It is often mentioned that people are may be happier when they spend money (or provide resources) to others instead of simply benefiting themselves. So, how does your social tie with the person affect how much happiness and satisfaction you achieve from spending money on him/her? A study shows that spending money on a person with whom you have a strong social tie or close relationship to (this includes family and good friends) brings more happiness than spending money on an acquaintance or someone you have weak social ties to. This supports the idea that, from the point of view of the evolution of cooperation, people ultimately benefit from behaving generously but be done on how long the resulting happiness from such deeds usually lasts, but this does provide some insights on how our spending choices affect our happiness level, at least temporarily. Perhaps, to some extent, money can buy you happiness, as long as you spend it on a person or relationship that is important to you. However, note that the results of this study does not imply that you should not spend money on people with whom you have weak ties to, especially if interacting with them can help you develop stronger ties with them.
There are still many unanswered questions about how money and the ways it can be spent affect happiness. Perhaps, in the end, it really just comes down to how we use our own abilities and resources to create positive effects on the lives of people we care about.
So, the next time you find $10 in your pocket to spend on things that are not immediate necessities, what will you spend it on?
Reference:
Aknin LB, Sandstrom GM, Dunn EW, Norton MI. It’s the Recipient That Counts: Spending Money on Strong Social Ties Leads to Greater Happiness than Spending on Weak Ties. PLoS One. 2011; 6(2): e17018.