From wealth to well-being : spending money on others promotes happiness

While previous research has examined the effect of income on happiness, we suggest that how people spend their money may be as important for their well-being as how much they earn. Specifically, we hypothesized that spending money on others may have a more positive impact on well-being than spending money on oneself. We found converging evidence for this hypothesis in a nationally representative survey (Study 1), a longitudinal study of windfall spending (Study 2), and an experimental study in which participants were randomly assigned to spend money on themselves or others (Study 3). We also found that people believe that spending on themselves, as opposed to others, will make them happier (Study 4) and that happier people were more likely to spend on others and experience higher happiness as result (Study 5). These results demonstrate that spending money on others may facilitate the translation of wealth into well-being.

Name thesis:degree_name

Master of Arts - MA

Level thesis:degree_level

master's

Discipline thesis:degree_discipline

Psychology

Grantor dc:publisher

University of British Columbia

Year dc:date

2008

Author dc:creator

• Aknin, Lara Beth

Statement dc:rights

• Attribution-NonCommercial-NoDerivatives 4.0 International

Licence

• http://creativecommons.org/licenses/by-nc-nd/4.0/

Language dc:language

eng

Handle dc:identifier

http://hdl.handle.net/2429/1417

OAI identifier oai:identifier

oai:circle.library.ubc.ca:2429/1417