In Money

Money really does buy happiness.. it does in countries, anyway

A new study was just released to say:

YES, making a boatload of money really does make you happier!

breadwinner-woman-cash-bills-money

The only downside is that it’s only applicable as a study on countries in general, not necessarily on the psychological well-being of individuals:

  1. Richer countries are happier
  2. The happiness boost is relative to what you already had before
  3. Richer countries are happier as they get richer
  4. There is no happiness plateau found yet
  5. Steady rise of satisfaction is correlated to a steady rise in income
  6. The only Debby Downer is if there is income inequality (U.S.)

Via

 


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Sherry of Save. Spend. Splurge.

I got out of $60,000 of debt in 18 months using TheBudgetingTool.com. Since then, I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K (savings rate = 85%). I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I also post daily on Instagram @saverspender.

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3 Comments

  1. Sylvie

    Studies like wealth and happiness are interesting, because they touch on correlation, but not on how thinking patterns (which themselves can be changed) inform our responses to money. There was a study where people were told that they had won the lottery, and then informed that it wasn’t the case. The study concluded that people could be quickly conditioned into a set response that lasts throughout their lives, even if it’s brief. If we could alter our thinking patterns around money and wealth, not just intellectually but emotionally, we would be able to reframe our notions of happiness.

    Reply
    1. Sherry of Save. Spend. Splurge.

      The problem is altering your environment so that it seems normal to everyone else too

      Reply
  2. S
    Sylvie

    Studies like wealth and happiness are interesting, because they touch on correlation, but not on how thinking patterns (which themselves can be changed) inform our responses to money. There was a study where people were told that they had won the lottery, and then informed that it wasn’t the case. The study concluded that people could be quickly conditioned into a set response that lasts throughout their lives, even if it’s brief. If we could alter our thinking patterns around money and wealth, not just intellectually but emotionally, we would be able to reframe our notions of happiness.

    Reply

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