We grew up hearing that money does not bring happiness, and it is something we have almost accepted as a universal truth. But how real is it, and who invented these words? Because, as you and I both know, money does not bring happiness but it does bring peace of mind. When you cannot make it to the end of the month, you are definitely not very happy.
Harvard is now refining this debate and has put a figure on the table that, according to them, allows us to live with a sense of “well-being,” calm, and emotional stability. They are not talking about luxury, yachts, or mansions. Those people are already crying in their Ferraris.
Money does not buy happiness… sure?
The researchers start from the idea that money does not guarantee complete happiness, but it does greatly reduce unhappiness. Having enough income to pay bills or deal with unexpected expenses brings peace of mind, obviously, and life feels very different.
Not a life of luxury
For this study, they chose to look at middle incomes, not high incomes. For some reason, they do not ask those people if they are sad about not making it to the end of the month. They concluded that peace of mind means not having to look at your bank account all the time. Seriously now, money does not bring happiness but calm. So they say it is not that money makes you happier, it just makes you less unhappy. Very clever.
The key figure
According to Harvard’s analysis, that turning point is around $5,300 a month. From there, many people reach a reasonable balance between income, quality of life, and emotional well-being.
Does that mean earning more is useless? Obviously not, good for you if you manage to earn that much. But they do confirm that the positive effect starts to diminish. Extra money adds comfort, yes, but it no longer transforms how you feel every day as much.
More money equals more happiness?
Some studies and media argue that the more you earn, the happier you are, even when talking about much higher figures. But the researchers say no. Money can increase comfort and pleasure, but it does not guarantee daily happiness and sometimes brings more pressure and more responsibilities.
The contrast
Of course, when we talk about places where average incomes do not reach $2,000 a month, that “satisfaction threshold” is adjusted to around $2,500.
For example, if we move to Europe, the average salary in Spain is around $2,800 for those who are lucky. But that figure is much lower than what Harvard suggests. That is why so many people feel that even working full time, they are always just barely getting by. It is not hard to understand, the numbers simply do not add up.
Measuring peace of mind
These studies do not measure happiness as constant joy. Nobody is happy all day. They measure the absence of financial anxiety, control, and the ability to live with what you have.
Money as a tool
Harvard believes that money is a tool that makes options easier, but it does not replace personal relationships. We cannot really check that because we do not have $15,000 coming into our account every month.
It does not buy happiness, but almost
Let us be honest. Money may not bring happiness, but who wants happiness when they know they can handle any unexpected situation? When they know that even if they have an accident, they will be able to pay for surgery, or when their child wants the latest PlayStation model, they can buy it without blinking?
Maybe money does not make you jump for joy, but it certainly does not leave you crying in a limousine.