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Publications
  • 2018
  • Chapter
  • Handbook of Well-Being

Time, Money, and Subjective Wellbeing

By: Cassie Mogilner, A.V. Whillans and Michael I. Norton
  • Format:Electronic
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Abstract

Time and money are scarce and precious resources: people experience stress about having insufficient time and worry about having insufficient money. This chapter reviews research showing that the ways in which people spend their time and money, the tradeoffs that people make between having more time or having more money, and the extent to which people focus on each resource can have a significant impact on happiness. Considering subjective well-being (or “happiness”) as a combination of high positive affect, low negative affect, and high feelings of life satisfaction, we explore when, how, and why time and money impact peoples’ anticipated, momentary, and lasting happiness.

Keywords

Money; Time Management; Happiness; Satisfaction

Citation

Mogilner, Cassie, A.V. Whillans, and Michael I. Norton. "Time, Money, and Subjective Wellbeing." In Handbook of Well-Being, edited by Ed Diener, Shigehiro Oishi, and Louis Tay. Noba Scholar Handbook Series. Salt Lake City: DEF Publishers, 2018. Electronic.
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About The Authors

Ashley V. Whillans

Negotiation, Organizations & Markets
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Michael I. Norton

Negotiation, Organizations & Markets
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More from the Authors
  • The Developmental Origins and Behavioral Consequences of Attributions for Inequality By: Antonya Marie Gonzalez, Lucia Macchia and Ashley V. Whillans
  • When Alterations Are Violations: Moral Outrage and Punishment in Response to (Even Minor) Alterations to Rituals By: Daniel H. Stein, Juliana Schroeder, Nicholas M. Hobson, Francesca Gino and Michael I. Norton
  • Policy Stringency and Mental Health During the COVID-19 Pandemic: A Longitudinal Analysis of Data from 15 Countries By: Lara B. Aknin, Bernardo Andretti, Rafael Goldszmidt, John F. Helliwell, Anna Petherick, Jan-Emmanuel De Neve, Elizabeth W. Dunn, Daisy Fancourt, Elkhonon Goldberg, Sarah P. Jones, Ozge Karadag, Elie Karam, Richard Layard, Shekhar Saxena, Emily Thornton, Ashley Whillans and Jamil Zaki
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