To most busy mums, having more hours in our day would indeed make us happy.
And guess what – this might just be one of those cases where throwing money at something will indeed end up making you happier.
According to a new study by the University of British Columbia and Harvard Business School money buys happiness if it’s used to give you more time. And – here’s the best bit, mamas – that, in turn, could be better for the whole family.
The findings, published in the journal Proceedings of the National Academy of Sciences, found “buying time” makes people happier than buying material things.
In other words: Hiringa cleaner or babysitter (or both!) is going to make you happier than anything you can order online.
Yes, really.
“People who hire a housecleaner or pay the kid next door to mow the lawn might feel like they’re being lazy,” study lead author Ashley Whillans, assistant professor at Harvard Business School, said in a press release. “But our results suggest that buying time has similar benefits for happiness as having more money.”
More than 6,000 people in the United States, Denmark, Canada and the Netherlands took part in the study, where they were asked if they spend money to buy themselves free time, and, if so, how much per month. The researchers also asked them about life satisfaction and stress.
And – unsurprisingly, maybe – those who spent money on time-saving purchases reported greater levels of life satisfaction.
And while you might think this only applies to those with money to burn, you’d be wrong.
The researchers found that even those on tight budgets can benefit from time-related purchases. In the press release, Elizabeth Dunn, a UBC psychology professor and the study’s senior author, said, “We thought the effects might only hold up for people with quite a bit of disposable income, but to our surprise, we found the same effects across the income spectrum.”
To test this theory 60 people were given an assignment: Spend $40 on a time-saving purchase one weekend (like paying someone to mow their lawn or grabbing a cab instead of taking the bus).
The next weekend, spend $40 on a material object (such as a bottle of wine or new clothes).
And guess what? The time-saving purchases made people happier, and the team behind the study hopes more people take advantage of what the participants learned.
“Although buying time can serve as a buffer against the time pressures of daily life, few people are doing it even when they can afford it,” Dunn explained.
Sounds accurate? I know. Maybe it’s this idea that we should be able to do it all ourselves that stops us from parting with money in order to save time? The thing is – if more time equals more happiness – is it not worth the investment?
Tell us: Do YOU pay for a cleaner? Help with the kids? Does it really make you happier? Let us know in the comments or tweet us at @herfamilydotie
