They say Money can’t buy happiness, or so the saying goes. But it may not be true at all.
Ed Diener, a University of Illinois psychologist, said that the connection was complex but that very rich people rated substantially higher in satisfaction with life than very poor people did, even within wealthy nations.
“There is overwhelming evidence that money buys happiness” said Andrew Oswald, an economist with the University of Warwick, in England. The debate, he said, is how strong the effect is.
In any case, researchers say money’s effect is small. It’s much better advice, if you’re looking for happiness in life, to try to find the right husband or wife rather than trying to double your salary, Professor Oswald said.