Under what conditions does prosocial spending promote happiness? In a series of appropriately powered and pre-registered experiments, the present research revisited the role of impact, social connection, and perceived choice in maximizing the emotional benefits of spending money on others. In two exploratory studies, we found that happy (vs. less happy) prosocial spending experiences were marked by higher levels of impact, social connection and perceived choice (Study 1a and 1b). Consistent with these initial findings, three pre-registered studies confirmed that spending money on others was particularly rewarding when people were able to see the difference their generosity made (Study 2); when they felt a sense of social connection to the person or cause they were helping (Study 3); and when they felt that the decision to help was freely chosen (Study 4). Together, our findings corroborate previous research on impact, social connection and perceived choice, and highlight the importance of considering these key variables when evaluating old and new evidence on the emotional benefits of prosocial spending. In addition, our findings suggest that charitable organizations and policymakers should review their current solicitation strategies and pay more attention to people’s sense of impact, connection and choice when seeking charitable donations.