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The old saying about how money can’t buy happiness may not really be true, according to one expert. “New York Times” bestselling author, happiness researcher and Harvard professor Arthur Brooks argues that it can, but only up to a point. But it all depends on how you spend it.
He appeared on this week’s “Glass Half Full” podcast with Craig Melvin, who asked if there’s a correlation between income and happiness. Brooks explained, “Sort of. And so what you find is that money can buy happiness at very low levels, because it eliminates sources of misery.” Having enough money to be able to pay for healthcare, food, and safe housing can make us happy, but if people feel like money brings happiness, they start chasing that feeling, thinking more money equals more happiness, but that’s not how it works.
Brooks points out that having more money to buy more watches, more cars, bigger houses and more stuff isn’t necessarily fulfilling. But he says by spending on these four things, “You can buy happiness.”
- Spending it on experiences with loved ones.
- Buying time - Or paying someone to do things, like household chores, so you have more free time. They key is using the time wisely for experiences, as Brooks warns, “Don’t scroll Instagram while somebody is cutting your lawn.”
- Saving money - It’s an “investment in your own future,” as the less debt you have, the happier you’ll be.
- Giving money to things, causes, and people you care about.
Source: Today