I think psychologists would say most people want to be happy. But obviously there are many elements to making anyone happy. Does money appear to be one of them?
- research suggests that, yes, on average more money makes people happier
- makes sense – money represents access to resources, so the more money you have, the more resources you can have for yourself or others
- but there are many caveats to this relationship
- first, money is not the only thing that makes people happy, and may not even be the most important
- second – increases in money for a poorer person seems to increase their happiness more than the same increase in money for a richer person
- third, often don’t see general increase in happiness over time if average income in a country increases – makes sense, happiness is relative; also, the income increases may not occur for everyone
- so, maybe the takeaway here is that money isn’t everything, but it helps