This is true and we agree on this study.
Nice as it is, having a higher salary might not be the key to happiness. An even more important figure linked to life satisfaction is the number sitting in your checking account, according to a new study published in the journal Emotion.
In the study, researchers looked at data from 585 customers at a U.K. bank. That included survey information, like how stressed they were about their finances and how satisfied they were with their lives, along with the balances of their checking and savings accounts.
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
The amount of easily accessible cash people had predicted how satisfied they were with their lives—a link explained by how comfortable people felt about their finances. In fact, liquid wealth appeared to be even more important than income or debt status in predicting a person’s happiness.
“No matter how much the customers had or earned, no matter how much debt they had, having a buffer of easily accessible cash was associated with greater happiness,” says Peter Ruberton, the study’s lead author and a doctoral candidate in social personality psychology at the University of California, Riverside