A new study finds that making money makes you happy.
The study from University of North Carolina and Columbia University found that a $10,000 income leads to a happier life, increased health, fewer regrets and a stronger sense of purpose.
But when you consider the research done on happier people, the authors found they are happier as a percentage of their income than when they are making a similar amount of money but at a lower rate of spending.
The researchers, from UNC’s Center for Applied Social Research (CASR) and Columbia’s Center on the Psychology of Wealth, conducted a study of nearly 6,000 people from 18 different countries.
Their results were published in The Journal of Happiness Studies.
They were surprised to see that individuals with a high income did not find themselves happy.
They actually had lower levels of positive feelings about the $10k in income.
Instead, the happiness that came with making money is not about what people earn in a dollar, but how their finances are set up.
The study notes that, on average, a person makes just $400 a year and has $3,000 saved.
“The more that income is set up for the needs of your future, the happier your life becomes,” said lead author Dr. Joseph C. Denny.
“We saw people make a decision that the money they make would enable them to stay financially secure.
We found that those who have money saved, they are more likely to do better financially.”
This study is significant because the study found that happiness is not solely a product of money.
Happiness is a social construct.
Researchers found that individuals are more contentment when they have access to a supportive network or a comfortable lifestyle.
And those who feel good about themselves in relationships and socially connect, do well financially.
What is Happiness?
According to the study, happiness is a subjective value, which comes in the form of how your mind and emotions interact with your behavior.
This means happiness is something that is linked to how you react to a situation.
Accordingly, the researchers found that people report the following emotions while participating in a task: Feelings of love, of support, of security, and of joy.
These emotions are linked to subjective happiness and happiness can be measured on a scale from zero to six.
When looking at happiness in relation to monetary rewards, the study determined that there are three types of happiness: People who feel positive about their life, feel content with what they have People with positive feelings are happy, feel secure, and have more positive life outcomes.
People in the middle are feeling neutral, but with a sense of loss, loneliness, or anxiety.
Overall, the findings demonstrate that the most valuable source of happiness is money, not social status, said Denny, who noted that the “happy people” found money to be the source of their happiness.
Here are some of the other benefits of making money: You can be happier on a consistent basis: With one dollar you can put on a pair of pants and get a haircut, or you can go on a vacation and have breakfast with family and friends.
You’re more likely than not getting a better job, a better salary, or a better home.
Not only are your money and relationships set up to sustain you, but you may also be creating the conditions for happiness to emerge.
Having more income means you can spend it on your future happiness:”The good news is that the more that you spend your money, the more happiness you get and the more productive you will be at work,” said Dennie.
“The bad news is we have an incentive to not spend your income at all.”
And having money also creates opportunities for wealth building: “There is actually a link between happiness and being able to do well, which is very interesting,” Denny said.
“You can make yourself feel good and you can get good, and then those kinds of feelings are more reliable indicators that your money is creating happiness in your life.
If you make money, you become happy, and if you have the ability to spend money, your happiness and well-being also get better.”
So don’t feel guilty for not living within your means.
Denny also recommended that the majority of people who have a goal set before starting a new job be looking at an additional $3k.
That extra $3K might actually provide you with the same kinds of financial security, security, opportunity, and motivation you have had prior to getting the job.
Make more money so you can have more.
As much as people love to say that we all make more money, there is really no truth to the notion that we should have a specific set of