Money only buys happiness for a certain amount

ScienceDaily | 2/13/2018 | Staff
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"That might be surprising as what we see on TV and what advertisers tell us we need would indicate that there is no ceiling when it comes to how much money is needed for happiness, but we now see there are some thresholds," said Andrew T. Jebb, the lead author and doctoral student in the Department of Psychological Sciences. "It's been debated at what point does money no longer change your level of well-being. We found that the ideal income point is $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being. Again, this amount is for individuals and would likely be higher for families."

Emotional well-being, or feelings, is about one's day-to-day emotions, such as feeling happy, excited, or sad and angry. Life evaluation, really life satisfaction, is an overall assessment of how one is doing and is likely more influenced by higher goals and comparisons to others.

Variation - World - Regions - Satiation - Regions

"And, there was substantial variation across world regions, with satiation occurring later in wealthier regions for life satisfaction," Jebb said. "This could be because evaluations tend to be more influenced by the standards by which individuals compare themselves to other people."

Jebb's area of expertise is in industrial-organizational psychology. The senior author on the paper is Louis Tay, an assistant professor of psychological sciences. The research is published in Nature Human Behaviour.

Research - Data - Gallup - World - Poll

The research is based on data from the Gallup World Poll, which is a representative survey sample of...
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