"Can Money Make You Happy?"

The answer seems to be "YES". The catch? You have to spend it on others. So claim a recent study by researchers at the University of British Columbia.

As part of the study, U.B.C. psychologists gave volunteers a wad of cash to spend; half of them were told to splurge on themselves and the other half to spend it on others. The givers rated themselves as being happier, on average, than the self-spenders. The findings mesh with those of a Harvard B-school survey of 16 people who were asked to measure their happiness before and after receiving cash bonuses. Those who spent more of their loot on others rated themselves as happier than their co-workers who had failed to spread the wealth. "These findings suggest that very minor alterations in spending allocations, as little as $5," says study author and U.B.C. psychologist Elizabeth Dunn, "may be enough to produce real gains in happiness on a given day."

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