by No breaking news, but a recent study (Ryan J. Dwyer, 2022, N=200) suggests that you can actually buy happiness for a relevant amount of money.
Participants were given $10,000 to spend over 3 months, and were asked to report their happiness level monthly. Those who received the money rated their level of happiness during those 3 months higher than those who did not (taking into account their current income). Participants from low-income countries (Brazil, Indonesia, and Kenya) reported a maximum of 3x increase. Participants from high-income countries (Australia, Canada, Great Britain, and the United States) reported smaller increases. Well, that’s not surprising. But it is surprising that this level of happiness did not decline after the end of those 3 months.
The important point is that those participants who received $10,000 and whose income already exceeded $123,000 a year, did not feel happier. So to speak, the reverse was indirectly confirmed as well. If the amount is not the most significant, there will be no happiness gained.
