3 WHEN DOLLARS MAKE SENSE

The first thing to know is that when it comes to boosting your mood, research proves spending your money on experiences trumps objects – so think more holiday or concert tickets and less shoes, clothes and cars. In fact, just looking forward to an experience is enough to boost happiness – so book early!

But using your money to buy yourself time rather than things is also smart. According to a recent Canadian study, people who pay for services – like cleaning, lawn mowing and car washing – spend more of their downtime doing things they want to, and are therefore happier than those who spend money on ‘stuff’.

“Research has shown people benefit from buying into nice experiences,” says the study’s senior author, Elizabeth Dunn. “But our research suggests people should consider buying out of unpleasant experiences.” Money can buy happiness – if you spend it right.