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Lifestyle advice & expert opinion to feel good & achieve more

more money equals more happiness!

happiness has a multitude of measurements including a sense of purpose, relationships, health and income. Financial difficulties have been shown to increase people’s risk of mental health conditions [1] but conventional wisdom dictates that money does not lead to happiness, however, a new study of 33,000 people reveals that the more money we have, the happier we are! [2]

wellbeing continues to rise with income

the study revealed that higher earners are happier because they have an increased sense of control over life. Previous research suggests that your maximum happiness derived from money plateaus once annual household income hits $75,000 [3] however recent research by Matt Killingsworth, Senior Fellow at the University of Pennsylvania, shows no inflection point where money stops mattering. Instead, it keeps increasing. “when you have more money, you have more choices about how to live your life” and more opportunities to spend on others[2].

the gift that keeps on giving!

spending on others generates more happiness than self-indulgence [4] and a brain imaging study at the University of Zurich, demonstrated that adults who decided to spend on others across 4 weeks made more generous choices and experienced more happiness [5].

“it's not all about the money, money"

(obviously)

 

there are many contributory factors to happiness. Here are 3 evidence-based areas to improve your life satisfaction index.

1. a sense of purpose

In 2019, a Health and Retirement Study on 6,985 adults suggested that having a sense of purpose in life can improve physical and mental health and overall quality of life. The purpose of life can be defined as stimulating goals that promote healthy behaviours, and gives meaning to life. Feeling a sense of purpose in life has been shown to protect people with depression from a decrease in life quality and helped them to accept their depression symptoms [7].

2. the power of relationships

in 2017, one of the world’s longest studies of adult life revealed that close relationships are what keeps people happy throughout their lives, as those with strong social support experienced less mental deterioration as they aged [8]. “Personal connection creates mental and emotional stimulation, which are automatic mood boosters”, says Dr. Waldinger, professor of psychiatry at the Harvard Medical School [9].

3. health vs wealth

“it is health that is real wealth and not pieces of gold and silver"- Gandhi [10]. Researchers at the Yale School of Medicine discovered that amongst 1.2 million Americans, those who exercised to promote their health were markedly happier than people who didn’t, regardless if they earned about $25,000 more a year [11]. “Money can help you buy most things in life, but it can’t buy your health” [12].

[1]University of Southampton (2016) Financial worries linked to mental health issues among university students. [2]Penn Today (2021) Money matters to happiness—perhaps more than previously thought. [3]Kahneman, D. and Deaton, A. (2010) High income improves evaluation of life but not emotional wellbeing. Proceedings of the National Academy of Sciences.[4]University of British Columbia (2008) Money Buys Happiness When You Spend On Others, Study Shows. ScienceDaily. [5]Park et al. (2017) A neural link between generosity and happiness. Nature Communications. [6]Alimujiang et al. (2019) Association Between Life Purpose and Mortality Among US Adults Older Than 50 Years. JAMA Network. [7]Blazek et al. (2014) Sense of Purpose in Life and Escape from Self as the Predictors of Quality of Life in Clinical Samples. Journal of Religion and Health. [8]Writer, L.M.H.S. (2017) Over nearly 80 years, Harvard study has been showing how to live a healthy and happy life. Harvard Gazette. [9]Solan, M. (2017) The secret to happiness? Here’s some advice from the longest-running study on happiness. Harvard Health Blog. [10]BrainyQuote (2021) Mahatma Gandhi Quotes. [11]Chekround et al. (2018) Association between physical exercise and mental health in 1·2 million individuals in the U.S.A. between 2011 and 2015: a cross-sectional study. The lancet. [12]Fayer, M. (2018) Health is More Important than Money. 

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