LiveScience.com – Study: Money Does Not Buy Much Happiness

LiveScience.com – Study: Money Does Not Buy Much Happiness: “More chores, less fun
Krueger and colleagues also looked at data from a Bureau of Labor Statistics survey to see how people in different income brackets spent their time.
What they found was that those with higher incomes had more chores and less fun.
They devoted more time to working, commuting, childcare, and shopping and were under more stress and tension than those in lower income brackets.
According to government statistics, men who make more than $100,000 a year spend 19.9 percent of their time on passive leisure activities such as watching television and socializing. Meanwhile, men whose annual income were less than $20,000 spent more than 34 percent of their time dedicated to passive leisure.
Although the correlation between income and life satisfaction is weak, people are highly motivated to increase their income. This illusion may lead to more time spent on activities like commuting while sacrificing time spent on socializing, something that people consider amongst the best moments of their daily life, the researchers said in the study”