Many Might Be Surprised to Know That Money Does Make a Person Happier

Decades have passed wherein people believed they could be happy with a smaller amount of money and that no one needs the big bucks. There’s even a famous song by popular rapper Biggie Smalls where there’s a phrase that specifies the more money you have, the more problems you have. However, a study confirms rich people are happier than those with fewer means.

The Truth

Daniel Kahneman and Matthew Killingsworth were the researchers from Princeton University and the University of Pennsylvania who looked at the numbers to conclude that more money does make people happier. The more an income increases, the better off people are, at least mentally. Killingsworth also did a previous study in 2010 that stated the amount stops impacting happiness after $75,000.

How the Study Was Made

The two researchers included 33,000 Americans, and the lowest salary was $10,000. The participants had an app installed on their smartphones to track their happiness levels throughout the day. In the end, it revealed that as their income rose, so did the participant’s happiness. That’s how researcher Killingsworth concluded the study in the simplest terms.

Bottom Line: Money Equals Happiness

Killingsworth mentions that this study and the results are not pertinent to those who are very well-off but unhappy. For those people, more wealth won’t make a difference to their state. He and his partner in the study were targeting people not originally well-off. However, he does mention that wealth is not the only factor of happiness, but it can help.

Study or no study, most people would agree that having more money would help raise the level of happiness in an individual, although it’s not the only thing people should focus on. Sure, make sure you’re wealthy enough to meet your needs, but if you’re unhappy, you will still be unhappy even if your salary rises.