People say “money makes the world go round.” Plenty of us spend our lives trying to earn as much as possible. But how does money actually affect personal happiness? Even if you have enough for a comfortable life—and yes, that does help up to a point—research suggests that more money doesn’t automatically mean more joy.
What might work, though, is using your money for others. That idea isn’t new or flashy; it’s age-old wisdom. Most of us have heard some version of the saying: “It’s more blessed to give than to receive.”
In practice, we often feel happier when we give or help than when we’re the ones receiving. That advice can run against our built-in self-preservation instinct, which is why it’s worth repeating.
Evidence
One study found that many people expect spending on themselves to make them happier than spending on others.
But several different studies showed the opposite. In a series of projects, researchers tracked how employees felt before and after receiving annual bonuses. Regardless of the bonus size, those who spent more on others—or donated to charity—reported higher happiness than those who spent mainly on themselves.
In another experiment, participants were randomly asked to spend a small amount ($5 or $20) either on themselves or on someone else. Those who gave to others reported feeling happier. The takeaway: even when the amount is small and the choice isn’t ours, giving can still boost happiness.
These findings aren’t limited to North America. Cross-cultural research spanning 136 countries found that prosocial spending is consistently linked with greater well-being around the world.
Why Giving Feels So Good
Part of the lift comes from how giving shapes our self-image. Helping others strengthens the sense that we’re grateful, responsible, and generous—identities that tend to make us happier. Giving also deepens social ties, and people with strong relationships are generally happier than those without them.
Spending on others is also a way of “buying experiences.” Even if the purchase is material, you’re really purchasing a moment: surprising someone you love, helping a friend, brightening a stranger’s day. You’re investing in a memory and a relationship, not just an item.
Humans are social creatures wired to cooperate. Our brains include reward systems—like the neurotransmitter oxytocin—that help regulate social bonding. While oxytocin is often called the “love hormone,” it plays a broader role in shaping our interactions and can intensify the warm glow we feel when we support people we care about.
Connecting With the Wider World
This doesn’t only apply to helping friends and family. Donating to causes beyond our immediate circle can feel meaningful, too, though people sometimes feel more connected to groups that share their background or community. Expanding our perspective—seeing ourselves as part of a larger human family—can help us recognize our own good fortune and find motivating ways to lift up those who’ve had less.
How we relate to the world shapes how others see us—and how we feel about ourselves. In the end, we help ourselves most when we help others.
— Titan007
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