Money can buy happiness, it turns out, if you spend it on someone else: in experiments and in survey data from 136 countries, people who spent on others reported a bigger lift in mood than those who spent it on their own wants

July 16, 2026 - 13:35

For years, the old saying has been that money cannot buy happiness. But a growing body of research suggests that might depend on how you spend it. New findings from a large-scale analysis of survey data across 136 countries, combined with controlled experiments, indicate that people who use their cash to benefit others report a greater boost in mood than those who spend it on themselves.

The research, which looked at both small, everyday purchases and larger gifts, found a consistent pattern. Whether someone bought a coffee for a friend, donated to a charity, or bought a meal for a family member, the emotional payoff was higher than when they spent the same amount on their own wants. This effect held true across different income levels and cultures, from wealthy nations to poorer ones.

Psychologists describe this as a "warm glow" effect. The act of giving appears to activate reward centers in the brain, creating a sense of connection and purpose that self-focused spending does not provide. In one experiment, participants who received a small sum of money and were told to spend it on someone else reported feeling significantly happier at the end of the day compared to those who spent it on themselves.

The findings challenge the common assumption that personal consumption is the most direct route to satisfaction. While buying a new gadget or a nice meal can provide a temporary lift, the research suggests that the happiness from such purchases fades quickly. In contrast, the positive feelings from giving seem to linger, often strengthening social bonds in the process.

Of course, the studies describe average effects across groups of people. Individual results can vary based on personality, financial security, and the specific nature of the gift. But for those looking to get the most emotional value out of their money, the data offers a clear suggestion: consider spending it on someone else.