Those incoming federal tax-rebate checks could do more than boost the economy. They might also boost your mood, with one caveat: You must spend the cash on others, not yourself. New research reveals that when individuals dole out money for gifts for friends or charitable donations, they get a boost in happiness while those who spend on themselves get no such cheery lift. Scientists have found evidence that income is linked with a person’s satisfaction with their life and other measures of happiness, but less is known about the link between how a person spends their money and happiness. ‘We wanted to test our theory that how people spend their money is at least as important as how much money they earn,’ said Elizabeth Dunn, a psychologist at the University of British Columbia. The findings, to be detailed in the March 21 issue of the journal Science, come as no surprise to some marketing scientists. ‘It doesn’t surprise me at all that people find giving money away very rewarding,’ said Aaron Ahuvia, associate professor of marketing at the University of Michigan-Dearborn, who was not involved in the current study. The research was funded by […]