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Can money buy you happiness?

In an experiment, individuals reported greater happiness if they used $40 to save time - such as by paying for chores to be done - rather than spending the money on material goods. Psychologists say stress over lack of time causes lower well-being and contributes to anxiety and insomnia. Professor Elizabeth Dunn, a psychologist at the University of British Columbia, Canada, helped carry out the research.

(Picture: Bank notes in a wallet. Credit: Chris Radburn/PA Wire)

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1 minute