USA Today has an interesting article "Money can buy happiness--to a point".
Folks at the $150,000 income level reported being considerably more happy than those at the $40,000 level, but the million dollar question is--why?
Is it that money really makes you happier, or is it that happier people are prone to make more money? Or, does some other outside factor influence both money and happiness?
I think that, although money can’t actually buy happiness, that having a certain amount of financial security makes it so that you can relax more, have less to worry about and feel more inclined to invest time and emotional energy in others (which can lead to greater happiness).
Also, according to Tim Sanders in his book "The Likeability Factor," folks who are happy (easy-going, positive, grateful, and emotionally plugged-in) tend to have an easier time getting jobs/clients, and also tend to have higher salaries than their pessimistic, anti-social counterparts.
Another part of this myth goes beyond salary into the realm of lifestyle--are people living within their means?
Someone who leads a low-key, simple lifestyle who makes $40,000 a year can feel much more wealthy than someone who makes $150K who leads an extravagant lifestyle, so I'm not buying the assertion that folks who make 6 figure incomes are more likely to be happy than someone at the $40,000 level.
Andrew Oswald, economist at the University of Warwick in England says,
"People exaggerate how much happiness is bought by an extra few thousand. The quality of relationships has a far bigger effect than quite large rises in salary.... It's much better advice, if you're looking for happiness in life, to try to find the right husband or wife rather than trying to double your salary."
Thanks to Ken at Coachamatic for hooking me up with the article.
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