Money does indeed buy happiness, and it increases with a bigger paycheque more than economists previously believed, a recent analysis has found.
This is the best summary I could come up with:
A paper Kahneman co-authored with Matthew Killingsworth and Barbara Mellers in 2023 concluded that the 2010 research had overstated the plateau effect because it used an unreliable method of measuring happiness from a Gallup survey, which asked study subjects to recall if they smiled the previous day.
“Income might have this protective effect against experiencing certain negative emotions, but it doesn’t necessarily bring us joy on a day-to-day basis,” he said.
Back in 2017, Jessie Golem, a photographer and videographer from Hamilton, was working four precarious jobs, including one for a volunteer organization that she hoped would open some doors.
When Golem was enrolled in Ontario’s basic income pilot program, she was able to focus on her better-paying work as a freelance photographer, knowing her rent would be covered regardless of whether her invoices had been paid promptly.
She said it was satisfying to see her efforts on the business “turning into real-world money,” and it helped that she was no longer in a constant state of worry about what she’d do if the car or computer she uses for work broke down.
Eventually, Hu was part of a successful startup that significantly improved his circumstances and launched his lucrative career in software engineering.
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money can’t buy happiness, but misery is priceless…
Money doesn’t buy happiness but poverty sure buys unhappiness.
Duh, I’d rather be miserable with money than miserable with no money.
Money doesnt buy happiness.
Money buys medical care, that leads to happiness.
It buys good food, which leads to happiness.
it buys shelter and transportation, that leads to happiness.
Having money removes one of the biggest, most miserable stressors in the vast majority of peoples lives… Which leads to more happiness.
It offers freedom to splurge and do something for yourself, which improves your happiness.
Money cant buy happiness, but money can buy a fuckload of the things you need to give you happiness.
Exactly.
I’m well off enough that I don’t have to worry about anything breaking. A new bike, washing machine, even entire kitchen would of course be a nuisance, but not bother me financially.
I also saved enough and live frugal enough that I could easily live years without any income.
That gives me so much more peace of mind. I don’t have to worry about getting fired, I don’t have to worry about a stolen bike, etc.
A good friend of mine has a good degree, but in a much less comfortable field. She’s constantly worried that she might be let go, since she’s not earning that much, has to pay back loans and lives in an expensive city. And even she is still privileged, because at least she’s not a single mom without formal qualifications.
Money cant buy happiness, but money can buy a fuckload of the things you need to give you happiness.
There’s a small bit of truth in that saying so it makes more sense to phrase it from the opposite perspective: “Money cant buy happiness, but money can fix a fuckload of the things that cause unhappiness.”
Medical care doesn’t lead to happiness, but lack of medical care surely causes unhappiness
Having money means you don’t have to be a complete wage slave. When you’re not afraid of getting fired, when you have means to get by if you’re out of a job, etc. you don’t have to submit to abusive bosses, and you never feel like you’re helpless and can’t leave the place you work.
With enough money, you may not need to work at all.
In a capitalist society, money buys a way out of the always looming menace of the reserve army of labour. Maybe not completely, unless you’re dirty rich, but enough to remove helpless serfdom and slave-like conditions from one’s life.
