A recent survey revealed that those who spend a reasonable amount of money on other people experience greater elation than those who buy things for themselves. Scientists from the Harvard Business School gathered 632 Americans and questioned them about their income, their spending habits, and their level of happiness.

Separately, the experts gathered 16 professionals up for a bonus between $3,000 and $8,000, and asked them similar questions six to eight weeks before, and after the bonus.

For the first experiment, results showed that the respondents' income level was a non-factor to the level of happiness, which was higher for those who spent money for others, compared to those who merely spent for themselves. The second experiment showed that the increase in the employees' level of happiness was not affected by the size of the bonus. However, it appeared to rise in relation to the amount of money the employees spent on others, or given to charity, according to the Guardian.

"Most people would think that if you make more money you are going to be a lot happier," said Harvard's Professor Michael Norton. "Our results, and a lot of other people's results, show that making more money makes you a little bit happier, but doesn't really have a huge impact on you. Our studies suggest maybe that little changes in hwo you spend it make a difference."

The Telegraph reported that a follow-up experiment wherein the experts gave respondents either $5 or $20, to be spent the way they see fit, revealed that those who spend the money on others reported being happier compared to those who spent it on themselves.

"So instead of buying yourself a coffee buy your friend a coffee and that might actually make you a happier person," said Norton.

Norton co-authored the study with University of British Columbia's Dr. Elizabeth Dunn, and master student Lara Aknin.