More money means more happiness

 

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Does money make you happier? The short answer is: Yes. Of course, as ever there’s a bit more to it than that. So let’s dive further into the thorny questions around money and happiness. Conventional wisdom suggests that “money can’t buy you happiness.” And well-known research from 2010 had shown that people tend to be happier the more money they make only up until a point of about $75,000 a year. But according to a new study out of University of Pennsylvania’s The Wharton School, people’s well-being rises with the amount of money they make, even beyond $75,000. Money affords people autonomy to make choices about how they live their lives, Matthew Killingsworth, study author and senior fellow at Wharton, who studies human happiness, said in a release. When experts measure happiness in research, they consider people’s emotional well-being, or how they feel on a day-to-day basis, and how satisfied they are with the way their life is going overall.

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