Can Money Buy Happiness? (Based on scientific research)

What am I thinking now?

I should finish my final assignment, and then I will find a job. Since I will graduate from the well-known university, I deserve the well-paid job.

Wait a sec! What is the money for?

I don't know. It probably can give happiness to me. I can afford many things.

So, are you telling me that money can buy happiness?

A short conversation above was really happening in my mind. I didn't know the answer. And somehow, I just believed that kind of situation happens to you too, fellow readers. So I did a little dig on what promotes happiness the most. And then, I come up with this. Let's check it out.

Elizabeth W. Dunn, associate professor of University of British Columbia majoring Psychology, said that she won't surprise if people who did something for others would promote more happiness than people who didn't. But she surprised when she found out how big the positive impact of spending money on others to promote happiness. And of course, it has nothing to do with the amount of money you have. "This research shows that little change of ways in spending money will make us feel a different way of happiness", said Dunn via phone-interview session. It doesn't mean that we should have a huge salary and then we give them for others. No, it is not like that! The point is just to give what you have for others, and do it in your ways! Dunn added,"Nothing's special about the money! The most important things are your time and your involvement to help others."

Here is how the research were conducted. This research initiated by asking 632 Americans (55% female) to rate their general happiness, report their annual income, and estimate how much they spent on bills/expenses, donate for charity, gifts for others, etc. The first two categories are summarized to create index of personal spending. And the other two are summarized to create index of pro-social spending. Then these two indexes are statistically tested. Using the regression analysis, this research revealed that the personal spending was unrelated with happiness. Statistically speaking, it was not significant. On the contrary, pro-social spending was related with happiness.

Another research taken by Dunn, they took 45 Canadian students to rate their happiness. They were given money, at least $5 each. Of course, they got a different amount of money. They were given a directive. Some of them were told to spend money on them. And some of them were told to spend money on others. At the end of the day, they rated their happiness and the results revealed that students who spent money on others experienced more happiness than some other students.

Conclusion of the research, people who spend more money on others experienced greater happiness than people who spend more money on themselves. Further result, the amount of money we make has nothing to do with our happiness. But the amount of money we make has something to do with the way we spend our money.

Final decision, I deserve well-paid company for I have already known my way of spending money. I am going to spend more money on others. Yeah, I will! It will be my happiness. No, it is my dream!

Still, I can't answer the question. Can money buy happiness?

(reference: Dunn, E. Spending Money on Others Promotes Happiness. Univ of British Columbia)