Giving Away Money Can Make You Happy

A new study from Harvard Business School suggests that people who don’t consider themselves rich by anyone’s standards, but share what money they have with others actually feel wealthier and happier. Michael Norton, an associate professor of marketing and researcher on this project, presented his findings at the annual meeting of the Society for Personality and Social Psychology. Norton discovered that people who gave away $500 felt as good as if they had earned an extra $10,000. He surmised that being able to give away that much money increased a person’s sense of power and well-being. Norton also found that having a lot of money did not necessarily make a person happier.

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