Give or spend?

Elizabeth Dunn from British Columbia University did an interesting research, measuring happiness before and after the experiment, with everyone from group A giving 20$ to someone from group B, and everyone from group B spending the money on something they wanted but wouldn't spend their money on it.

According to the result, the people from group A had an increase on overall daily happiness, the people from group B had no change or a decrease in their overall daily happiness.

I always allocated 5-10% of my total income to "Give" account, now i find out why is it so important to do that. Some of my friend prefer to donate a part of their time, but each of us can choose the best alternative, as time is money. At the end of the day, who can put a price on happiness?

Another similar experiment, on toddlers this time, showed the same conclusion, that giving make us happy.

(Full experiment here)

Money and happiness research

One more reason for pursuing your own financial independence:

A research done in regard to the direct link between the amount of money you receive and your happiness shown us something very interesting. Happiness increase directly linked with money received for your work, fast at the beginning, and then slows down, reaching a plateau after 70.000$ per year. So, after this limit, your happiness will not increase at all.
This is something contrary to even the hedonic adaptation of a normal person in normal circumstances, but for us, the ones engaged in F.I.R.E, is a good news, that will support our theory that you do not need huge amounts of money to be happy, just enough to live comfortable.

That's all for today, have a good week!
G.