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, Priorities: Everyday work: time or money is more important? | message, Forex-News, Forex-News
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Priorities: Everyday work: time or money is more important? | message

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, Priorities: Everyday work: time or money is more important? | message, Forex-News, Forex-News


, Priorities: Everyday work: time or money is more important? | message, Forex-News, Forex-News
Many employees work hard in order to save enough money for their first home or to provide for their retirement. But does money really make you happy? Wouldn’t it be better to step back from your working hours and enjoy your free time more? A question that not only private individuals but also some scientists ask themselves. So did the two scientists from Harvard Business School, Ashley Whillans and Elizabeth Dunn, who carried out a study with more than 1,000 students on this subject.

Clear result

For this purpose, the test subjects were presented with two scenarios, of which time is more valued in the first and money in the second. They could choose which situation they were more likely to identify with. Two years after graduation, they should answer the study questions again and address their current situation. Most study participants indicated that they value time more and would sacrifice part of their salary for it. According to the study results, this is also the case in the first few years after graduation.

However, it is uncertain whether this can be considered a generally valid conclusion. Because it makes a difference whether a graduate comes from a rich family and therefore has no financial difficulties or whether you have to pay off a large mountain of debt after graduating. In the latter case, it is clear that the graduate has to sacrifice a lot of free time in order to earn enough money and thus do not have a wide range of options.

8-hour working day unhealthy?

Other scientists have also dealt with this topic and even made the assumption that a 40- or 60-hour work week is unhealthy because people can only concentrate effectively for four to five hours a day. Therefore one demands shorter working hours with the same wages. A corresponding pilot project was carried out in Sweden in 2016, where a six-hour working day was tested. The result of the pilot project showed that workers were more productive and less sick. One of the participating companies also produced at least as much as its competitors.

In Germany, such a working time model is still a long way off. In this country, employees still have to choose between money and free time. In some professions, such as those in which you are paid according to the collective agreement, it is indeed possible that you get more wages for less or the same work. But not all employees enjoy this luxury, as not all companies pay their employees according to collective bargaining agreements. They could then switch to the part-time model, but everyone has to decide for themselves whether it is financially feasible.

Finanzen.net editorial team

Image Sources: nd3000 / Shutterstock.com



, Priorities: Everyday work: time or money is more important? | message, Forex-News, Forex-News

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