Everyone’s heard that ‘money can’t buy happiness (although some of us are cynical about that); however, a new study from the University of Pennsylvania has shown that people’s well-being rises with the amount of money they make.


This article by Cory Stieg, writing for CNBC, makes the following points:
  • For this new study, researchers had 33,391 employed people (aged 18-65) use a smartphone app that prompted them to check in on their emotions throughout the day.
  • The findings are based on seven years of data.
  • The data showed that all forms of well-being continued to rise as income levels rose.
  • During the Covid-19 pandemic, higher incomes increased people’s happiness slightly.
  • The Researchers say many factors besides money contribute to a person’s happiness, but more money does afford people more choice in how they live their lives.


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