How can money buy your happiness?

Speakers: Li Ningjing, Nillah Nyakoa, and Lu Sirui

Money can buy your happiness as long as you spend it on time-saving luxuries [Photo: Bing.com]

A new research has shown money really can buy happiness.

Researchers have found that spending money to buy free time, including paying people to cook or clean for you, leads to greater life satisfaction.

They also found that people were reluctant to spend on time saving purchases.

The study, led by researchers at the University of British Columbia and Harvard Business School, surveyed more than 6,000 adults in the US, Denmark, Canada and the Netherlands.

Respondents were asked if and how much they spent each month on a time saving purchase.

They also rated their life satisfaction and answered questions about feelings of stress related to time management.

Psychologists found paying to delegate household chores is linked to happiness; because it lessens feelings of having too much to do and not enough time to do it.

This led to greater life satisfaction and improved mood.

The audio clip is from Studio+, produced by CRI.