Don't Indulge. Be Happy

The catch is that additional income doesn’t buy us any additional happiness on a typical day once we reach that comfortable standard. The magic number that defines this “comfortable standard” varies across individuals and countries, but in the United States, it seems to fall somewhere around $75,000. Using Gallup data collected from almost half a million Americans, researchers at Princeton found that higher household incomes were associated with better moods on a daily basis — but the beneficial effects of money tapered off entirely after the $75,000 mark.
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Yes, and it’s not even close. When we follow up with people who receive cash from us, those whom we told to spend on others report greater happiness than those told to spend on themselves. And in countries from Canada to India to South Africa, we find that people are happier when they spend money on others rather than on themselves.

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To be clear, having more goldfish (or more gold) doesn’t decrease our happiness — those first few crackers may provide a genuine burst of delight. But rather than focusing on how much we’ve got in our bowl, we should think more carefully about what we do with what we’ve got — which might mean indulging less, and may even mean giving others the opportunity to indulge instead.

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