Can money buy happiness? This is the question that economic and social experts have been searching for for decades but did not come to any conclusion, but now a research has come out that has answered it.
A report published in the American newspaper Washington Post states that research has proven that increasing income increases happiness.
To reach a conclusion on this complex issue, Nobel Prize winning economist Daniel Kahneman organized a study in which Matthew Killingsworth from Princeton University of Pennsylvania also supported him. The results of the recent study differ significantly from a 2010 study which found that money had little effect on happiness, but could increase it somewhat if the annual income was up to $75,000.
Daniel Kahneman was among those who organized the 2010 study. That research became very popular and inspired by it, the founder of a famous credit company increased the annual salary of his employees to $70,000 while also bringing his income up to that level.
For the latest research, two surveys were conducted that interviewed 33,391 people between the ages of 18 and 65 and had a minimum income of $10,000.
According to the report, a smart app was used for the survey and at different times they were asked about their feelings which could be answered in the form of ‘very good’ and ‘very bad’.
According to the report, two major results of the research have been revealed. One of them is that earning $500,000 a year can improve feelings of happiness, and most participants insisted that this was the case, while those who said ‘money doesn’t make much of a difference to happiness’. ,’ their number remained up to 15 percent.
“Money is not everything, but one of the many factors of happiness.”
According to him, ‘Money is not the secret to happiness, but it can help increase it.’