Giving To Others Makes Us Happy
- November 28, 2022
- By: Greenpath Financial Wellness
Everyone talks about “paying it forward,” and researches seem to agree that if you give more, you’ll get more. Money can buy happiness when you spend it on someone else. Several studies show that giving to others makes us happy.
If you’re on a budget, you may be relieved to know that there are other ways of giving to others without spending money.
Donating your time can have a profound impact on your own personal happiness and mental health, while also spreading joy to others. Sharing in experiences and activities with other people, can also have a positive impact on our mentality.
A study found that Americans who ranked themselves as “very happy,” volunteered an average of 5.8 hours a month, versus those who volunteered just 0.6 hours per month, who ranked themselves as “very unhappy.”
Furthermore, those who donated 10% of their income were found to have lower rates of depression than those who don’t donate at all. This holiday season, think about ways you can give to those you care about.
Spread Joy and Save Money
Are you already stressed about the upcoming holiday season? View our webinar to learn how to maximize your dollars and create a memorable gift-giving season.
Happy People Earn More
According to this study, “students between the ages of 16 and 18, who described themselves as happier, ended up with incomes 10% higher than the average of study participants.” Just a simple mindset shift could lead to a higher income and a happier lifestyle.
Gratitude Leads to Making Better Financial Choices
Psychological Science declares, “Gratitude Helps Us Reach Financial Goals.” Research shows that people tend to favor short term gratification, versus the long term value of future rewards.
However, this study finds that feelings of “thankfulness” trigger us to be more patient and have a willingness to save more money. The study also found that when people are feeling grateful, we tend to behave in ways that benefit other people.
The gratitude study showed that gratitude led naturally, to the result of making better financial choices.
How can you apply this to your finances? A great place to start would be to call GreenPath. We can offer a free financial counseling session and go over your options. We can also help you create a budget or financial plan that will help you get to your goals.
Today, devote five minutes to write about something that makes you feel happy or grateful. You could also draw out a picture of what you’re grateful for. Think about those things that your thankful for before you make a purchase or plan out your monthly spending.
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