People need more than money to be happy. Here's why.
, makes some compelling points: He postulates that after you’ve applied your money to handle key needs , you’ll feel much more secure if you spend the money that’s still left on paying down your mortgage, buying different kinds of insurance, or arranging for an automatic savings plan. And such expenditures contrast sharply with acquiring things you might immediately enjoy but, monetarily, can’t really justify.
In households earning $15,000-$30,000, an additional $18,750 would be needed to create a positive shift in well-being; but in households earning $150,000-$250,000, the next higher well-being point would necessitate an augmentation of $147,000. To complete the picture of money’s buying security and well-being, two additional studies might be mentioned here, despite such subjective reports being suspect since they may not genuinely reflect what social scientists regard as “long-lasting” happiness or contentment:found that making $75,000 a year represented the ideal income, meaning that it most closely relates to individuals’ financial satisfaction and emotional well-being .
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