7 ways to buy happiness By MP Dunleavey

Whether it's lending seed money, taking in a pet, buying a greenhouse or trading a high salary for a better quality of life, our readers know when parting with dollars makes soul-satisfying sense
Does your money make you happy?
The team here at Women in Red headquarters has launched the 2007 Happiness Challenge -- a live, interactive contest and somewhat unscientific field experiment -- to find out how you can use your money to buy more happiness.
This month, people were asked to submit stories describing how they had spent their money in a way that made them very happy.
The only caveat was that we asked people to focus on things that had brought them lasting joy or satisfaction, as opposed to the short-lived thrill of splurging at the mall. That's because as much as I love to shop -- and I suspect I'm not alone -- economists have yet to find a connection between sales at Best Buy and true happiness.
In fact, a lifestyle based on constant consumption probably won't make you happy, says Christopher Hsee, a professor of behavioral science at the University of Chicago's Graduate School of Business.
Hsee says that when we spend money on certain material goods or status items, there is ''no natural stopping point.'' There will always be a bigger house, a fancier car, a more expensive watch to go after.
When it comes to "intrinsic needs," as Hsee calls them -- including food, rest, relationships, health -- most people can naturally reach a point of satisfaction. Thus, spending more on quality of life, as opposed to stuff, appears to be a better investment.
Indeed, when people submitted their stories about how they had spent money on something that made them happy, those intrinsic values carried the day.
We ended up with seven winners in as many categories. But I want you to think of these folks not as winners but as front-runners, whose stories are excellent examples of how money can bring happiness.. Pursue growth One popular source of satisfaction can be thought of as investing in yourself.
After getting out of the military a few months ago, Monica Rivera found herself stuck in a job as a store manager. So she decided to invest $193.50, plus $96 for books, on an online class toward getting her college degree.
"I used to hate school and never realized how exhilarating it would be to turn in assignments," says Rivera, who lives in Omaha, Neb. "I know this is the beginning of a great thing, as well as a lot of expenses, but I'm looking forward to putting more time, effort and money into this one. Here's to looking toward the future!"
2. Buy back your time Spending, or surrendering, money to regain personal time is another popular investment.
Last year, Amy Weik decided it was worth giving up a raise and a promotion to have more time with her baby daughter.
Weik, who lives in the Baltimore area, decided to switch jobs -- taking a significant pay cut -- to reduce her three-hour daily commute and 12-hour-plus workdays. "What I gained was really worth the money I gave up," she says, estimating the total loss at $10,000 a year, including lost matching funds to her 401(k). "I got a life."
In addition to the sanity and the flexibility her new job provides, "I get home in time to play with my daughter and even relax a little."
The biggest payoff was when Weik and her husband learned recently that she was pregnant, "and instead of freaking out, we are only filled with joy. That is worth giving up untold amounts of money for!"
3. Don't forget 4-legged friends A striking number of people contributed remarkable stories about the joy of rescuing, fostering and adopting animals. One of my favorites:
Mary Lammé, who lives in Southern California, adopted Yaeger, an 8-year-old, 100-pound giant schnauzer who was blind. It was an investment of about $2,350 in adoption fees, vet bills and other assorted expenses during the two years he was a part of her household before he died.
"That was the best $2,350 I have spent in decades," Lammé says. Aside from the satisfaction of saving a life, she says, "over time he taught me more about life than I can probably convey."If an older, blind dog could adapt to a new owner and a new home, "how can I be scared to try something new, when I've got all my senses?" she asked.
Yaeger introduced Lammé to people in her own neighborhood and, she believes, showed her that it pays to be open to life.
"I learned that jumping in with both feet sometimes brings bigger rewards than analyzing my choices to death," she says. "We miss the old guy and don't miss the money at all -- not at any rate of return over any length of time."4. Upgrade your life Several people made a case for investments, even little ones, that ended up upgrading their entire quality of life.
"I live in Wisconsin, where the winters are brutal and spring never seems to come," says Kristin Zickuhr. "So this spring I spent about $250 on a small greenhouse and $300 for a cedar deck beneath it."
Though $550 wouldn't have gotten her a weekend in the Caribbean, Zickuhr's greenhouse brought her weeks of sunshine and warmth in the late winter and early spring. "I fixed it up with secondhand benches and a bamboo chair, and spent the spring out there reading books -- sitting quietly, soaking up the light," she says.
Considering how little she spent, "it brought a lot of happiness."
5. You gain when you give Giving to others turned out to be one of the biggest ways people spent money on happiness, and it doesn't take much.
Keri P., who preferred not to give her last name, contributes just $25 at a time to Kiva.org, an organization that lends small amounts of money to help impoverished people start or maintain their livelihoods. "I've helped people to buy rice to plant and flowers to grow, and I've given money for sewing machines and fabric and even cows," says Keri, who lives in Nashville, Tenn.
Kiva then pools these microloans so that specific individuals -- you can read their profiles on the Kiva Web site -- can accomplish their goals.
"It makes me happy that I can see exactly where my 'charity' is going," she says, adding that as people pay off their microloans, she reinvests the money in the next person. "I have a portfolio of people I've loaned to. It's almost like you know them personally."
6. Invest in bonds Another rewarding way to invest your money is in folks you love.
Several years ago, Rhodora Bustos borrowed $1,200 for plane tickets to get herself and her two young daughters out of a violent relationship. She then lived with family members while she saved money to get back on her feet, buy a car and make a down payment on a condo."There were many years there where I sacrificed, swallowed pride and started to live again, after that mind-numbing hell," says Bustos, who lives in San Joaquin, Calif. "I know that I bought myself freedom; I bought my family a good future and happiness that is immeasurable."
7. Invest in financial security There was one contributor who declined to give her real name, but I would be remiss if I didn't include her smart happiness investment -- in her own long-term financial security.
By taking profits from the sale of her house in 2005, she was able to make a 45% down payment on a condo last year, which slashed her housing costs. Even better, by lowering her overhead she has been able to redouble her savings efforts, maxing out her 401(k) and Roth IRA contributions, and socking away $20,000 in an emergency fund.
Some might argue that she would have been better off making a lower down payment and investing the difference, but sometimes the right thing to do is doing what feels right to you.
The Happiness Challenge continues What I like about that last story is that it highlights the point of this Happiness Challenge.
It's so easy to drift through life, thinking of money as a merely financial matter -- and happiness as an emotional one. What these stories demonstrate is that the two are connected, that how you spend can change your life for the better.Aside from the obvious emotional impact of putting your money where your happiness lies, is there a financial benefit, as well, when you spend less on stuff and more on life?
'Money Can Buy Happiness'
MSN Money's MP Dunleavey punctures myths about personal finance in her book "Money Can Buy Happiness: How to Spend to Get the Life You Want." Dunleavey shows readers how to abandon empty spending and make more satisfying investments. Visit her Web site to find out more.