Does money buy you happiness? Before you read the evidence I’ve uncovered, what is your gut reaction to this question? An optimistic answer is: “No, of course not,” which expresses the hope that how happy we feel is affected by other factors such as relationships, hobbies and experiences.
If the answer is “yes”, what does that mean for people who are struggling financially, especially for those who have no obvious pathway to securing more wealth? Is there another way for them to achieve happiness, or are they inevitably headed for hardship and sadness?
Given the current cost of living crisis, it’s a question that is relevant to us all, and it’s also something that’s been on the minds of economists, psychologists and the general public for decades.
My guess is
