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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
  • Format:Electronic
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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; Trade-offs; Career Decisions; Time Management; Money; Happiness; Values and Beliefs; Personal Development and Career

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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About The Author

Ashley V. Whillans

Negotiation, Organizations & Markets
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More from the Authors
  • The Secret Tax on Women’s Time By: Lauren C. Howe, Lindsay B. Howe and Ashley V. Whillans
  • The Emotional Rewards of Prosocial Spending Are Robust and Replicable in Large Samples By: Lara B. Aknin, Elizabeth W. Dunn and Ashley V. Whillans
  • Perceived Job Difficulty Influences Unionization Support for Workers in Low-Wage Jobs By: Elizabeth R. Johnson and Ashley V. Whillans
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