--- title: Life: 5 Ways Money Can Make You Happier description: Buy the means that will bring another smile to your face canonical: https://time.com/3914514/money-spending-happiness/ author: Eric Barker article:opinion: true article:content_tier: free article:published_time: 2015-06-11T04:01:22.000Z article:modified_time: 2026-08-04T07:49:33.485Z article:section: Ideas og:title: 5 Ways to Spend Your Money That Will Make You Happier og:description: Buy the means that will bring another smile to your face og:url: https://time.com/3914514/money-spending-happiness/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt7b2fe96ab4bbe3e8/698853aa06f2c176a833a8d6/121330714-copy.jpg?branch=production&width=507&quality=75&auto=webp&crop=16:9 og:image:width: 507 og:image:height: 285 og:image:alt: piggy-bank og:type: article twitter:card: summary_large_image twitter:title: 5 Ways to Spend Your Money That Will Make You Happier twitter:description: Buy the means that will bring another smile to your face twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt7b2fe96ab4bbe3e8/698853aa06f2c176a833a8d6/121330714-copy.jpg?branch=production&width=507&quality=75&auto=webp&crop=16:9 ---  # 5 Ways to Spend Your Money That Will Make You Happier > Sponsored content. 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Inside TIME is the newsletter where TIME's Editor-in-Chief explains cover selection and the editorial reasoning behind major stories. It is free at time.com/newsletters. #### Who is the editor of TIME? Sam Jacobs is TIME's Editor-in-Chief. He writes Inside TIME, a twice-weekly newsletter about the newsroom's reporting and editorial decisions. #### Is Inside TIME free? Yes. Inside TIME is a free newsletter, available at time.com/newsletters. A paid TIME subscription is separate and available at time.com/subscribe-agent. ## Video: How to Maximize Happiness With Your Spending: An Economist Explains [Watch (HLS stream): How to Maximize Happiness With Your Spending: An Economist Explains](https://cdn.jwplayer.com/manifests/Ypg3UoAM.m3u8) (1:29)  _Published 2014-06-09. University of Michigan economist Justin Wolfers explains how best to spend your money to maximize happiness._ by [Eric Barker](https://time.com/author/eric-barker/) ## Eric Barker Jun 11, 2015 4:01 AM UTC  Pink piggy back Pink piggy back Getty Images by [Eric Barker](https://time.com/author/eric-barker/) ## Eric Barker Jun 11, 2015 4:01 AM UTC ### Can Money Buy Happiness? Yes. But you might be surprised by the ways you should spend it. Harvard professor [Michael Norton](http://www.bakadesuyo.com/2013/05/harvard-michael-norton-happier/) and co-author Elizabeth Dunn have a new book out, [Happy Money: The Science of Smarter Spending](http://www.amazon.com/gp/product/1451665067/ref=as%5Fli%5Fss%5Ftl?ie=UTF8&camp=1789&creative=390957&creativeASIN=1451665067&linkCode=as2&tag=spacforrent-20), that details the research on the 5 best ways to turn your dollars into lasting smiles. What are they? ### 1) Buy Experiences Via [Happy Money: The Science of Smarter Spending](http://www.amazon.com/gp/product/1451665067/ref=as%5Fli%5Fss%5Ftl?ie=UTF8&camp=1789&creative=390957&creativeASIN=1451665067&linkCode=as2&tag=spacforrent-20): --- > “” --- (For more on the science of being happier and more successful, click [here](http://www.bakadesuyo.com/2014/09/be-more-successful/).) ### 2) Make It A Treat Via [Happy Money: The Science of Smarter Spending](http://www.amazon.com/gp/product/1451665067/ref=as%5Fli%5Fss%5Ftl?ie=UTF8&camp=1789&creative=390957&creativeASIN=1451665067&linkCode=as2&tag=spacforrent-20): --- > “” --- (For more on how ancient philosophy can make you happier, click [here](http://www.bakadesuyo.com/2014/01/ancient-philosophers/).) ### 3) Buy Time Via [Happy Money: The Science of Smarter Spending](http://www.amazon.com/gp/product/1451665067/ref=as%5Fli%5Fss%5Ftl?ie=UTF8&camp=1789&creative=390957&creativeASIN=1451665067&linkCode=as2&tag=spacforrent-20): --- > “” --- (To