Using money to buy time linked to increased happiness

The study, led by researchers at the University of British Columbia and Harvard Business School, suggests that using money to buy free time— such as paying to delegate household chores like cleaning and cooking— is linked to greater life satisfaction.

Despite the benefits, the researchers were surprised to discover how few people choose to spend their money on time-saving purchases in daily life. Even in a sample of 850 millionaires who were surveyed, almost half reported spending no money outsourcing disliked tasks. A survey of 98 working adults asking how they would spend a windfall of $40 also revealed that only two per cent would use it in a way that saved them time.

Source: https://news.ubc.ca/2017/07/24/using-money-to-buy-time-linked-to-increased-happiness/