Would You Rather Have More Money Or More Time?
BY Sarah Rense | Sep 15, 2016 | Culture
Here's a question, one you need to go with your gut on: given the option, would you choose to have more money or more time? Have your answer? Now, if you're one of the 64 percent of respondents in a recent survey, challenge your gut to rethink.
Two professors conducted a survey of over 4,000 Americans asking them this exact question, then wrote about their research in The New York Times. According to their results, 64 percent of American would choose money over time. But, even when controlled for outside factors like income and leisure time, the minority of people who would choose more time were actually happier.
They were happier, according to the article, because they valued these scarcities differently. Those who chose money were focused on not having it—a negative value. Those who chose time were thinking of how they could spend it if they did have it—a positive value—and they envisioned spending it on things they wanted or people they cared about. Those are indeed happy things.
Up to a certain income, USD75,000, research shows making more money can increase a person's happiness. Good thing that the median US income was up 5.2 percent to USD56,500 in 2015, and promising to rise more. Plus, according to a follow-up survey, some respondents changed their answers for the better a year later.
From: Esquire US.