07/12/2011 08:21 am ET Updated Sep 11, 2011

5 Ways to Better Manage Your Time

We all know once basic needs are met, money does not guarantee happiness. But what about how we choose to spend our time?

"People often make career choices based on how much money they envision they can make now or in the future. Surprisingly little thought goes into how they will be using their time -- whether they can control their time, who they will spend their time with and what activities they will spend their time on," says Jennifer Aaker, marketing professor at the Stanford Graduate School of Business.

Is your happiness connected to how you spend money or time? What experiences have given you the greatest happiness? What would you change about how you invest your time?

Here are five different ways to look at time that can boost your happiness bottom line. Let's take a look at those aspects and a few more as they relate to day-to-day life.