Some people think having a lot of money means that you can become extremely happy. However, this isn’t always the case. Some people gain a lot of money, but they have to spend a lot of time working to make all the extra cash. Recently, a study has shown that there is more to the equation than just money. The study also determined the annual income a person should have to feel happy.
People in poverty have more mental problems related to money
Experts have discovered that poor people, or people at risk of going below the poverty line, experience the most stress. Each week, they have to choose what to pay first and how to live their lives as cheaply as possible. This continuous feeling of stress can have a very negative impact on a person’s body. Especially, the mental well-being of a person can be affected by the continuous stress that they experience.
It is not that rich people or people with higher incomes don’t have as much stress, but they at least don’t have the extra pressure of not knowing how to pay for the next bill, as they’re financial situation is different.
Happiness doesn’t keep growing with your income
You might think that your happiness will keep growing the more you earn, and while this might be true for the most part, there is a limit to the happiness you’ll experience. Experts say that whenever you’re earning between 75.000$ and 100.000$, you’ve reached the highest happiness levels you can get to by increasing your income. However, this doesn’t mean making more money will lower your happiness.
However, the impact that even more money will have on your happiness will be lower. So whenever you’ve reached a point where you feel happy and feel financially secure, you don’t have to keep chasing more! The conclusion is, yes, money can make you a lot happier; However, at a certain point, you might as well enjoy spending your time on fun stuff, instead of trying to make more money!
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- Featured image: Pexels, Pixabay
