FROM CNN's Jack Cafferty:
Turns out money really can buy happiness. But there's a catch: you have to spend it on someone else.
A new study conducted by Harvard Business School and the University of British Columbia finds that spending as little as $5 a day on someone else could make you significantly happier. I'll give you my address at the end of this.
Experiments on more than 600 Americans found people were much happier when they spent the money on others even if they thought they'd be happier spending it on themselves.
One of the lead researchers points out that this study goes along with a growing body of research that shows that helping others is the best way to help yourself.
Another expert suggests that it's experiences, not possessions, that actually make people happier. So if you buy yourself a new car or TV, the elation wears off relatively quickly. But if you take a friend out to lunch, you'll feel good longer. She also suggests that kind acts make you think that people are grateful and that is also linked with happiness.
Meanwhile, the study – published in this week's edition of the journal Science – may also explain why people aren't happier even though America keeps getting richer.
Here’s my question to you: Is spending money on someone else the key to happiness?
Interested to know which ones made it on air?
Mike from Staten Island, New York writes:
It does feel nice to buy people stuff, but the key to happiness? The statement goes a little too far. It's making someone else happy that may well be the key to it. That and having a fat, well-fed, and relaxed cat.
Jack, I spend about $75 per week sending goodies, like brownies and other edibles, to soldiers in Iraq and their thanks are so rewarding. Man, am I happy doing that.
Two thousand years after Jesus Christ, somebody finally figured out that doing something for others makes us happy. Great! Now let's see what we can do with peace.
You can't just skip the race and start at the finish line. Spending money on others doesn't make you happy, being happy makes you want to spend money on others. If you have someone in your life who you want to provide for, you're probably already happy.
Ellyn from Halifax, Pennsylvania writes:
Taking an older person out to dinner and horseracing is a lot more fun than shopping for clothes, I found out recently. It shows that sharing yourself, your time, and possibly money with another person is better for you spiritually than spending or hoarding it all for yourself.
Jack! Let's find out... Can you send me a few bucks? Thanks!
Craig from Tampa, Florida writes:
Must be, Jack. Every 5 to 6 years, I find a woman I can't stand and buy her a house. And no, I won't buy your book just to make you happy, because I've got mortgage payments on 3 ex-wives.
Greg from Oak Park, Illinois writes:
Then former Governor Spitzer must be very, very, very happy.