Aug 24, 2009 (Mercola.com)—You already know that money doesn’t buy happiness. But more money doesn’t exactly make life a misery. The wealthy enjoy a sense of control over their lives. They feel secure in their jobs and less stressed about their futures.
But are they much happier than everyone else? Not really. Studies show that lottery winners, heiresses, and the 100 richest Americans are only slightly more satisfied than someone working in a generic office-park cubicle.
The ability to imagine is what sets humans apart from less-evolved species. But it can also be a problem. People assume that a sportier car, a bigger house, or a better-paying job will bring them joy.
But research shows that your memory is less like a collection of photographs than it is like a collection of impressionist paintings rendered by an artist who takes considerable license with his subject. People forget that their last new-car high deflated well before their first trip to the mechanic, and that their raise came with stressful late nights at the office.
In so many areas, people know when enough is enough. Yet the “pause” button often shorts out when it comes to money. The brief pick-me-up that accompanies a raise or windfall (think of it like a caffeine buzz) drives people to want more. But somehow happiness stays in the same place, or even slows down.
Most people need enough to cover the bills and have a bit of extra money left over. After that, each incremental move up the pay scale has less long-term emotional impact. A 20 percent raise won’t make you 20 percent happier. And, in fact, chasing that extra money might just make you miserable.
Sources:
MintLife October 24, 2008