Money and time are scarce resources that people think would bring them greater happiness.
In all probability, the main shared cause of dissatisfaction is lack of time, for those who are fortunate to have money because they have a job. People want to play for time and to make money, but unfortunately there is not a chance to beat at the same time in both. Instead, these resources are negotiated in many of the decisions, with our money we want to play for time. If we earn more money we can avoid waiting in queues or not doing some tasks by paying others a price.
People who choose time over money are happier. Hershfield, Mogilner, and Barnea, 2016
- More money is associated with greater daily happiness up to an annual income of $ 75,000 approximately.
- Research also suggests that having more time is associated with greater feelings of happiness and satisfaction with life.
- Based on previous work, the choice of time over money is linked to greater happiness. (1) time-focused individuals were more engaged with behaviors associated with happiness than those aimed at focusing on money (2) time-focused people also became more self-reflective than those that focused on money (3) temporary investments are more connected to themselves, are finalists, than monetary investments; (4) experiences (which require time to spend) produce greater happiness than material goods (which require spending money). And (5) how people spend their time literally adds to the life they live, while the same can not be said for financial expenses.
In a very schematic way we could make a picture like the one that follows to express the relationship between age, time, money and energy.
A practical experience: What do we make about our compensation and our working time? Apart from the fact that retribution does not make a barn but helps a little.
Let me connect you with the future of all people who, with the current retirement laws, will find themselves with the dilemma of money or time. What will happen to the voluntary retirement in those people that the ratio of substitution 1st Pension / last salary is very reduced? They will choose, like 64%, to remain active and continue to have higher incomes! I feel like here you should have a little introduction to your bullet points
- Behavior proposal: Choose money! But this way: in your ordinary retirement age you will have a bonus if you decide to retire.
- Instrument: Deferred distribution with a defined objective. It is perceived if the condition is met.
- Every year. It is retirement insurance. It is known as the Retirement Prize. It is a decision of your company.
Choosing money and time creates more happiness!