Budget Snob

The Money and Happiness Relationship

by

I have an unexpected fascination with money and happiness. Unexpected because I didn’t realize how far my quest to learn about the subject would take me. I’ve written about it before here, here, and here.

A recent Bucks Blog article by Carl Richards resumes my fascination with money and if/how it impacts our overall happiness.

Mr. Richards cites a recent study by Princeton University quoted in Time magazine.

According to the study,

people reported an increase in happiness as their incomes rose to $75,000 a year. Then, the impact of rising income on happiness levels off.

What’s odd about this statement is that it pegs happiness at a specific number—75K per year.… Read the rest

I Wanna Retire Rich

by

When someone says “rich”, what number hits your mind? And by rich I mean having enough money not to have to work unless you choose to do so, presumably because you actually love what you’re doing. I’ve always thought one million as a lot of us do. But now that doesn’t seem quite so, what’s the word…lasting?

CNNMoney.com asked the question, “how rich is rich?” and came up with some very interesting answers.

First, rich must be defined. What do we really mean when rich comes out of our mouths?

Wealth is a subjective concept, but one thing is universal in most definitions: being able to live a comfortable life without having to work.

… Read the rest

Can Money Buy Happiness?

by

We’re supposed to say no but, according to a recent Gallup World survey, most people think money can buy happiness:

“Pulling in the big bucks makes people more likely to say they are happy with their lives overall—whether they are young or old, male or female, or living in cities or remote villages, the survey of more than 136,000 people in 132 countries found.”

But this may have more to do with our perception of how we think people with more money that us should feel and act:

“…people may initially define their happiness by income because they are comparing themselves to the ubiquitous Joneses…But here’s something to consider: Many of the people you envy for their outward appearance of wealth are probably just as jammed up with debt as you are – or a paycheck away from being broke.”

… Read the rest

How Optimistic are You?

by

That question was posted on the BankRate Wealth Blog on Friday. Here are a few highlights according to a poll  1,002 Americans:

65 percent of Americans are more concerned about their finances today than they were at the beginning of the financial crisis two years ago.

37 percent expect to see their personal finances improve in the next six months, versus less than half (46 percent) who expect to hold onto what they currently have and 16 percent who expect to lose money.

80 percent of Americans say that Congress and regulators have not done enough “to deal with the financial market problems and their impact on American investors.”

… Read the rest

Happiness and Money

by

I’ve long known that our attitude towards money reveals a lot about who we really are. I coined a motto a few years ago about money and people. It goes something sort of like, “otherwise normal people do very “un”normal things when money is involved.”

I had just been through a bad business partnership in which both parties (yes, me too) made some very unwise decisions. Decisions which not only cost me dollar-wise but emotionally as well.

I’m not surprised, then, when I ran across this article from Drewberry Mortgage Insurance about the latest research which indicates, all things equal, better financial control equals greater happiness.… Read the rest