What price happiness?
Poll: What price happiness?
Total Members Polled: 317
Discussion
The thread title would benefit from a bit more detail so here goes.
"It was an attempt to gauge the nation's 'emotional' wellbeing, to move away from measuring wealth and find out what truly makes us happy. But now David Cameron's much-ridiculed happiness survey has found that the key to our happiness is, in fact, money. The £2 million state research project yesterday revealed that, somewhat unsurprisingly, those who have more money are a lot happier with their lives."
The ONS inquiry into well-being and personal finance was based on a survey covering 1,100 homes a month. It asks people to rate their satisfaction with life, how worthwhile they think their lives are, and their levels of happiness and anxiety on the previous day, all on a scale out of 10. It found that 'those in the lowest two personal income groups had the lowest mean scores for life satisfaction, worthwhile and happy yesterday. These income groups also recorded the highest mean scores for anxious yesterday.
So says the online Daily Mail today, commenting on the result of CMD's survey (so it's not the DM's fault this time) which - as described above - was meant to look away from vulgar wealth and reveal what makes us truly happy. As it happens, the answer was money after all.
Assuming no other change will hit the spot, how much cash at bank would it take to boost that elusive happy feeling? Not annual income, cash. Out of interest, results from another survey looking at income found that the happy factor came in at £50k pa (Guardian) while a Skandia survey covered in a FT article claimed that cash at bank happiness starts around £20k. The options available represent the space available as much as anything else, and I wanted to make it straightforward by avoiding intervals involving lots of 9s at one end.
As the suggested assumption implies, the aim isn't to debate what else makes us happy, we all know about health and friends and so on. This 2012 PH survey is intended to be a free and complementary follow-on from CMD's expensive research.
"It was an attempt to gauge the nation's 'emotional' wellbeing, to move away from measuring wealth and find out what truly makes us happy. But now David Cameron's much-ridiculed happiness survey has found that the key to our happiness is, in fact, money. The £2 million state research project yesterday revealed that, somewhat unsurprisingly, those who have more money are a lot happier with their lives."
The ONS inquiry into well-being and personal finance was based on a survey covering 1,100 homes a month. It asks people to rate their satisfaction with life, how worthwhile they think their lives are, and their levels of happiness and anxiety on the previous day, all on a scale out of 10. It found that 'those in the lowest two personal income groups had the lowest mean scores for life satisfaction, worthwhile and happy yesterday. These income groups also recorded the highest mean scores for anxious yesterday.
So says the online Daily Mail today, commenting on the result of CMD's survey (so it's not the DM's fault this time) which - as described above - was meant to look away from vulgar wealth and reveal what makes us truly happy. As it happens, the answer was money after all.
Assuming no other change will hit the spot, how much cash at bank would it take to boost that elusive happy feeling? Not annual income, cash. Out of interest, results from another survey looking at income found that the happy factor came in at £50k pa (Guardian) while a Skandia survey covered in a FT article claimed that cash at bank happiness starts around £20k. The options available represent the space available as much as anything else, and I wanted to make it straightforward by avoiding intervals involving lots of 9s at one end.
As the suggested assumption implies, the aim isn't to debate what else makes us happy, we all know about health and friends and so on. This 2012 PH survey is intended to be a free and complementary follow-on from CMD's expensive research.
Theres probably a formula somewhere in some geeks mind something along the line of basic living costs plus £10,000 for example if I could live, cover all my bills, food etc... and had £10,000 left in the bank at the end of the year that would make me happy but then £100,000 left at the end of the year would make me more happy 
£0.5m will do fine.
Not enough that I'd never have to work, but enough that I could work part time until retirement, and retire 2/3 years earlier than planned. Don't particularly like my job, but I'd have to do something 2 or 3 days a week. Also, not so much that I'd have the stress of managing it and have to spend time looking after my investments etc. Couldn't cope with £10m.
Not enough that I'd never have to work, but enough that I could work part time until retirement, and retire 2/3 years earlier than planned. Don't particularly like my job, but I'd have to do something 2 or 3 days a week. Also, not so much that I'd have the stress of managing it and have to spend time looking after my investments etc. Couldn't cope with £10m.
CMD In having no money, or not enough to make ends meet will make even the most positive person unhappy - shocker.
