Image from Nanagyei

Throughout history, psychologists have sought to find the equation for happiness. Hundreds of books have been published on the subject, telling you where to find happiness, how to maintain it, how to explain it biologically – you name it, there’s a book about it. But can we really pinpoint exactly how to be happy? Is there really a formula for something so personal?

Money has been repeatedly connected with happiness. On the most basic level, the things that contribute to short-term happiness – food, warmth, sleep and hygiene for example – can all be solved with access to money. In the long-term, however, are the two states – wealth and happiness – truly inter-dependent? There has certainly been an extensive amount of research on the subject.

Firstly, studies have shown that just over 50% of our happiness is based on external factors. The other 50% is actually under our own control and is in our power to change by simply staying positive. Of the half that we do not control, 15% is based on genetics. This means that only 35% of our happiness comes from our surrounding environment, which is where the wealth factor belongs. For example, if you’re out on a date, and it’s all been going perfectly to plan but then your credit card gets rejected, this should only affect 35% of your happiness.

Statistics also show that, yes, money is important to happiness but only up to a certain level. Earning enough money to live comfortably and maintain a certain lifestyle is all that most people need to be happy. Beyond this, happiness does not increase much with income. Giving money away to others causes great amounts of happiness but other than that, extremely wealthy people and reasonably wealthy people are often equally happy.

Sudden windfalls of money – winning the lottery for example – have also been shown to cause only temporary happiness. Those who have won money and those who haven’t won money exhibit the same overall happiness levels. It is believed that after the momentary happiness and thrill of the win, many soon return to their prior state.

Most interestingly of all, recent research has explored the correlation between dating, happiness and income levels. It showed that married couples were often happier and also earned a higher income. The study went on to reveal that happiness is not caused by earning more money, but happiness does result in success at work and therefore an increased income level. Happy people logically work better with others: they are more tolerant and better at rational compromising. They will also be good at forming successful relationships, which is important in the office for a better overall job performance. If other areas of your life are going according to plan, it also follows that you will have a renewed focus in your working life.

So, although money does have a certain influence, presenting it as the ultimate solution to happiness is somewhat misleading. Repeated studies have shown that it just isn’t as simple as that: our own ability to influence personal happiness, our desire to simply be comfortably wealthy, our reaction to lottery wins – all of these factors complicate the question. Perhaps it is true that the key to happiness is to find love and nurture relationships, whether romantic, filial or social.