Have you ever heard that Denmark is the happiest nation in the world? In this segment on happiness, we hear from our guest host Philip Michael who is part Danish. He says that money can buy happiness to a certain extent because poverty is stressful. Money can remove certain elements of struggle, and people equate less struggle with more happiness. Michael and co-host Jen Gottlieb discuss the correlation between money and positive emotions.
Can your happiness level off after a certain salary?
Historically, people thought there was a level of wealth where your happiness could level off. One study found that if you made $75,000 per year, you’d be happier than the average person. The theory was that this amount of money could remove certain struggles, such as paying bills, owning a house, buying groceries and more. But after that level of income, happiness would level off. However, a more recent study found that happiness can still increase past a $100,000 annual income. So are these theoretical correlations simply assumptions?
The spectrum of emotions are still there
You often read cover stories about celebrities saying fame and fortune made them unhappy or didn’t fix their problems. So does any amount of money really keep you generally happy? Once you get past a level of economic struggle, you still have the emotional spectrum of feeling sad, hopeless, angry and happy. But ask anyone in poverty, and they’d probably say that being able to afford basic necessities would improve their life. So what do you think? Can money buy happiness? Or is there something more under the surface?