But that said you get the impression today that most people are sitting about grumpy as f
k because they're not living at that next perceived level, I meet people lots of different stages of life and incomes and the happiest ones are always the ones who are happy with their lot in life - but for the most part even the ones who, to me, are pretty damn wealthy are so busy moaning about not having so thing or other that's just out of reach to enjoy what they have got, or heaven forbid take some bloody joy out of something that didn't come with a barcode on it.
But that said you get the impression today that most people are sitting about grumpy as f
k because they're not living at that next perceived level, I meet people lots of different stages of life and incomes and the happiest ones are always the ones who are happy with their lot in life - but for the most part even the ones who, to me, are pretty damn wealthy are so busy moaning about not having so thing or other that's just out of reach to enjoy what they have got, or heaven forbid take some bloody joy out of something that didn't come with a barcode on it. turbobloke said:
It found that 'those in the lowest two personal income groups had the lowest mean scores for life satisfaction, worthwhile and happy yesterday. These income groups also recorded the highest mean scores for anxious yesterday.
So, it's not so much that money makes you happy, but poverty makes you unhappy. Also, that's meaningless without knowing what the two lowest income groups earn.I thought it was roughly:
So 'they' have decades of data on this now from countries all round the world. Asking if people are 'happy'.
It seems as people move from $0-$15,000 a year income they get happier. After that it kinda flatlines.
But I imagine at this point in time, in the UK, for some people, happiness will only be achieved with an income of £1,000,000+ a year (that they don't have to work for).
Money/income buys one choice and time. Not happiness.
(hmmm, so do I trade the MY11 FFRR in for the new MY13 FFRR? #firstworldproblems).
Edit: ok yeah - sorry. Cash in bank, not income. Hmmm, despite being MILES off £50k in the bank I still think most people imagine it is a paltry sum and would figure they'd only be happy with more.
So 'they' have decades of data on this now from countries all round the world. Asking if people are 'happy'.
It seems as people move from $0-$15,000 a year income they get happier. After that it kinda flatlines.
But I imagine at this point in time, in the UK, for some people, happiness will only be achieved with an income of £1,000,000+ a year (that they don't have to work for).
Money/income buys one choice and time. Not happiness.
(hmmm, so do I trade the MY11 FFRR in for the new MY13 FFRR? #firstworldproblems).
Edit: ok yeah - sorry. Cash in bank, not income. Hmmm, despite being MILES off £50k in the bank I still think most people imagine it is a paltry sum and would figure they'd only be happy with more.
For me 5mil would do it. For a slightly bigger house with out building to work from. And semi retire. Happiness to me would be not to have to worry about paying rent for my work place and a mortgage. Never worry about paying tax to the taxman again. (cause in would have the money to do so ).Never have to worry about paying high fuel bills including petrol.
Studies suggest that the absolute figure is not as relevant as the figure relative to your peers.
People would rather have a £50k job if it was the highest in their office, than a £60k job if that was the lowest in their office, or a £400k house on a street of £350k houses rather than a £500k house on a street of £1m houses.
It is more complex than just 'how much' - though for the record £300k pa would be a good start.
People would rather have a £50k job if it was the highest in their office, than a £60k job if that was the lowest in their office, or a £400k house on a street of £350k houses rather than a £500k house on a street of £1m houses.
It is more complex than just 'how much' - though for the record £300k pa would be a good start.
johnfm said:
Studies suggest that the absolute figure is not as relevant as the figure relative to your peers.
People would rather have a £50k job if it was the highest in their office, than a £60k job if that was the lowest in their office, or a £400k house on a street of £350k houses rather than a £500k house on a street of £1m houses.
No problem! Each respondent can use these criteria for their own situation if they wish. Also as requested in the OP, ideally the responses are in terms of cash at bank.People would rather have a £50k job if it was the highest in their office, than a £60k job if that was the lowest in their office, or a £400k house on a street of £350k houses rather than a £500k house on a street of £1m houses.
I don't measure happiness through "things". I measure it through having time to do what I enjoy, so for me it's less about money and more about balance in my life. I guess I'm fortunate that I enjoy cheap activities (walking/running in the great outdoors, going to the playground with my daughter etc).
ewenm said:
I don't measure happiness through "things". I measure it through having time to do what I enjoy, so for me it's less about money and more about balance in my life. I guess I'm fortunate that I enjoy cheap activities (walking/running in the great outdoors, going to the playground with my daughter etc).
I guess you'll have to join me in the £0 section then. Although it's nice to have a bit of cash....Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff