To Buy Happiness, Spend Money on Saving Time
Science Quickly
Scientific American
4.4 • 1.4K Ratings
🗓️ 26 July 2017
⏱️ 3 minutes
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| 0:00.0 | This is scientific Americans 60 second science. I'm Karen Hopkins. This will just take a minute. |
| 0:07.6 | We all know money can't buy happiness. But according to a recent study, there may be a loophole. A team of researchers finds that |
| 0:15.9 | shelling out for services that save time can bring greater feelings of life satisfaction |
| 0:21.1 | than, say, simply buying more stuff. |
| 0:24.0 | The results appear in the proceedings of the National Academy of Sciences. |
| 0:28.3 | It's safe to say that most of us often feel crunched for time. |
| 0:32.2 | So much so, that we're experiencing what Ashley |
| 0:34.8 | Willans of the Harvard Business School, the lead author of the study, describes as a |
| 0:38.9 | time famine. And like any famine, this chronic lack of time takes its toll on our health. |
| 0:45.0 | When we feel like our to-do lists are longer than the hours that we have time and the day to complete them, |
| 0:49.8 | we can feel as if our life is spiraling out of control, thereby undermining our |
| 0:53.9 | personal well-being. Well, if time is money, Willans and her team wondered whether |
| 0:58.7 | money that's used to buy time could offer some relief, like paying someone else to clean the house, mow the lawn, or deliver |
| 1:06.2 | the groceries. |
| 1:07.4 | To find out, the researchers asked more than 6,000 people from the US, Canada, Denmark, and the Netherlands to rate their overall satisfaction with life, |
| 1:16.0 | and to estimate how much money they lay out each month to outsource |
| 1:21.0 | unenjoyable daily tasks or otherwise purchase some time off. |
| 1:25.5 | And they found that respondents who willingly swap funds for free time also report feeling |
| 1:30.4 | more content, regardless of their income or how many hours they work each week. |
| 1:35.1 | To follow up, the researchers conducted a smaller experiment, in which they gave volunteers |
| 1:40.0 | 40 bucks to buy a little something for themselves. The same participants got another |
| 1:45.2 | forty dollars that they were told to spend on something that would save them time. And again, buying |
... |
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