A new study published in the journal Science (Vol. 319. no. 5870, pp. 1687 - 1688) suggests people who spend money on other people experience greater happiness than spending money on oneself. This held true in a nationally representative survey study and in a field study of windfall spending.
Personally, I wonder if the happiness is coming from spending the money on someone, or simply doing something kind and helpful for another. In other words, I expect that it can come from other kinds of compassionate actions as well as giving money. From my own experience I have found that being focused on helping another can lift me from sadness and depression. In fact, at one point in my youth this was the primary strategy for keeping my sanity and staying out of deep depression.
I would also suggest, that the focus does not necessarily have to be on another human, but also could be on caring for the earth, or animals, or your garden.
The report, Spending Money on Others Promotes Happiness, by Dunn, Aknin, and Norton can be found in the March 21st issue of Science.
Science 21 March 2008:
Vol. 319. no. 5870, pp. 1687 - 1688
DOI: 10.1126/science.1150952
http://www.sciencemag.org/cgi/content/abstract/319/5870/1687
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