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Article Current Opinion in Psychology Time, Money, and Happiness |
We highlight recent research examining how people should manage their most precious resources—time and money—to maximize their happiness. Contrary to people’s intuitions, happiness may be less contingent on the sheer amount of each resource available and more on how people both think about and choose to spend those resources. Overall, focusing on time leads to greater happiness than focusing on money. Moreover, people enjoy greater happiness from spending money on others rather than themselves and from acquiring experiences instead of possessions. Similarly, people enjoy greater happiness from spending time on or with others and from acquiring experiences—both extraordinary and ordinary.
Keywords: Happiness; Behavior; Resource Allocation; Money;
Mogilner, Cassie, and Michael I. Norton. "Time, Money, and Happiness." Current Opinion in Psychology 10 (August 2016): 12–16.
