Money can increase happiness, but only to a certain degree, according to a new study that supports what many people have long assumed. According to research, 20% of people experience sadness regardless of their income, even if the majority of people feel happier when their income rises.
The psychologists Matthew Killingsworth and Daniel Kahneman conducted the study, which looked at the relationship between wealth and wellbeing. According to their findings, however personal characteristics like relationships, mental health, and life satisfaction all play a part, financial stability is a major contributor to happiness. Some people struggle emotionally and have long-standing stress that cannot be resolved by wealth.
Higher salaries tend to make those who are already generally happy even happier, according to the study. Nevertheless, even if their bank balances increase, people who suffer from persistent discontent don’t notice any improvement in their emotional health. This calls into question the widely accepted notion that happiness is correlated with wealth.
What does this signify for the quest for wealth, then? Financial security isn’t a guarantee of happiness, but it can make life simpler by facilitating better healthcare, lowering stress related to payments, and creating more chances. Putting more emphasis on personal fulfillment, meaningful connections, and mental health may be just as important as pursuing a higher salary, according to experts.
At the end of the day, money matters but it’s not the only thing that does.
