Money can’t buy love. This is such a basic tenet of modern belief systems that people write songs about it. Now, a group of scientists is challenging that notion, turning what we thought we knew upside down. Money can buy you happiness.
My dad once told me that it’s hard to have a happy marriage if you’re struggling to pay for car repairs. He even went so far as to say that marriage and love are two separate things. He didn’t exactly say that love is a line-item in the accounting system of life but he did teach me a valuable lesson: money does make a difference in your day-to-day stress levels which, of course, affect your relationships.
There are now two studies, done ten years apart, to support my Papa’s folk wisdom. The first was conducted in 2008 and 2009 by Princeton University and declared the specific proclamation that $75,000 was the ideal salary if you want to be happy. Anything lower than that, and people end up feeling unable to cope with their problems, which leads to a decrease in happiness.
That means things like asthma or divorce are just that much more difficult, as money buys convenience. And having money — well, that takes the sting out of things. The other study was released in 2018 by Purdue University and finds pretty much the same thing. They say emotional well-being starts at $75,000. The only difference now is that it takes $95,000 to achieve positive ‘life evaluation’. Inflation perhaps?
Please read the fine print: Before you start in on plans to reach Nirvana through ever-increasing paychecks, keep in mind that there are diminishing returns on this formula. The Purdue study found that happiness didn’t increase when salaries went over $95,000. As with everything in life, there is a threshold — even to living happily ever after.
