Originally published July 17 2005
Money can make you a bit happier, but wanting it can make you unhappier
by Mike Adams, the Health Ranger, NaturalNews Editor
Most Americans think if they just had a little more money, they'd be happier, and, according to CNN Money's Jeanne Sahadi, more money does make American's slightly happier, but making money their number one goal makes them unhappier to begin with.
With the exception of adults making over $290,000, those who said financial success was important were less happy than those in their income groups who thought it wasn't important.
The lower a respondent's household income, the more negatively his or her happiness was affected by valuing financial success.
"If you're not making money, it's much better to be convinced it's not important," said Norbert Schwarz, a professor of psychology at the University of Michigan who coauthored the study.
The Economist's 2005 quality-of-life index, which covers 111 countries, links subjective life-satisfaction surveys to objective quality-of-life measures such as material well-being, family life, political stability and job security.
The research team reasoned that Ireland "successfully combines the most desirable elements of the new -- material well-being, low unemployment rates, political liberties -- with the preservation of certain ...
There's also a school of thought that says how much money you have in absolute terms isn't as important for happiness as how much you have compared to everyone else.
So getting more money may make you a little happier, but getting more money than others will make you a lot happier.
Not to be contrarian, but I'd prefer the $100,000 job either way.
And when I informally surveyed a group of people, the majority said that they also would prefer the $100,000 job, even if the salary discrepancy were known -- and yes, some even had MBAs.
Their reasons ranged from the practical (it's more money) to the philosophical (more money is better than power) to the strategic (I have a better chance of not being laid off if I'm not the highest paid; I'm more likely to get a raise; and it's a higher base from which to negotiate pay at my next job).
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