It seems like money is always in the news. Both good and bad news.
Gas prices rise and then fall. Inflation skyrockets and then starts to slow. Unemployment reaches new lows and then layoffs go up. Money plays a role in our lives every day.
But does money buy happiness? It’s one of the oldest questions around.
A new analysis of several studies found that it does and it doesn’t. In short, one study about 10 years ago found that happiness increased slightly as annual income went up.
But the researchers also found that happiness leveled off after people started making over $75,000.
But just two years ago, a study found that happiness rose well beyond that amount with no plateau in sight.
The researchers who did this new analysis say they found that both may true with some people’s happiness keeps going up as the amount of money they make goes up. And there are other people who’s happiness is as not as dependent on higher income levels.
Says one of the researchers, money isn’t everything for emotional well-being with a lot of other moving parts.
As he puts it, “Money is just one of the many determinants of happiness. But while money is not the secret to happiness, it can probably help a bit.”
(Photo Getty Images)