Maybe money can buy happiness after all

Money, it seems, just might be able to buy you a bit of happiness this holiday season. Or so says research from the University of British Columbia and Harvard University.

The good news: It doesn't matter how much you make, because you can spend as little as $5 to get happy. But there's a catch: In order for your money to make you happy, you've got to spend it on others. Not yourself. Sounds like the perfect reason to pick up a little "extra something" for a loved one or co-worker.

What's the link?
The connection between your wallet and your happiness isn't as complex as you might think. "We found that while it might make you happy 'in the moment,' despite popular belief, spending money on big ticket items like new cars, jewelry or on vacations doesn't contribute to sustained happiness," says lead researcher, University of British Columbia assistant professor Elizabeth Dunn, PhD. And, using a year-end or holiday bonus to pay off bills isn't the path to happiness either.