Time, Money, and Subjective Wellbeing

Cassie  Mogilner; A.V.  Whillans; Michael I. Norton

Chapter | Handbook of Well-Being | 2018

Time, Money, and Subjective Wellbeing

by Cassie Mogilner, A.V. Whillans and Michael I. Norton

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;

Format: Electronic

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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.

Each year across North America, millions of graduates have to make tradeoffs between time and money as they plan their next steps. Despite the importance of these choices, we know surprisingly little about how people navigate major life decisions that involve making more money at the expense of having less time, and vice versa. Researchers asked more than 1,000 graduating college students in Canada whether they generally prioritized time or money. They found that students who prioritized time at graduation were happier and more satisfied with their careers 1 to 2 years later than those who prioritized money. They explored why that might be and how factors like financial security and student debt play a role in people’s decision-making and happiness.

Working Paper | HBS Working Paper Series | 2019

Connecting the Dots: Superordinate Framing Enhances the Value of Unimportant Tasks

Jaewon Yoon, A.V. Whillans and Ed O'Brien

Each day, people begrudgingly complete mundane tasks. Four experiments (N = 3,502; two pre-registered) reveal that a simple intervention—superordinate framing—can enhance people’s task experiences. In two initial experiments, working adults were asked to describe unimportant, meaningless work tasks. Some participants reflected on how these tasks acted like puzzle pieces, connecting with other tasks to achieve a broader purpose (superordinate condition). Others reflected on the broad purpose of the unimportant task (purpose condition) or were assigned to a no-framing control condition. Participants in the superordinate condition reported greater joy, meaning, and motivation from the task compared to participants assigned to the purpose or control conditions (Experiments 1-2). This effect was moderated by task type, such that superordinate (vs. purpose) framing increased the enjoyment of unimportant but not important tasks (Experiment 2). Two additional experiments replicated these findings using real-time work tasks, and generalized to two kinds of superordinate frames: superordinate framing enhanced participants’ task experience regardless of whether they reflected on how their own tasks fit together over time (i.e., how their work now will combine with their own future work) or how their own tasks fit with others’ tasks (i.e., how their work will combine with others’ work; Experiments 3-4). Participants who viewed their task through a superordinate lens also demanded a higher wage for participation—providing further evidence that they valued these tasks more (Experiment 4). These findings highlight a costless psychological intervention that can boost people’s enjoyment of otherwise mundane and demotivating tasks.

Keywords: superordinate framing; Employees; Motivation and Incentives; Goals and Objectives; Mission and Purpose; Perspective;

Citation:

Yoon, Jaewon, A.V. Whillans, and Ed O'Brien. "Connecting the Dots: Superordinate Framing Enhances the Value of Unimportant Tasks." Harvard Business School Working Paper, No. 20-011, July 2019. View Details

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Managers constantly encourage employees to think about why they do the work they do in order to give them a sense of purpose and fight against demotivation. But our latest research—with nearly 4,000 working adults in the U.S.—suggests that this hyperfocus on purpose can backfire. Constantly hearing messages about making an impact actually risks leading employees to ruminate about their work’s lack of impact. Building on Gestalt principles in psychology, we offer a solution: thinking about how seemingly unimportant work belongs to a set of tasks contributing to a broader goal (i.e., superordinate framing) could help employees see their true value.

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Time, Money, and Subjective Wellbeing

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