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Study: Money Really Does Make You Happier

There have been studies done on the question of if money can buy you happiness, and they’ve found a limit on how much happiness your income can buy you. But a new study from Penn Wharton School researcher Matthew Killingsworth says that’s not really true. His study looked at nearly two million data points from over 33,000 people giving snapshots of their daily lives and it found that increasing income affects well-being even into the hundreds of thousands of dollars. Previous studies have concluded income stops affecting happiness at an annual salary of around $75,000 a year. But his study found that each dollar someone makes matters the same to them, even when their salary gets to very high levels. Killingsworth found that one of the main reasons money makes people happier is that it gives them more choices. But he emphasized that money isn’t the only thing that happiness is about, and stated, “Although money might be good for happiness, I found that people who equated money and success were less happy than those who didn’t.” Here’s the complete story from StudyFinds.

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