Spend Money on THIS. Be Happier The Bible says it is more blessed to give than to receive. Science has now confirmed it. Buy whatever you want whenever you want, but also give away some of your largesse if you want to be truly happy.
That's the word from researchers at the University of British Columbia and Harvard University who determined that people who buy presents for their family and friends or give money to charitable organizations report being happier than more miserly people who don't share, reports The Associated Press. Previous research has shown that money can buy happiness--to an extent. Specifically, having more money does lead to happiness; after all, if you have a high enough income you don't have to worry about paying the mortgage or putting food on the table. You might even get to take a vacation. Does how you spend your money impact your happiness? That is the question the British Columbia/Harvard team wanted to answer. The team conducted three experiments. No. 1: On a Scale of 1 to 5 Interviews were conducted with a sample of 632 Americans, 55 percent of whom were women, to rate their happiness on a scale of one to five with five being the happiest. In addition, data were collected on annual income, as well as estimates of how much money was spent paying bills, how much was spent on gifts for themselves, how much was spent on gifts for others and how much was given to charity. The first two were defined as personal spending, while the second two were called "prosocial" spending. The team found that how people spent their money was far more important than how much money they had. Personal spending had no impact on happiness, but prosocial spending was associated with significantly greater happiness. No. 2: The Bonus Sixteen employees of a Boston company were interviewed about their happiness one month prior to and six to eight weeks after they received a profit-sharing bonus from their employer. How they spent the bonus was a more important predictor of happiness than the amount of the bonus. No. 3: Spend It Now Nearly 50 Canadian students were asked to rate their happiness. After they did that, each was randomly given an envelope that contained cash, ranging from $5 to $20. Some were told to spend it on themselves, while others were told to buy a gift for someone else. Hours later they were called together and asked to rate their happiness. Whether it was $5 or $20 or anything in between didn't matter. Those who bought something for someone else were far happier than those who got something for themselves. "This work suggests that even making small alterations in how we spend money on a daily basis can make a difference in happiness," lead study author Elizabeth Dunn of the University of British Columbia told AP. "That doesn't mean go get a high-paying job so you can spend tons of money on others. The message is, given what you have, how can you make little alterations to do something for others." And it's not just your treasure that counts toward the happiness quotient. Giving to others can also include donating your time or special skills to a charitable organization or religious group. The study was published in the journal Science. --From the Editors at Netscape
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