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Money-and-Happiness-Truths-and-Myths.pdf

🔗 Source: drrobertbrooks.com

📊 Size: 104 KB

📄 Pages: 6 pages

⬇️ Downloads: 129

Summary

Research by Elizabeth Dunn and Michael Norton found that spending money on others, rather than the amount of money one has, is a stronger predictor of happiness. Studies showed that people who spent a third of their bonus on others experienced a significant increase in happiness, while the amount of the bonus itself had no relation to happiness. Similar findings were reported in other studies, including one where students who spent money on others or charities were happier than those who spent it on themselves. Experts suggest that altruistic spending can have immediate and long-term effects on happiness, similar to exercise, and that people tend to overestimate the impact of higher incomes on their well-being. Once basic needs are met, additional wealth does not necessarily lead to greater happiness, with some studies suggesting that $12,000 per year is a threshold beyond which more money does not increase life satisfaction.

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Research by Elizabeth Dunn and Michael Norton found that spending money on others, rather than the amount of money one has, is a stronger predictor of...

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File Format: PDF
File Size: 104 KB
Pages: 6
Language: EN
Total Downloads: 129
Last Updated: 2 hours ago

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