Being "Time Affluent" vs Materially Affluent
This is from a yahoo finance article featured on lifehacker.com:
"Rich in Time
How much would people sacrifice to spend an extra hour a day with family or loved ones? A quarter would only give up 5 percent of their salary; 15 percent would sacrifice 10 percent of their income; 4 percent would give up 20 percent of pay; and 5 percent would tolerate a cut of more than 20 percent.
The group who most desired time rather than the money? Men age 45 to 54, with 61 percent reporting they would make the tradeoff. "We're one of few nations in the world without a mandatory vacation policy or a maximum limit on the amount of overtime you can ask someone to work," says Kasser. "We're time-poverty-stricken."
Kasser has conducted a variety of studies that found people who are "time affluent" are happier than those who are materially affluent. "Time-affluent people had more time to spend engaged in activities focused on personal growth, friends, and family and contributing to community" -- all essential factors in happiness, he explains.
Meanwhile, experts agree that financial comfort can be achieved by carefully managing the money you have -- something 23 percent of survey respondents said they don't have the knowledge to do."