BLUF
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.Summary
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.
References
Recent Runway Posts related to this topic:
- The 3 Happiness Myths | The Runway (airforce.gov.au)
- Money can buy happiness: Here's how much you need and how to spend it, according to a financial therapist. | The Runway (airforce.gov.au)
References from the Web:
- FEB 2021 New Study Shows That More Money Buys More Happiness, Even For The Rich—Forbes
- MAR 2021 Money really does make you happier! People with higher incomes are prouder, more confident and less afraid than people with low wages, study finds—Daily Mail
- APR 2021 How to Buy Happiness—The Atlantic
Source Information:
- Article Source: CNBC
- Media Check: CNBC - Media Bias Fact Check (mediabiasfactcheck.com)
- LEARNING OUTCOMES—RUNWAY | The Runway (airforce.gov.au)
