If Money Doesn't Make You Happy, Consider Time

If Money Doesn't Make You Happy, Consider Time

By Jennifer Aaker, Cassie Mogilner, Melanie Rudd
2010Working Paper No. 2067

Although a substantial amount of research has examined the link between money and happiness, far less has examined the link between time and happiness. This paper argues, however, that time plays a critical role in understanding happiness, and it complements the money-spending happiness principles in Dunn, Gilbert, and Wilson (2010) by offering five time-spending happiness principles: 1) spend time with the right people; 2) spend time on the right activities; 3) enjoy the experience without spending the time; 4) expand your time; and 5) be aware that happiness changes over time.