NEWS FLASH: MONEY BUYS HAPPINESS

Researchers at the University of British Columbia recruited 300 people across seven countries. They gave 200 participants $10,000 while the rest didn’t receive any money. The point was to measure how the sudden cash infusion impacted people’s well-being. Participants were from a mix of low-income nations like Brazil, Indonesia, Kenya and wealthier ones such as Australia, Canada, the US and the UK, ranging in age from 21 to 78 with an average income of $54,394. The money came from two anonymous wealthy donors, who gave away $2 million of their money for the experiment. Those who received the money were told to spend it within three months. Many bought cars or spent it on home improvements. Some paid down their mortgage or renovated their house. After three months, both groups filled out a survey that measured happiness. You’re not going to believe this, but the group who received the money reported higher levels of happiness than those who didn’t get anything. Six months later, they still felt happier than they did before the social experiment.
* Many wanted the addresses of the people who didn’t get the money, just so they could rub it in their faces.
* And the people who didn’t get the money wanted the addresses of the researchers.
* I would be a lot happier not knowing that 200 people got $10,000.
* Six months later, are the wealthy donors happy they spent $2 million on this?
* I would have told them money buys happiness for a measly $100,000. They could have saved 1.9 million bucks.