They found that not having enough money definitely causes emotional pain and unhappiness. But, after reaching an income of about
In the study, researchers tried to evaluate the effect of money in two ways: One was on how people think about their lives and the other was on the feelings they have as they experience life. Responses from more than 450,000 Americans, gathered in 2008 and 2009, were evaluated.
The study found that people’s evaluations of their lives improved steadily with annual income. But the quality of their everyday experiences — their feelings — did not improve above an income of
“”More money does not necessarily buy more happiness, but less money is associated with emotional pain,”” the authors wrote. “”Perhaps
This is not to say that a sudden windfall of cash won’t brighten the day of your average
“”Our data speak only to differences,”” the authors wrote. “”They do not imply that people will not be happy with a raise from
So, while it’s important to have good feelings, it is also good to think your life is going well. What the study does not explain, the authors said, is which of those factors is more important.
The study was released Monday in the Proceedings of the National Academy of Sciences.