by Jennie S. Bev
An old adage goes, “Money doesn’t buy happiness.” Well, this has proven to be a fallacy. Economists Angus Deaton and Daniel Kahneman found in a survey of 450,000 Americans in 2008 and 2009 for the Gallup-Healthways Well-Being Index that those who earned at least US$75,000 annually had a better sense of well-being than those who earned less.
The figure proved to be a threshold, over which unhappiness stemming from a lack of money started to diminish.
However, the relationship between money and happiness was not linear, according to the survey. Those who earned $150,000 annually were not twice as happy as those who earned $75,000.