University of British Columbia researchers have put a
price tag on happiness. The good news: It's available for the low price of $5.
The better news: You can't spend that money on yourself. Instead, to get the most smiles per dollar, you have to spend money on other people.
Dr. Elizabeth Dunn at the University of British Columbia, Vancouver and colleagues found that [experimental subjects] report significantly greater happiness if they spend money "pro-socially" -- that is on gifts for others or on charitable donations -- rather than spending on themselves.
The researchers apparently looked at three different kinds of studies: a nationwide survey, a specific study of how employees spent their bonuses, and a controlled experiment on psychology undergrads. In all cases, the evidence showed that giving money away made people happier. In fact, donating as little as $5 was enough to boost happiness on any given day. But the amount of money people spent on themselves had no appreciable effect on how happy they were.
In short, new research confirms an old adage: it really is better to give than to receive.
But, on a somewhat more dismal note, there's another route to convert money into happiness: choose friends who aren't as wealthy as you are.
