Money can make you happy, as long as you are spending it on others, suggests a recent study. The researchers at the University of British Columbia and the Harvard business School found out that people who spend money on others report greater happiness than those who don’t, or those who spend money on themselves. The results held true regardless of people’s income.

An interesting fact is that the amount of money spent on others didn’t matter.

Previous studies done by a number psychologists and economists also showed that having more money doesn’t make people happier. According to their findings: increases in income have a very brief feeling of satisfaction. People quickly get used to the stuff their money can buy and then, start wanting more. Many are under the illusion that wealth equals life satisfaction. People report than their “needs” increase with their income.

Also, when people start making more money, it usually means that they are spending more time working and therefore have less time for this life’s pleasures. This factor not only doesn’t increase happiness and satisfaction with life, but also may decrease it.

Money and wealth are certainly overrated in the United States. Many agree that United States is a wallet-driven country and society. We are pressured to make more, to buy more and to spend more. Being successful in society’s eyes became many people’s priority, so they try to live up to other people’s expectations and forget about their happiness.

For instance, many women in the United States go back to work after their child turns 6 weeks old. Many say that they have to go to work, to be able to afford living, but in most other countries, which are poorer; women choose to stay at home and enjoy their children anyway. They would much rather sacrifice a nice car or nice clothing, than be away from their children. Women in many cultures realize that family brings much more satisfaction than work, but in the United States stay-at-home-moms are treated like a second class category of people. The US government doesn’t seem to support family values as well. When it comes to maternity leave laws, the U.S. stands among countries like Papua New Guinea and Liberia. Most developed countries provide 2-6 months paid maternity leave, paid at 80-100 of a woman’s previous earnings. Some countries allow women to stay at home with their children for up to 3 years without losing their jobs. You can read more about Parenting in the United States compared to other countries, here.

Money can’t buy happiness, unless we use it to make others happy. Our society needs to learn how to slow down and enjoy life, instead of missing it while trying to earn our way to happiness.

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