Money can buy happiness for households earning up to $123,000, study suggests

In an experiment, 200 people received $10,000 to spend over three months. They recorded how satisfied they were with their lives and how often they felt happy.

A recent experiment suggests that money can indeed buy happiness — at least for six months, among households making up to $123,000 a year.

A study published Monday in the journal PNAS looked at the effects of giving 200 people a one-time sum of $10,000.

The money, which came from two anonymous wealthy donors, was distributed on PayPal through a partnership with the organization TED.

Participants who got the money were required to spend it all within three months. They recorded how happy they felt on a monthly basis, as did a control group of 100 people who did not get any money. The researchers measured happiness by having people rank how satisfied they were with their lives on a scale of 1 to 7 and how frequently they experienced positive feelings, like happiness, and negative feelings, such as sadness, on a scale of 1 to 5.

The group that got $10,000 reported higher levels of happiness than those who did not after their three months of spending. Then, after three more months had passed, the recipients still reported levels of happiness higher than when the experiment started.

https://www.nbcnews.com/health/health-news/can-money-buy-happiness-study-rcna56281


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