Who’s more happy, the time-rich, or the money-rich? Not surprisingly, a new study says that people who have flexibility and free time score higher on the happiness scale:
Kasser has conducted a variety of studies that found people who are “time affluent” are happier than those who are materially affluent. “Time-affluent people had more time to spend engaged in activities focused on personal growth, friends, and family and contributing to community” — all essential factors in happiness, he explains.
Meanwhile, experts agree that financial comfort can be achieved by carefully managing the money you have — something 23 percent of survey respondents said they don’t have the knowledge to do.
Well duh. It seems to me that if it’s easier to manage your money so you can be happier than it is to make 2,3, or even 4x more to slightly increase happiness, then you should focus your efforts on money management rather than increasing your income.
I drive a fifteen year old car because I really don’t care about how people view what I drive. It’s enough to get me where I need to go, and it’ll carry a 4×8 sheet of plywood. Sure, I may need to replace it soon because it’s on the verge of disintegration, but until that time we’re happier diverting a car payment to other things, or to nothing at all. Barry and I talk about the joy of being time-rich, and Erin and I have calculated that, in our 10 years of marriage, we’ve spent as much time together as full-time working couple who have been married four times as long. As the acrobat says, it’s all about balance.