Buying free time can bring you happiness

IT IS said money cannot buy happiness, but according to scientists, it depends what you spend it on.

Research suggests using money to buy more free time, such as paying for a cleaner or cook to take the daily chores off your hands, does actually improve well-being. In contrast, spending money on possessions does little to improve happiness.

“People who hire a house cleaner or pay the kid next door to mow the lawn might feel like they’re being lazy,” said Dr Ashley Whillans, study lead author and assistant professor at Harvard Business School, who carried out the research. “But our results suggest that buying time has similar benefits for happiness as having more money.”

The researchers surveyed more than 6,000 adults in the US, Denmark, Canada and Netherlands. Respondents were asked whether and how much they spent each month to buy themselves free time. They also rated their life satisfaction, and answered time and stress-related questions.

Those who spent money on time-saving purchases reported 23pc greater life satisfaction. The effect held up even after counting for income, although it lowered to a 15pc happiness boost as people had less money to spend on buying back time.

The research was published in the journal ‘Proceedings of the National Academy of Sciences’.