Sunday, May 04, 2008

Yahoo! Personal Finance: Mo Money, Mo Problems

"Recently, Betsey Stevenson and Justin Wolfers, two economists at the University of Pennsylvania, reexamined the data, and suggest that economic growth does indeed correlate with happiness, according to a New York Times report. They found that people in countries with higher incomes report higher life satisfaction.
National economic growth and happiness is one thing, personal wealth and happiness is something else entirely. So amid this debate, I think it's worth re-examining what studies say about money and individual well-being. Here are my conclusions:"

1. Money buys moments of pleasure -- but they don't last long.
2. We constantly want more because we're bad at predicting what will make us happy.
3. Money might buy interesting experiences, but researchers say cheap thrills create happiness.
4. People chase money because they think it's something else.
Feel Blessed, Not Happy

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