Can Money Buy Happiness?

For Harvard business professor Michael Norton, it is a ‘yes’, when we do not spend it on ourselves.

In the recent TEDxCambridge,

(http://www.ted.com/talks/michael_norton_how_to_buy_happiness.html?utm_source=newsletter_weekly_2012-04-24&utm_campaign=newsletter_weekly&utm_medium=email)

Norton comments on the notion ‘Can Money Buy Happiness’, supported by interesting research findings. The one single conclusion is – when people are pro-social with their money, they are happier.

The take away –

Ÿ   Comparisons – Doing good things in trivial ways does not make one less happier, while spending on someone you know or making a donation yields the same level of happiness.

Ÿ   Happiness Index – In 136 countries across the world (Africa inclusive), people rate their wellbeing higher when giving money to charity instead of keeping it.

Ÿ   Return on Investment – return on Investment of €15 is as low as €4.5 if one spends money on personal incentives because it does not motivate them to perform better; however it goes up to €78 if the money is spend on pro-social incentives.

So money can, indeed buy happiness.

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