The present study examines three widely-held assumptions about negotiation that have never been tested outside the confines of a laboratory: (1) it’s a daily activity, (2) it’s generally unpleasant, and yet (3) it leads to happier lives. Leveraging an app-based experience-sampling methodology, we found that 25% of daily interactions involve negotiation, often resulting in a short-term dip in happiness. However, frequent negotiators reported higher overall happiness, underscoring the long-term benefits of this skill. The most common negotiation activities involved 'reaching an agreement' and ‘making a joint decision’, while formal 'bargaining’ was less frequently used. We found negotiation to be more prevalent in professional interactions than in personal relationships. Additionally, our data revealed no significant gender or age differences in negotiation frequency, challenging traditional stereotypes.