The well-known adage "money doesn’t buy happiness" elicits a variety of perspectives. For many years, individuals have sought to link these two ideas through various means, ranging from memes and discussions under the stars to conversations at the dinner table. However, recent findings suggest that a different factor is at play.

According to a comprehensive study published in the Journal of Personality and Social Psychology, the notion of ‘feeling’ has been integrated into this discussion. The research examined the relationship between our emotional perceptions of money, our actual earnings, and the ways in which these elements influence our happiness.

Does money really make us happy?

The research conducted was extensive, involving over 7,600 participants from the United States and South Korea over several years. The evaluation focused on their income levels, personal satisfaction regarding finances, and overall happiness.

There is no inherent link suggesting that possessing substantial wealth guarantees happiness. Rather, it is the individual's perception that plays a crucial role. According to the findings, those who felt content with their earnings and financial circumstances tended to experience better mental well-being. They exhibited a balanced sense of happiness, better health, and emotional presence. Thus, it is not merely the amount of income that influences their happiness, but rather their perspective on their financial situation.

The way we perceive our circumstances significantly impacts our emotional state. Therefore, it can be argued that money has the potential to contribute to happiness, provided one is satisfied with their financial status. Ultimately, a positive mindset is essential in embracing the notion that money can indeed facilitate happiness. This idea is not unrealistic if one maintains self-belief and a positive outlook.

Future happiness

The above finding elaborated on the present's take on happiness. But it shows its true colours as, with time, the actual income, what you earn, does make a big impact.

So, in short, for staying in the present, simply feeling good about your money can make you happy. But in the long run, when you start minting more, you have a better chance of happiness in the long run.

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