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Madrid – This is not a specifically Spanish question, but how much money do you need to make to be happy? Many people think that having lots of money automatically makes you happy. This may be true in many cases, but there are plenty of examples where it is not. So the question is, how much money do you need to make to be happy?
Two Oxford University professors and Nobel laureates in economics have drawn on one’s conclusions. Research They hope to provide an answer to that question. The good news is that you don’t have to be a millionaire to be happy…but you do need to have a high salary (on paper anyway) to be happy.
Despite what many people say, a good financial situation will definitely help you to be happy. Many studies are available. For example, one study shows that having enough money to cover your expenses is enough to be happy. Other studies show that you need to earn some money to be happy.
However, Nobel laureates in economics and Oxford University professors Daniel Kahneman and Angus Deaton have found an answer: the ideal salary to achieve happiness is $100,000 a year. That is approximately 8333 euros per month. According to data from the tax authorities, that salary reached only 0.57% of Spanish residents.
Another study, published earlier and conducted at Princeton University in the US, found that a salary approaching happiness was about 75,000 euros per year, which was equivalent to a salary of 60,000 euros per year at the time the study was published in 2010. Only 4.19% of Spanish residents reach that salary, according to data from the tax office.
With these two statistics in mind, we can conclude that the inhabitants of Spain are happy. We wrote recently Here The average annual salary in Spain is 28,301 euros/gross, while half of Spanish residents have an annual salary of 21,347 euros/gross or less. It won’t come close to 75,000 or 100,000 euros.
The latest Creditia barometer (September 2021) on life, money and happiness shows that 20% of Spanish residents say they need more money than they are happy. 53% admit sleep problems are due to financial problems. 90% confirm that money brings peace of mind, but money is not a priority in their lives.
In addition to measuring happiness based on money and financial status, you can also look at other aspects such as good health, strong family relationships, good social relationships, and emotional well-being. It is what you consider most important in life.
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