You've heard the expression money can't buy happiness a million times. Well, it turns out this age-old motto is wrong! The trick is to know exactly what to buy. Harvard Business School expert Ashley Williams shares some tips you can use to turn your bucks into bliss.
Retail therapy isn't what it's cut out to be, according to a recent survey of over 6,000 adults. Working in multiple countries at various income levels, respondents revealed that they felt happier and less stressed when they spent $40 to save themselves time — as opposed to spending it on material purchases. Therefore, don't buy stuff — buy time! Read on to learn how.
1. Identify What You Hate
Spend a little bit of money to outsource tasks you dislike the most, which should improve your happiness. Perfect examples include shoveling snow in the winter; mowing the lawn in the summer; or something as simple as washing dishes.
2. Shop for Services
Online communities of today have really made it convenient, and affordable to outsources chores you dislike. TaskRabbit, Thumbtack, Angie's List, Craigslist, and other websites have all made it super easy to get reviews and pricing for services. And this is where you freak out and say, "I can't spend money on that! I should just do it myself!" So here's a little reminder that...
3. We Suck at Valuing Time
We often think that we're going to have more time in the future than we do right now. But it's important to understand that what we do with our money may play just as important a role in happiness as how much money we make.
4. Buy Stuff That Saves Time
Using a Crank Chop, Roomba, InstantPot or a self-cleaning litter box really will free up more time in your life. Using these devices to give you a hand will bring you joy — a value that will outweight the monetary value of your purchase.
5. Trade Up
Wasting time will make you feel guilty about the money you're spending to outsource your responsibilities. So, use your newly-acquired free time for activities you always wished you could do. Starting a hobby or going for a jog might provide you the happiness bang for your buck. You're not only buying yourself out of negative experiences, but also strategically asking yourself what better thing can I spend my time doing?
Forget what you've been told since childhood, and rethink the premise that "money can't buy happiness." Spending money on time and getting rid of negative experiences puts your cash to better use. This new school of thinking will give you a break and add more happiness to your day-to-day life.
What would you do with your free time? Tell us on our Facebook page at @TheListShowTV.