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If Money Doesnt Make You Happy, Consider Time
Key Excerpts from Article on Website of Stanford Graduate School of Business
Posted: November 8th, 2011
http://www.stanford.edu/group/knowledgebase/cgi-bin/2011/04/...
Our search to understand what makes humans happy (or happier) goes back centuries. New research takes a fresh look at this topic. Jennifer Aaker and Melanie Rudd at Stanford University, and Cassie Mogilner at the University of Pennsylvania, published If Money Doesnt Make You Happy, Consider Time, in the Journal of Consumer Psychology, 2011. They discuss how happiness is ... a consequence of the choices people make. So what can people do to increase their happiness? Their answer is surprisingly simple: spend your time wisely. People often make career choices based on how much money they envision they can make now or in the future. Surprisingly little thought goes into how they will be using their time whether they can control their time, who they will spend their time with, and what activities they will spend their time on, said Aaker. Over the years, there has been relatively little research on the relationship between the resource of time and happiness. Perhaps not surprisingly, it is another resource money that has been investigated much more thoroughly as a potential key to happiness. Yet, very little research corroborates the idea that more money leads to more happiness. We know that people with meaningful social connections are happier than those without them, said Mogilner. The more time that individuals spend with their partners, best friends, and close friends, the happier they are.
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