Valuing your time more than money is linked to happiness

http://www.eurekalert.org/pub_releases/2016-01/sfpa-vyt010416.php

Public Release: 7-Jan-2016
Valuing your time more than money is linked to happiness
Society for Personality and Social Psychology

Valuing your time more than the pursuit of money is linked to greater happiness, according to new research published by the Society for Personality and Social Psychology.

In six studies with more than 4,600 participants, researchers found an almost even split between people who tended to value their time or money, and that choice was a fairly consistent trait both for daily interactions and major life events.

"It appears that people have a stable preference for valuing their time over making more money, and prioritizing time is associated with greater happiness," said lead researcher Ashley Whillans, a doctoral student in social psychology at the University of British Columbia. The findings were published online in the journal Social Psychological and Personality Science.

The researchers found an almost even split with slightly more than half of the participants stating they prioritized their time more than money. Older people also were more likely to say they valued their time compared to younger people.

"As people age, they often want to spend time in more meaningful ways than just making money," Whillans said.

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A participant's gender or income didn't affect whether they were more likely to value time or money, although the study didn't include participants living at the poverty level who may have to prioritize money to survive.

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