https://www.nytimes.com/2017/07/27/science/study-happy-save-money-time.html
Prioritize Time Over Money for Greater Happiness
The central learning point of the article is that people who prioritize their time over making more money tend to be happier. This challenges the common societal assumption that wealth is the primary driver of well-being. The research suggests that focusing on how you spend your time leads to more fulfilling choices and, ultimately, greater life satisfaction.
The "Time vs. Money" Mindset
The way you frame your choices—in terms of time or money—can significantly impact your happiness. When faced with a decision, such as taking on extra work, those with a "time" mindset are more likely to consider the personal cost of giving up their free time, while those with a "money" mindset are more likely to focus on the financial gain. The article suggests that consistently choosing time over money, when possible, leads to a happier life.
- Action Point: When making decisions, consciously ask yourself, "How will this affect my time?" rather than just, "How will this affect my finances?" This shift in perspective can help you make choices that are more aligned with your overall well-being.
Spending on Experiences, Not Possessions
The article reinforces the well-established idea that spending money on experiences, such as vacations, concerts, or meals with friends, brings more lasting happiness than spending on material possessions. Experiences create memories and social connections, which are key components of a happy life.
- Action Point: When you have discretionary income, prioritize spending it on experiences rather than material goods. Actively seek out opportunities to create positive memories and strengthen your social bonds.
"Buying" Time to Reduce Stress
A key action point is the concept of "buying" time. This means spending money to outsource or delegate tasks that you dislike or that cause you stress, such as cleaning, grocery shopping, or home maintenance. By freeing up your time, you can then spend it on activities that you find more enjoyable and fulfilling, which can significantly boost your happiness.
- Action Point: Identify the time-consuming tasks in your life that you dread. If your budget allows, consider paying for services that will take these tasks off your plate. The resulting increase in "time affluence" can be a powerful investment in your happiness.
The Importance of Social Connection
The article highlights that people are generally happiest when they are connecting with others. This underscores the importance of investing time in relationships with family and friends.
- Action Point: Make a conscious effort to schedule and protect time for social activities. Prioritize spending time with the people who are important to you, as these connections are a vital source of happiness.