At a recent TEDx Cambridge, business professor Michael Norton explained how money can indeed buy happiness.
Norton shares a fascinating experiment conducted among British Columbia undergrads. Two groups were given envelopes with $5 or $20 inside, along with a note directing them to either spend on themselves or someone else by 5 p.m.
When asked how they felt at the end of the day, the students who splurged on Starbucks or earrings for themselves reported feeling no different than the day before. Those who spent on others reported feeling the happiest.
“The specific way that you spend on other people isn’t nearly as important as the fact that you spend on other people,” Norton said.
Watch the video below to learn more about buying happiness:
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