Science says money does indeed buy you happiness and the key takeaway has everything to do with how you spend it. Experts Michael Norton, a Harvard Business professor, and Ashley Whillans, assistant professor at Harvard Business School, revealed three essential factors that increase happiness. Paying for services that save you time (like mowing the lawn or valeting your car), spending money on others, and buying experiences instead of stuff are all proven ways to make you happier.
The study was published in the journal of Proceedings of the National Academy of Sciences of the United States of America and stated:
“Despite rising incomes, people around the world are feeling increasingly pressed for time, undermining well-being. We show that the time famine of modern life can be reduced by using the money to buy time. Surveys of large, diverse samples from four countries reveal that spending money on time-saving services is linked to greater life satisfaction.”
Wednesday on “Pat & Stu,” the guys discussed why they mostly agree with what the new study suggests and shared personal anecdotes of how one of the three listed suggestions from experts applied to their lives.
“When I was young — I want to swear – I hated mowing the lawn. I despised it with so much intensity. It was like one of the first luxuries I ever bought,” said host Stu Burguiere.