learn how to stop being lazy and use your time more productively, click [here](http://www.bakadesuyo.com/2014/08/how-to-stop-being-lazy/).) ### 4) Pay Now, Consume Later Via [Happy Money: The Science of Smarter Spending](http://www.amazon.com/gp/product/1451665067/ref=as%5Fli%5Fss%5Ftl?ie=UTF8&camp=1789&creative=390957&creativeASIN=1451665067&linkCode=as2&tag=spacforrent-20): --- > “” --- (To learn what research says about how millionaires really become millionaires, click [here](http://www.bakadesuyo.com/2014/09/millionaires/).) ### 5) Invest In Others Via [Happy Money: The Science of Smarter Spending](http://www.amazon.com/gp/product/1451665067/ref=as%5Fli%5Fss%5Ftl?ie=UTF8&camp=1789&creative=390957&creativeASIN=1451665067&linkCode=as2&tag=spacforrent-20): --- > “” --- (For more on how nice guys can finish first, click [here](http://www.bakadesuyo.com/2013/04/interview-wharton-business-school-professor-teaches-approach-give/).) More from [Michael Norton’s](http://www.bakadesuyo.com/2013/05/harvard-michael-norton-happier/) TEDx talk here: To learn more check out [Happy Money: The Science of Smarter Spending](http://www.amazon.com/gp/product/1451665067/ref=as%5Fli%5Fss%5Ftl?ie=UTF8&camp=1789&creative=390957&creativeASIN=1451665067&linkCode=as2&tag=spacforrent-20). **Join over 190,000 readers. Get a free weekly update via email** [**here**](http://eepurl.com/o6uAD)**.** **_This piece originally appeared on_** [**_Barking Up the Wrong Tree_**](http://www.bakadesuyo.com/2013/05/can-money-buy-happiness-2/)**_._** Related posts: [How To Stop Being Lazy And Get More Done – 5 Expert Tips](http://www.bakadesuyo.com/2014/08/how-to-stop-being-lazy/) [How To Get People To Like You: 7 Ways From An FBI Behavior Expert](http://www.bakadesuyo.com/2014/10/how-to-get-people-to-like-you/) [New Harvard Research Reveals A Fun Way To Be More Successful](http://www.bakadesuyo.com/2014/09/be-more-successful/) ```json [{"@context":"https://schema.org","@type":"OpinionNewsArticle","@id":"https://time.com/3914514/money-spending-happiness/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3914514/money-spending-happiness/"},"headline":"5 Ways to Spend Your Money That Will Make You Happier","datePublished":"2015-06-11T04:01:22.000Z","dateModified":"2026-08-04T07:49:33.485Z","description":"Buy the means that will bring another smile to your face","url":"https://time.com/3914514/money-spending-happiness/","keywords":["Psychology","Money","Life","Happiness","Happy"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt7b2fe96ab4bbe3e8/698853aa06f2c176a833a8d6/121330714-copy.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Eric Barker","jobTitle":null,"url":"https://time.com/author/eric-barker/"}],"articleSection":"Ideas","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt7b2fe96ab4bbe3e8/698853aa06f2c176a833a8d6/121330714-copy.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"piggy-bank","caption":"piggy-bank","creditText":"Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/ideas/","name":"Ideas"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/psychology/","name":"Psychology"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/3914514/money-spending-happiness/","name":"5 Ways to Spend Your Money That Will Make You Happier"}}]},{"@context":"https://schema.org","@type":"VideoObject","name":"How to Maximize Happiness With Your Spending: An Economist Explains","description":"University of Michigan economist Justin Wolfers explains how best to spend your money to maximize happiness.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/Ypg3UoAM/poster.jpg?width=720","uploadDate":"2014-06-09T22:13:22.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/Ypg3UoAM.m3u8","embedUrl":"https://time.com/3914514/money-spending-happiness/","duration":"PT1M29S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/3914514/money-spending-happiness/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}}] ```