in feeling more anxious and less happy. It can even affect the quality of your sleep.
The research also points out that evidence suggests people of a wealthy status expend free time doing stressful things, like commuting to work and shopping. By pointing out to people how much their time is actually worth, it brings them to realize how little time they have.
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Surveys were sent out to a global selection of various workers—even millionaires
The research involved sending surveys to a global selection of various workers and demographics, including some millionaires. Those surveyed were asked whether they pay someone each month for chores they dislike doing themselves in order to gain more free time. If they did, they were asked how much they spent on it. The research proved what the team hypothesized—spending money on time can prove to be extremely life-fulfilling. Money can buy lots and lots of happiness—that is, if you spend it on just the right thing.
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