Posted by: Kate Ashford | May 25, 2010

Does More Money Make You Happier?

Piggy Bank cartoon
We all know that money can’t buy happiness. But according to a new Harris poll, it helps.

About 38% of people with an income of $75,000 or more a year described themselves as “very happy,” compared to 28% of people making $35,000 a year.

I don’t know about you, but I don’t find this particularly surprising. No, money can’t buy happiness. But it definitely makes life easier. When you can pay for the necessities without scraping, and when you aren’t working two jobs to make ends meet, and when you actually have enough money left over to save for things—retirement, college—life is a lot less stressful.

Then again, there are plenty of people out there making plenty of money who aren’t happy. In fact, if you’re doing the simple math, you’ll realize that 62% of people making $75,000 or more a year don’t describe themselves as “very happy.” So clearly there’s more to it than what’s in your bank account.

Personally, I think it helps if you love what you do. You can make all the money in the world, but if you’re miserable for the 40+ hours that you spend working each week, there’s going to be plenty of unhappy in your world. Been there. Done that. (Before I started writing, I was a business consultant. Made good money. Hated my life.)

Does money make you happy? Does it help?

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(Cartoon from thomastoons on Flickr.)

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Responses

  1. I totally agree. We recently went from making 40k to 90k per year. I am not so much ‘happier’ but I am a lot less stressed. More money gives us freedom to buy ‘things’ to make us happy, and more money has given us the opportunity to pay for babysitters & go on more dates. My husband & I are both less stressed & we get along much better. Money isn’t everything, but it makes most everything better.

  2. Money can’t buy you happiness, but lack of it sure can bring misery!

  3. I’ve always said that “Money does not buy happiness, but it sure does not hurt”. I think it totally relates to the amount of stress. If I want to take a day off, knowing I can and not suffer financially is a great feeling. The not worrying part is what makes me happy.


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