This article shares about a study whose findings suggest that spending money to save time may reduce stress about the limited time in the day, thereby improving happiness. It also says that people who spend money to buy themselves time, such as by outsourcing disliked tasks, reported greater overall life satisfaction. Spending money on material goods however, does not have the same effect.
Despite the benefits, the practice of buying time is not as popular as one might expect. Why? One guess, at least in the United States is: a Protestant work ethic that values being busy or guilt over paying someone for a task that people could easily do themselves.