Does Money Buy Happiness? [Answered]

Time and time again we have heard that money can’t buy happiness. But is that actually true?  

Scientific Studies Have Confirmed What We Thought All Along

Money CAN buy happiness! It’s true, the amount of money you make directly corresponds to your amount of happiness!  Finally, the debate has been settled by a study conducted and published in the Nature Human Behaviour Journal.   

$75,000 a year

The study from Nature Human Behaviour Journal found that from $20,000 to $50,000 a year, you are twice as likely to be satisfied and content with life but that happiness increase starts to plateau around $75K. 

Basic Human Needs Dictate Happiness

The reason for the dramatic increase in happiness from $20K to $50K is due to basic human needs being met at $50K (i.e. clothing, food, shelter).  After the $50K mark, you start to fill your life with more “toys” which equate to “wants” rather than needs. 

Don’t Limit Yourself To A Number

Now just because you don’t make $75,000 a year doesn’t mean you can’t be happy. In fact, some of the happiest people on the planet make much less than that a year.  

We Are Our Own Worst Enemy

Human beings are very adaptive in nature which is a primary cause for our overall discontentment.

More Money More Problems?

We will never have enough money if we don’t focus on being content with what we have.  Our newest purchases rarely satisfy us for long so let’s slow down and be thankful for what we have.  

Your Happiness Begins At Home

As stated before, to become debt free and to start building wealth, we need a complete change in our mindset.  I will tell you that being debt free certainly increases your happiness, but from there – stop looking at what the neighbors have and build the life that suits you so you can help others. 

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