Money may not be the root of all evil.

FOX's Rich Denison explains:

It appears money, can indeed, buy happiness, when it's spent to save effort or time...

Researchers in British Columbia found people were much happier when they spent money to avoid chores, like mowing the lawn or house cleaning, when compared to those who shelled out money for wine, clothes or entertainment.

Study author Elizabeth Dunn says researchers believe rushing around and feeling pressed for time can take a toll on one's day-to-day happiness, and buying "time" can help reduce that stress...

Despite those findings, only two percent of the participants said they would spend money on things which would give them more time. Dunn believes most feel guilty about spending on things they can do themselves.

Rich Denison, FOX News.