It’s Not About the Money…
Getting more money does not make most people happier, a new study concludes. However, losing money does make people less happy. Losses matter much more, though, for people with a certain personality type…What really matters is when income is lost and this is only important for people who are highly conscientious.”
No matter what people’s personality, increases in income did not increase their satisfaction with life, the scientists found. People did get less satisfied with life, however, when they lost money.
“Continually increasing our income is not an important factor for achieving greater happiness and well-being for most people living in economically developed countries.
Instead, we should aim for financial stability to achieve greater happiness, while protecting those individuals who experience negative income shocks.