Money cannot buy you happiness — here’s why

Money’s ability to buy happiness has long been validated by people but it might not be case

A person holding dollar bills. — AFP/File

The question of whether having money truly makes you happy has been strongly debated for many years.

Scientists now say they’ve settled the argument, which is good news provided your bank account isn’t blowing up.

In a recent study, researchers polled over 3,000 members of local and Indigenous communities worldwide; 36% of them did not have a source of income.

According to the questionnaires, many of these folks had high levels of life satisfaction even though they had very little money.

“The strong correlation frequently observed between income and life satisfaction is not universal and proves that wealth – as generated by industrialised economies – is not fundamentally required for humans to lead happy lives,” said Victoria Reyes-Garcia, senior author of the study.

Up until now, economic expansion has been generally seen as a surefire strategy to improve the well-being of citizens in low-income nations.

Recent international polls have actually provided support for this tactic, demonstrating that individuals in affluent nations generally report higher levels of life satisfaction than those in low-income nations.

In their latest investigation, the scholars aimed to question the universality of this association, according to Daily Mail.

The researchers polled 2,966 members of local communities and Indigenous people worldwide regarding their level of income and happiness with life.

According to the findings, the average life satisfaction score was 6.8 on a 0–10 scale.

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