New research hinted people who opt to chase a bit of extra cash all the time might not be doing much for themselves in terms of enlightenment.

However, their counterparts valuing free time have things figured out.

That's because University of British Columbia researchers found spending periods of leisure in meaningful ways rather than channeling all efforts into money-making leads to greater happiness, according to Today.

Study lead author Ashley Whillans stated though a portion of people exercise the opposite practice - prioritizing money over time - it's not impossible to make adjustments, Today noted.

"People just need to think more about how they make and spend money," Today quoted Whillans as saying. "You need to think about how your purchases shape the way you use your time."

Daily Mail noted how the researchers concluded valuing time yields more smiles than an overemphasis on money.

According to the Mail, the psychologists conducted six studies with 4,600 participants who were "asked real-world questions such as whether they would prefer a more expensive home but a shorter commute."

Like that example, a bulk of the questions forced those involved to choose having a healthy amount of free time - or making a ton of cash.

"Other questions were whether students would be happier studying a degree with longer hours that would lead to a higher salary, or one with fewer hours but would lead to a lower-paid job," the Mail's report read.

Justin Caba wrote for Medical Daily results were a near-split: A little more than half said time proved more crucial than money, the rest going the other way.

Gender and income weren't indicators of which way participants sided.

However, Medical Daily reported age was.

"As people age, they often want to spend time in more meaningful ways than just making money," Medical Daily quoted Whillans as saying. "Having more free time is likely more important for happiness than having more money. Even giving up a few hours of a paycheck to volunteer at a food bank may have more bang for your buck in making you feel happier."

Whillans and the research team gave a few tips for people who want to focus more on free time in their lives.

According to Medical Xpress, working slightly fewer hours, paying someone to do detested chores or volunteering all help.