Money and Happiness-Complicated
April 24, 2011
One recent study of money and happiness used data from the Gallup-Healthways Well-Being Index, which surveyed 450,000 Americans about their household income, emotional state during the prior day, and overall feelings about their life and well-being.
After analyzing the answers, they found that money did indeed buy happiness up to a point. As salary increased, so did people’s feelings about their emotional health and well-being — right up to a household income of $75,000 a year. After that, more money had little effect on personal happiness. However, how people perceived their life, did continue to increase with income.
Just three months later, another group of researchers attempted to answer the same question in a different study. This time, researchers looked at the connection between economic growth and happiness in 37 countries over an average time span of 22 years.
When it came to overall emotional health and longevity, the results of the survey fell more in line with what we have thought: money can’t buy happiness.
As these studies have shown, the equation is a lot more complicated than just saying more money equals more happiness.