Well researchers say that it depends on how you spend it. A study published in the Proceedings of the National Academy of Sciences suggests that people.
who spend money to buy time instead of material goods, are happier overall.
According to NPR, the study found that when people spend money on time-saving services such as a house cleaner, lawn care or grocery delivery, it makes them feel happier.
By comparison, money spent on material goods — aka — things, does not boost positive feelings as many would expect.
In an age where consumers don’t hesitate to buy the biggest and best electronic devices, people are often reluctant to spend money on time-saving services.
Contemplating paying somebody else to do something you’re perfectly capable of doing yourself may provoke feelings of guilt.
What we found is that people who spent money to buy time reported being almost one full point higher on our 10-point ladder.