Can Money Buy Happiness? New Survey Says Yes!
There has been a lot of talk lately about money. Two near record lottery jackpots will do that. I can't tell you how many times this week I've daydreamed of what I'd do if I won the Powerball or Mega Millions jackpot. Quit my job? Travel? Build a new house? Literally everything would be on the table! But the old saying 'money can't buy happiness' usually is quoted before we get too carried away. But can money buy happiness?
A new study says that, yes, it can. A new study by the University of Pennsylvania says that money can buy you happiness, and there might not even be a limit. A similar study back in 2010 found the same thing, that yes, money can make you happier, but ONLY up to around $75,000. More than that doesn't make you any happier day to day. But the new study did not find this kind of limit.
The new study found that 20 dollars means more to someone making $25,000 than someone who makes $100,000. But if your income doubles, you still see a boost in happiness, no matter how much you were making before. Someone who goes from $100,000 to $200,000 feels the same boost in happiness as someone going from $25,000 to $50,000.
Why is this? The study found that its all about control. When you have more money, you more choices on how to live your life. Total control. How many of us can really say that today? The study does importantly point out that equating money with success is still not a good thing. The study found the people who think being successful means being rich, are less happy.
So buy those Mega Millions tickets and keep dreaming!