When it comes to happiness, people stand conflicted on the subject. For some, it’s love, because, well, of course. For others, it’s success, because who doesn’t want to have the title of “Most Successful” when they show up at their high school reunion? Then, for others, it’s money, because, duh. Who doesn’t think money and happiness go hand-in-hand? Well, the French don’t, but we’ll get to that shortly.
There’s no denying that removing the stress of bills can improve life, but having extra money to, well, simply enjoy life, can also make a person happier and life overall better. But is there a point where money no longer gives a person that sense of joy? One study says yes, and it’s not as much as you’d think.
Anyone who says money can’t buy happiness has never had to choose between buying food and paying bills. The fact is, financial insecurity decreases the quality of life. There’s no way around it.
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In news that’s completely unsurprising, a 2014 Pew Research Center report found that people from wealthier countries are the happiest. In places like the U.S., U.K., and Germany, the level of happiness and satisfaction was the highest, thanks to the economy. In contrast, the saddest people were those living in Tanzania, Kenya, and Egypt, respectively.
But, for whatever reason, two of the wealthiest countries, France and Japan, are just dead-set against cracking a smile. In Japan, a measly 43% were able to say they’re happy in their lives, while just barely half of the French could say the same. I guess this would explain those t-shirts you can find in Paris that read, “I love nothing. I’m Parisien.” Grumps. Wine and cheese are supposed to make people happy!
But moody populations aside, it makes sense that people in wealthier nations are happier. There is more money to be made, more opportunities, and more indulgences. People in wealthier nations also tend to be healthier, which is also linked to overall well-being.
Back in 2010researchers Daniel Kahneman and his Princeton colleague, Angus Deaton, concluded that happiness increased with earnings but peaked at $75,000. Pretty low considering what life costs nowadays, right? Well, this study was heralded for years until, in 2023, those same researchers decided to look at their findings again after a 2021 study seemed to dispute the initial $75K sweet spot.
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All the researchers teamed up to figure out what was really going on at that point. What they actually found was that the sweet spot of earnings was higher than $75K, but only for a select group of individuals. If you started off happy, your happiness would continue to grow with your earnings, and there was no cap. In layman’s terms, if you started off rich, getting richer made you happier and happier, with no end in sight.
If, however, you started off unhappy, your happiness increased with salary, but only until $100K. While that number isn’t exactly astronomical, it makes much more sense than $75K. But what this finding basically meant was that if you started off poor, there was a limit to how much money could make you happier.
Researchers explained, “For the least happy group, happiness rises with income until $100,000, then shows no further increase as income grows. For those in the middle range of emotional well-being, happiness increases linearly with income, and for the happiest group, the association actually accelerates above $100,000.”
Going back to the Pew Research Center report, the analysts cautioned that there was actually a limit to the amount of happiness that money can buy, citing that although Germany’s national income is higher than that of Malaysia, the overall life satisfaction of Germans is a mere 4% above Malaysians.
But let’s be real — it’s all about how you view the world as a whole. The survey of 47,643 people, in 43 countries, ages 18 and older, also found that levels of materialism come into play, too. A 66-year-old Vietnamese man said that money can’t secure happiness, while a businessman from Malaysia told the researchers, “Money can buy lots of happiness for me because I’m very materialistic.” Join the club, dude. But I digress.
As with all studies, this one provides food for thought; however, it is also quick to note that money isn’t the only factor in an individual’s happiness or a country’s overall happiness. Of course, a wealthier country is going to be happier than a poorer one, but that probably also has to do with access to clean water, food, medical care, and basic living conditions.
Pinpointing happiness solely on money is, perhaps, true for some, but what money allows in regards to humanity is the most important part of all. But that still doesn’t explain why the French are so mad. My guess? They’re faking their outrage so they can keep the secret of true joy to themselves.
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Amanda Chatel is an essayist and intimacy health writer for Yourtango, Shape Magazine, Hello Giggles, Glamour, and Harper’s Bazaar.
