We are discovering that money, whilst it can’t buy long term happiness, can in fact buy short term happiness (happiness blips), if we spend it on the right thing. Things like the right experience which can create a memory that last a lifetime, rather than a physical thing that depreciates and collects dust over a lifetime. Also, spending money on specific brands – you know, the ones that go out of their way to create a relationship with you which build a customer loyalty bordering on the fanatical. Or on those larger purchases that we have been dreaming of for a long time – big screen TV, or the furniture we have been waiting so long for. These can all create some form of happiness.
But, to get the best form of happiness from money, and to discover the key to a meaningful life, is to spend money on someone else. Studies have suggested this for a while, that we can find happiness in a generous act, and that as our incomes increase the levels of happiness we experience do not correlate. Meaning that our level of happiness does not increase at the same rate as our level of income – there is a certain point when our income level has no impact on how happy we. Perhaps that is because we are not spending our money on things that will create happiness, or perhaps it’s what Dave Ramsay suggests,
“Money won’t make you happy. Money just makes you more of what you already are”.
To find happiness and real purpose with our money is to spend
it on someone else, donate it to charity or otherwise give it away. This will
dramatically increases our level of happiness. Doing it once might make you
happy for a day, but making it a lifelong habit can make a lasting difference
in your life, and the lives of others.
“You don’t need to become a self-sacrificing martyr to feel happier. Just being a little more generous will suffice,” says Prof. Phillipe Tobler.
What is the secret to a long life? People love to search for that life hack that we can use which will magically make us live past 100. I’m sure you have seen the stories on the news of a person who has reached the amazing century and they all get asked what their secret is. There answers are usually anything from eating well, to getting enough sleep, or walking regularly, or never fighting with friends, or eating sushi everyday (to be honest, I think that last one was from a guy in Japan so it may not be relevant).
What if there was something else? What if we have been
missing a key ingredient?
I think we have…and it is generosity.
Not only does generosity make you feel good and increase happiness, we now know that it can make you live longer. A recent study discovered that those who participated in acts of generosity (giving of time and money to others) had reduced stress levels which is a known risk factor for many diseases. But not a minor reduction in stress, their generosity had reduced their stress levels so much that it was no longer a factor in predicting their mortality. Meaning that for those people, stress had been taken off the list of things that could kill them. Their generosity reduced their mortality rate more than exercising four times a week and going to church regularly (which both improve mental health and longevity – so perhaps do all of the above).
So, if you are looking for a long, happy and healthy life,
discover how you can be a little more generous.
It is something that studies have revealed frequently over the last decade, generosity is good for you. It feels good and it improves happiness.
It also turns out that the specific type of generous act can have an impact as well. A study was done to see what happens to the brain when people act generously. People were given the opportunity to give money to someone that they knew (someone they had been introduced to in the study) who needed it, a charity or to themselves. Now it is no surprise that when the study participants chose to give money to someone they knew who needed it, or to a charity, they felt good – better than when they gave it to themselves. The areas of the brain that ‘lit up’ where those that are linked to the reward system, providing a feeling of satisfaction and happiness. This is a common finding in a number of studies.
What was surprising is that when the participants chose to
give money to someone that they knew, this action, which is called targeted
support, was associated with diminished activity in the amygdala. The amygdala
gets a great deal of attention nowadays because it is the section of the brain
which is connected to emotions, the fight or flight response, anxiety, phobias
and post traumatic stress disorder. This diminished activity leads to less
anxiety and other mental health issues. Generosity is good for your mental
But it must be heartfelt rather than begrudgingly done. To
get the true benefits of generosity for your mental health it is best to be
generous on purpose. Be intentional with who and what you are giving to.