A cool $161,000 makes us happy
A new global survey finds that people do need quite a bit of cash to feel content.
A new study by Skandia International asked people in 13 countries about what level of income they would need to feel "really happy." The responses varied by country, but averaged out at about 15 times the global individual income average of $10,700. Yeah, I'd say $161,000 would be enough to put a smile on most faces.
Skandia skipped the U.S. in its survey, so we don't know what level of money brings happiness here. But of the countries surveyed, those hard-working, stoic Germans had the most modest needs, saying that only $85,781 would be necessary. Everyone else zipped up past the $100,000 mark, with France coming in at $114,344 and the United Kingdom at $133,010.
Residents of Hong Kong, Singapore and Dubai had the highest totals, with Dubai coming in first with an average of $276,150 for pure happiness.
And money does in fact equate to happiness for most respondents. About 80% said that money would make them happy, the researchers said. That percentage rose to 93% percent in Brazil, while Europeans didn't see as much correlation between money and happiness. In Germany, only 68% of people equated money with happiness.
The survey also asked about debt levels, and -- perhaps not coincidentally -- the countries that required the most money for happiness also had some of the highest average debts. Residents of Dubai said they would need about $19,000 to pay off all their debts, excluding mortgages. Germans only needed about $5,800 to pay their debts -- the lowest of all countries surveyed.
More from Money Now
- Buffett bashes investing 'casino game'
The more you make the more taxes you have to pay to obama. so making more is not worth it.
@Colorado Bike Chick and V_L, the article is not referring to a lump sum of money but rather an average salary.
Money can not buy happiness, but it's more comfortable to cry in a Corvette than on a bicycle.
Do what you love. You may make less money, but you will be more satisfied
with your life and may even be able to get off of your blood pressure meds.
When hubby and I were dating, we would ask each other hypothetical questions, just for fun. One question has always stuck out though.
I once asked him, "If you could be as rich as you want, how rich would you be?"
Both of us came to the same conclusion. Rich enough so that if I want to go out to dinner or go to the movies, I don't have to think about it. I don't have to rework my budget for the month or worry about all the bills getting paid.
Ultimately, my goal is to be rich enough to be a stay-at-home mom. But I don't need a McMansion and a Hummer and all that stuff to be happy. Just financially stable enough to stay home, raise my kids, and make our home a warm welcoming place. Honestly, we'd only need about $50,000-$60,000/year to make that happen.
They live in giant houses, drive hot cars, dress up in all the latest fashion but are always broke.
Hahaha. Man, I make 54K a year, own a small house, drive a new Tacoma, don't use credit cards. And! have $1000 bucks a month floating around in my wallet. Sure I only have two bedrooms and one bath but it sure is cozy and warm.
I guess I missed the, Make 1ooK spend 150K lifestyle.
Oh yeah, And I'm EXTREMELY Happy with my life.
Copyright © 2014 Microsoft. All rights reserved.
Despite the mixed finish, the key indices traded higher across the board at the start of the session after the advance reading of second quarter GDP surpassed estimates (4.0% versus Briefing.com ... More
More Market News
MUST-SEE ON MSN
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'