The answer is a bit more complex than one might expect: What one does with that time is as important as the total amount of time. Usefulness and socialization during free time are very beneficial behaviors. In fact, an important observation of folks with long lifespans is their productive work/life balance.
By collecting data from 35,375 Americans, measuring the relationship between the amount of discretionary time and subjective well-being, the investigators in the above study were able to demonstrate a negative quadratic relationship. Namely, too little free time caused stress, and too much free time did not translate to greater subjective happiness.
Time-famine extends across civilizations and the globe. In pre-historic times, darkness was interrupted by having controlled campfires lighting the night. But technological advancement has sometimes accelerated stress—for example, by extending “daylight” productivity with the ubiquitous availability of electricity. The net effect is that lengthening the workday has cut into discretionary time. The current digital age and “work-from-anywhere” mentality are the current causes for less protected time. As each major step forward accelerated productivity, did these efficiencies cut into happiness?
Clearly, longer work hours and increased obligations translate into less time spent on activities linked to greater happiness such as socialization and leisure. Moreover, time pressure contributes to unhealthy behaviors such as poor food habits and lack of exercise. Time-stressed people report less happiness, more depression, and significant emotional exhaustion.
The opposite situation is excess time. An overabundance of time for an activity seems to have a diminishing effect on the enjoyment of the activity. A simple current example is over-eating Halloween candy. “Good” activities can also be overdone. Socializing is among the most enjoyable ways to spend time, but it has diminishing returns when too many interactions reduce the number of deeper relationships. As folks age, their circle of friends typically decreases in size but grows in meaningfulness.
Busy-ness can be a status symbol signaling substance. Importantly, occupation with worthwhile projects and activities is great, but inventing activities just to appear engaged is not only a waste of time but also unsatisfying.
Thus, both time affluence and scarcity are major influences on well-being. Finding the right balance of free time, purposeful activities, and meaningful socialization during a person’s life cycle—education, career, and retirement—is the goal to maximize well-being and health.