Can money buy happiness? Science says yes it can

Only if what we're buying is time, rather than goods

The old adage may go 'money can't buy you happiness' but according to a recent study by the University of British Columbia, Canada, it actually can - but, not for the reason you might think.

So, what is it then? The reason money can actually increase your happiness is actually because it gives you the ability to have enough money to free up time. And that directly correlates to your wellbeing because a lot of people these days are experiencing a 'time famine' (a term that was first coined in 1999 to describe having a lot to do but no time to do it all.)

And, psychologists say that stress over a lack of time is what contributes to stress, anxiety and even insomnia.

So, it might be time to start thinking about how to save money and the simple way you could save £1200 a year so you can free up some of your time.

Apparently a third of what we buy every month is to do with buying ourselves more time, from food deliveries, to paying someone to do errands and hiring a cleaner.

So, if science says anything that buys you time is a good use of your money, who are we to argue eh?

Here's to prioritising time over money!