Free time is more valuable than money, according to a study
Money is at the root of all evil. Money makes the world turn. Money can’t buy you happiness. It’s the topic at the top of everyone’s list when it comes to promotions at work, and it’s the topic of concern during this global economic downturn and the anticipated downturn. However, money and materialism are second only to free time of all benefits.
A study by Manolis and Roberts (Xavier University, Cincinnati, OH and Baylor University, Waco, TX.) confirms that both materialism and compulsive buying have a negative impact on adolescent happiness. 1,329 public school students were tested and the results showed that the more materialistic they were and the more inclined to make compulsive purchases, the lower their happiness levels. On the other hand, when they were provided with just the right amount of free time, their happiness levels increased. The study, published in the journal Applied Research In Quality Of Life, also found that having excess free time reduces the negative impact of materialism and compulsive shopping. That is, neither being too busy nor having too much “free time” was associated with greater happiness.
These results are exactly what those who live a minimalist lifestyle have been preaching. It is the rush to acquire and possess that creates stress and anxiety, rather than the possession that provides a sense of comfort. When you “own” the right amount of assets and have a comfort level with your finances, stress is minimized.
On the other hand, the need to possess can be a psychological handicap in itself. Like overeating, excessive shopping is linked to poor psychological health. Using material possessions as status symbols can also be an indicator of insecurity or a lack of emotional comfort.
When a person gives up the urge to score their success by the amount of money or the dollar value of their possessions, they can find more time to engage in activities that provide greater intrinsic satisfaction. Whether one spends ninety minutes savoring the flavor of a $200 meal, or ninety minutes relaxing and watching the waves crash into the sand at their favorite beach, everyone has maximized their hour and a half. However, which one took the most effort to acquire? Indeed, the time spent working to earn the two hundred dollars is greater than the time required to unfold a beach chair and drop into it!
We eagerly await the day when we can retire from “the rat race.” As the big event approaches, we stress over whether we will really have enough money to enjoy life. We plan every moment before and immediately after the day that we are no longer tied to the need to make money. No mortgage, finally!
But did we need that huge house, that huge debt, those expensive furniture, those fancy clothes for our retirement? Not likely! The first thing we do is plan a relaxing vacation filled with, you guessed it, free time. It hasn’t been free at all. It has cost us time, health, mental anguish and stress.
Today is the day we have to retire. It’s the day we need to say, “I’m finding time for myself.” It’s the day we need to break out the piggy bank that holds the cash for our next big purchase. And it’s time to invest in the most valuable and most satisfying asset we can possess: free time!