There is an optimal point about how much money is needed to make a person happy, and that amount varies around the world, according to research from Purdue University.
“That could be surprising, since what we see on television and what the advertisers tell us we need would indicate that there is no limit to the amount of money needed for happiness, but now we see that there are some thresholds,” said Andrew T. Jebb, the lead author and Ph.D. student in the Department of Psychological Sciences.
“It has been debated at what point the money no longer changes the level of well-being.” We discovered that the ideal income point is 95,000 dollars (almost 276 million pesos) for material well-being and 60,000 to 75,000 ($ 174 million to $ 218 million). ) for emotional well-being Again, this amount is per individual and probably higher for families. “
Emotional well-being corresponds to everyday emotions, such as feeling happy, excited or sad and angry. Material well-being, real satisfaction with life, is a general assessment of how one is considered and likely to be more influenced by higher goals and comparisons with others.
Substantial variation exists in regions of the world, and satiety occurs at higher thresholds in wealthier regions for life satisfaction, Jebb said. “This could be because evaluations tend to be more influenced by the standards with which people compare with other people.”
Jebb’s area of expertise is in industrial-organizational psychology. The main author of the article is Louis Tay, assistant professor of psychological sciences. The research is published in Nature Human Behavior.
The research is based on data from Gallup World Poll, which is a representative survey sample of more than 1.7 million people in 164 countries, and the estimates were averaged based on purchasing power and questions related to satisfaction and satisfaction. welfare of life. To inform this study, the amounts are provided in US dollars and the data is per person and year, not per family.
More income tend to be associated with lower well-being
The study also found that once the threshold was reached, additional increases in income tended to be associated with lower life satisfaction and a lower level of well-being. This may be because money is important to meet basic needs, shopping conveniences and, perhaps, even repayments of loans, but to a certain extent. Once the optimal point of needs has been reached, people can be driven by desires such as seeking more material gains and participating in social comparisons, which, ironically, could reduce well-being.
“At this moment they ask themselves, ‘In general, how am I?’ and ‘How do I compare myself to other people?’ “said Jebb. “The small decrease puts the welfare level closer to people who earn slightly lower incomes, perhaps because of the costs associated with higher incomes.These findings refer to a broader issue of money and happiness in all cultures. Part of what really makes us happy, and we’re learning more about the limits of money. “