Giving To Others Makes Us Happy
- November 21, 2018
- By: Greenpath Financial Wellness
Generosity & Gratefulness Lead To Happiness
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 Thanksgiving, think about ways you can give to those you care about.
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 Helps You Reach Financial Goals
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, I want you to 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.
Dusti Young has a passion and energy for spreading financial wellness. Through her role at GreenPath, she connects people to financial wellness by working with GreenPath’s partners. Dusti has been with GreenPath for nearly 13 years and has held a number of roles, including financial counselor, business analyst, and her current role, Partner Relations Specialist.