Price Of Happiness Hit By Inflation: You Can Buy It Now, But It'll Cost You

Inflation seems to be affecting everything these days, even happiness.

According to a recent study, the price of happiness has gone up significantly, leaving many people struggling to afford it.

A daily survey of 1,000 U.S. residents, conducted by the Gallup Organization from 2008 to 2009, shows that people need to earn at least $100,000 a year to be truly happy in today's inflationary world. This is a significant increase from the $75,000 figure that was previously believed to be the threshold for happiness.

Read Also: Barbara Corcoran's Million-Dollar Day - A Lesson In Risk And Reward

Economists Daniel Kahneman and Angus Deaton, after analyzing the data from the Gallup-Healthways Well-Being Index, found that people who earned more than $100,000 were generally happier than those who earned less.

The study didn't just focus on income, though. Factors such as work-life balance, good relationships with family and friends, and engaging in meaningful activities were also crucial for happiness.

The research involved a large number of respondents, with over 450,000 responses analyzed. The researchers engaged in an adversarial collaboration, with the goal of reconciling seemingly contradictory results from different studies on emotional well-being and income.

While the findings may be discouraging for some, the study also provides hope. It suggests that happiness is still within reach, even if you don't earn a six-figure salary.

Next: Be Greedy When Others Are Fearful - 5 Warren Buffett Quotes To Inspire You Now

Image by Oleksandr Pidvalnyi from Pixabay