Or can it? The saying ‘money can’t buy happiness’ isn’t always true…
If you live below the poverty line money will ensure you can buy yourself physical security and feel emotionally better due to the reduced stress that lack of money brings with it.
Disposable income can also be used to help others. Research suggests people who help others are happier than people who spent all of their money on themselves. Spare income allows us to donate to causes close to our hearts and leads to happiness.
Once we pass a certain threshold, namely $75,000US according to Economists Daniel Kahneman and Angus Deaton, we won’t be any happier when we earn more and upgrade existing and add more possessions to our own private empire.
The things that bring long-term satisfaction and contentment can’t be bought with money, on the contrary, instant gratification particularly can actually have the opposite effect. [Read more…]