Giving vs. getting

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Illustration: Sarah Grillo/Axios

Here's one instance where money does buy happiness: when you give it away. Why it matters: The joy of getting money seems to fade, while the joy of giving it stays strong, The Wall Street Journal reports. ? Case in point: In one study, University of Chicago researchers compared the relative happiness you get from giving vs. getting. Participants got $5 a day for five days and were instructed to spend it the same way every day. But some were told to spend the cash on themselves *(such as buying a coffee) — and others, on someone else (leaving a tip in the jar at the coffee shop). They all started with similar happiness levels. But those who spent the money on themselves reported that the joy of doing so diminished day by day. Those who gave it away felt as much joy doing so on the fifth day as on the first. ? Zoom in: The Journal has two useful tips for making generosity count. Don't do it passively. Putting a credit card down for a subscription-style donation, where you automatically give to a cause every month, erodes your connection to that cause. And you can lose the mental-health perks of giving. Follow the money. Pick charities that tell you exactly how your money is being used. Seeing the impact of a donation makes us likelier to give again. Zoom out: There are endless ways to be generous that don't cost a dime. Americans are spending less time volunteering than we did in the early 2000s. But nonprofits still need help. There are many informal ways to give your time — from cooking dinner for friends who just welcomed a new baby, to leaving a great online review for a local small business. What's next: Giving Tuesday, the first Tuesday after Thanksgiving, is coming up. It's a great opportunity to find new ways — whether it's donating, volunteering or sending a thank-you note — to make the world a brighter place.