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How much money do you need to be happy? The answer of two Nobel laureates in economics

Written by hana

Does well-being depend only on our material condition? The answer is in this article.

From what amount do we say that money brings happiness?

It’s no secret that money has tremendous value in our society. For some, it is much more than that, because it can turn into a real obsession. In fact, having the most money in life can become a real leitmotif. In fact, It can help them achieve their dreams, help their family or some loved ones, especially if they are in need. In addition, money also allows you to feel more calm in the face of the hassles of everyday life. So it is not uncommon to see some people prefer the physical aspect over anything else. From there, how much is enough for our happiness?

A sum of money determined by two Nobel Prize winners in economics

Make it rain tickets

Make it rain tickets. Source: spm

$75,000 per year or approximately 62,000 euros, that’s enough to make anyone happy. Indeed, as the newspaper reported the pointEconomist Angus Deaton and psychologist Daniel Kahneman, both Nobel Prize winners in economics, stated in a paper published in 2010 that this amount would be enough for anyone’s happiness and emotional well-being. In fact and always according to them, it was pointless to earn more, because that would not risk increasing this feeling of happiness.

In addition, all people who did not reach this income threshold saw their emotional well-being as affected by their financial concerns. Otherwise and always according to Angus Deaton and Daniel Kahneman, Low income can make you feel bad In some cases, it leads to some unfortunate situations such as divorce, health problems or loneliness.

More money, more happiness!

To verify these assertions, Matthew A. Killingsworth, a researcher at the University of Pennsylvania and a doctoral student in psychology at Harvard at the time, developed the Track Your Happiness app for the iPhone. The goal is to question users about their emotions and activities. Thus, throughout the day, people were questioned randomly about their mood and what they were doing according to many criteria.

Thus, based on all the data collected, the researcher was able to compare the happiness and income of the users who were asked. Its conclusions were without appeal, By exceeding the annual income of $75,000, people’s happiness and emotional well-being have increased tenfoldaway from the initial observation of economist Angus Deaton and psychologist Daniel Kahneman.

Euro banknotes

Euro banknotes. Source: spm

In the end, according to Matthew A. Killingsworth, that sounds like it The influx of money and income contributes to a significant increase in the feeling of happiness and well-being Between people.

As you can see, happiness and money have a rather special relationship. From there to say, that could be enough to make us happy, and know that doubt is still allowed!

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hana

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