It can if you spend it right! At least that's what U.S. News & World Report's Kimberly Palmer believes. With so many factors influencing the ratio of cash to smiles, Thomas DeLeire (University of Wisconsin-Madison) and Ariel Kalil (University of Chicago) pored through the national Health and Retirement Study and found two surprising realities...
- Money spent on personal items, durable goods (such as major appliances), and housing did not increase perceived happiness
- Money spent on leisure activities (such as theater tickets or travel) and personal hobbies did increase perceived happiness
The why??? Family vacations and other fun pursuits put us in touch with other people... which leads to connectedness... which leads to greater satisfaction.
Keep in mind, this study was conducted on individuals 50 and above, so it's possible that younger folks may still get the biggest bang from spending bucks on products. But, this is the kind of information that lets you know that leisure time is valuable, in ways that money can't buy!
Read the full article, "How to Spend Money So It Makes You Happy"
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