They say that money can’t buy you happiness but according to an economics expert, it can make you happy.
According to Marie Claire, Nobel Prize winner Angus Deaton says that there is a level of pay considered the “happiness plateau” and that if you earn above this, it increases your satisfaction levels.
Said salary is $75,000 (which is approximately €68,000).
Once you go over this threshold, the “frequency and intensity of experiences of joy, stress, sadness, anger and affection that make one’s life pleasant or unpleasant” don’t increase.
If your salary is low, you are more likely to have more heightened emotions related to negative experiences.
Deaton explained: “Giving people more income beyond $75,000 is not going to do much for their daily mood… but it is going to make them feel they have a better life.
“As an economist I tend to think money is good for you, and am pleased to find some evidence for that.”
If this is true, just imagine what we’d be like if we won the lottery!
