Does Money Make You Happy?

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True, money does buy independence, and independence is one aspect of happiness. But when you've covered your basic financial necessities, does more money make you happy? Recent studies by economists shows that it doesn't. Warwick University's Andrew Oswald explains, "Once a country has filled its larders, there is no point in that nation becoming richer." So what does make you happy? One includes self-employment, if you have the resources to do it. Says Oswald to Forbes Magazine, ""Everything associated with self-employment -- independence, autonomy -- is also associated with being happy." Other keys to happiness include building relationships -- both social and professional ones. Says Tim Hartford describing one of Nobel laureate Danny Kahneman's study, "Spending time with your friends is one of the most enjoyable things you can do."

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Posted on March 26

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