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1 minute reading

When money does not make us happy, we should consider time

When money does not make us happy, we should consider time When money does not make us happy, we should consider time
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Psychologists have found a surprisingly small relationship between money and happiness, and economists have found Americans’ happiness levels to have remained largely constant despite increases in the country's financial wealth over the same time period.

Why does a whole lot more money not make us a whole lot more happy? One answer is that people are just not spending it right. For example, people often spend their money on objects (rather than experiences), on the self (rather than others), and on big luxuries (rather than small pleasures)—expenditures that are not conducive to long-term happiness. Indeed, cultures where consumption practices are lighter (e.d slight text adaptation here) principles tend to report higher levels of happiness. Just look at such anecdotal evidence as Italy, where savoring an espresso and playing bocce ball defines happy Sundays, or Costa Rica, where social networks are tight, allowing individuals to feel happy with their lot—regardless of financial success.

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Source : If money does not make you happy, consider time, Journal of consumer research, 2010

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