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.

Am my own Sugar Daddy. Am a millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. 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 with an average lifetime savings rate of 50%. I have 11 side incomes that are on track in 2020 to make me $50K - $75K. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. 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. 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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In a nutshell…

Save. Spend. Splurge.
[ wealth. style. minimalism. ]

——

MOST DEBT: cleared $60K in 18 months

MONEY: Hit $1M personal net worth At 36

NEW GOAL: $1M in invested assets

FAVOURITE DAY: payday

HATES: being late & lazy people

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——

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