In a new study of two researchers at the University of Toronto’s Rotman School of Management It was shown the relationship between Time, Money and Happiness.
It was a study that looked at how, treating time as money “can actually undermine your well-being” said Sanford DeVoe.
But, how did they arrived at this conclusion?
According to Prof. DeVoe and PhD student Julian House, people who use their time to gain money are more likely to feel impatient when they’re not using it for this purpose.
They form their conclusion based on the results on three experiments which will be published in the Journal of Experimental Social Psychology.
In particular, for each experiment and each experimental group, was asked to think about their time in terms of money.
During leisure activities introduced during the experiments, the group showed lower satisfaction and impatience. Then the experiment showed that the sub-group reported less impatience when they were paid during one of those activities. The activities was listening to music.
As results, the experiments demonstrated that thinking about time in terms of money “changes the way you actually experience time,” says Prof. DeVoe. “Two people may experience the same thing, over the same amount of time, yet react to it very differently.”
Today hourly pay dominates the job market, and it is important for people to be “aware” of the impact this can have on their life.
Frankly, I always thought that money doesn’t buy happiness. I’ll suggest to read this article that talk about a 2007 study which found that the happier people went on the make more money later in life.
Image Credit: By Josh Pesavento
