Valuing Time Over Money Predicts Happiness After a Major Life Transition: A Preregistered Longitudinal Study of Graduating Students

A.V.  Whillans; Lucia  Macchia; Elizabeth  Dunn

Article | Science Advances

Valuing Time Over Money Predicts Happiness After a Major Life Transition: A Preregistered Longitudinal Study of Graduating Students

by A.V. Whillans, Lucia Macchia and Elizabeth Dunn

Abstract

When making major life decisions—such as choosing what to do after graduation—is it better to prioritize time or money? In a pre-registered longitudinal study of 1,232 graduating university students, respondents who valued time over money chose more intrinsically rewarding activities and were happier one year after graduation. These results remained significant controlling for baseline happiness, potential confounds such as materialism and socioeconomic status, and when using alternative model specifications. These findings extend prior research by showing that the tendency to value time over money is not only predictive of daily consumer choices but also of major life decisions. Additionally, this research clarifies the direction of the observed associations between valuing time and money and happiness, showing that valuing time over money uniquely contributes to well-being, in part by encouraging intrinsic motivation. Together, this work sheds new light on whether, when, and how valuing time shapes happiness.

Keywords: Time use; money; trade-offs; Career Decisions; Time Management; Money; Happiness; Values and Beliefs; Personal Development and Career;

Format: Electronic

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Citation:

Whillans, A.V., Lucia Macchia, and Elizabeth Dunn. "Valuing Time Over Money Predicts Happiness After a Major Life Transition: A Preregistered Longitudinal Study of Graduating Students." Science Advances 5, no. 9 (September 2019).

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Valuing Time Over Money Predicts Happiness After a Major Life Transition: A Preregistered Longitudinal Study of Graduating Students

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