Dailey Bailey: Three Ways Money Can Buy Happiness

There was a story about how donating to charity makes you feel good for a week, and donating time makes you feel good for 24 days. But if you’re lazy, cold hard cash still works.

And despite what you always hear about how “money can’t buy happiness”, here are three more ways it actually can, according to science.

1. Spending money to do things, like going on a vacation. Researchers at Cornell found that buying stuff only makes you happy in the short term. But paying for experiences can make you happier in the long term.

2. Spending money to give yourself more free time. For example, a study at Stanford found that paying for a housekeeper did make people happier. But only if they could afford it. If it would make you stress out about money, it won’t work.

3. Spending money to pick up a check. And it doesn’t even matter how much the check is. Researchers at the University of British Columbia found that even buying your friend a drink can put you in a better mood.

And in general, spending money on others makes you happier than spending money on yourself.