Not ONLY MONEY makes a INDIVIDUAL happy ----Study

There is an optimal point to how much money it takes to make an individual happy, and that amount varies worldwide, according to a study.

Researchers also found that once the threshold was reached, further increases in income tended to be associated with reduced life satisfaction and a lower level of well-being.

"That might be surprising as what we see on TV and what advertisers tell us we need would indicate that there is no ceiling when it comes to how much money is needed for happiness, but we now see there are some thresholds," said Andrew T Jebb from Purdue University in the US.

"It has been debated at what point does money no longer change your level of well-being," said Jebb, lead author of the study published in the journal Nature Human Behaviour.

"We found that the ideal income point is USD 95,000 for life evaluation and USD 60,000 to USD 75,000 for emotional well-being. Again, this amount is for individuals and would likely be higher for families," he said.

Emotional well-being, or feelings, is about one's day-to-day emotions, such as feeling happy, excited, or sad and angry.

Life evaluation, really life satisfaction, is an overall assessment of how one is doing and is likely more influenced by higher goals and comparisons to others, researchers said.

"And, there was substantial variation across world regions, with satiation occurring later in wealthier regions for life satisfaction," Jebb said.

"This could be because evaluations tend to be more influenced by the standards by which individuals compare themselves to other people," he said.

The research is based on data from the Gallup World Poll, a representative survey sample of more than 1.7 million individuals from 164 countries, and the estimates were averaged based on purchasing power and questions relating to life satisfaction and well-being.

This may be because money is important for meeting basic needs, purchasing conveniences, and maybe even loan repayments, but to a point.

After the optimal point of needs is met, people may be driven by desires such as pursuing more material gains and engaging in social comparisons, which could, ironically, lower well-being.

There is a strong correlation between wealth and happiness, 

This Fulfillment Curve has four sections:

• Survival. In this part of the curve, a little money brings a large gain in happiness. If you have nothing, buying things really does contribute to your well-being. You’re much happier when your basic needs—food, clothing, and shelter—are provided for than when they’re not.
• Comforts. After the basics are taken care of, you begin to spend on comforts: a chair to sit in, a pillow to sleep on, a second pair of pants. These purchases, too, bring increased fulfillment. They make you happy, but not as happy as the items that satisfied your survival needs. This part of the curve is still positive, but not as steep as the first section.
• Luxuries. Eventually your spending extends from comforts to outright luxuries. You move from a small apartment to a home in the suburbs, say, and you have an entire wardrobe of clothing. You drink hot chocolate on winter evenings, sit on a new sofa, and have a library of DVDs. These things are more than comforts—they’re luxuries, and they make you happy. They push you to the peak of the Fulfillment Curve.
• Overconsumption. Beyond the peak, Stuff starts to take control of your life. Buying a sofa made you happy, so you buy recliners to match. Your DVD collection grows from 20 titles to 200, and you drink expensive hot chocolate made from Peruvian cocoa beans. Soon your house is so full of Stuff that you have to buy a bigger home—and rent a storage unit. But none of this makes you any happier. In fact, all of your things become a burden. Rather than adding to your fulfillment, buying new Stuff actually detracts from it.

The sweet spot on the Fulfillment Curve is in the Luxuries section, where money gives you the most happiness: You’ve provided for your survival needs, you have some creature comforts, and you even have a few luxuries. Life is grand. Your spending and your happiness are perfectly balanced. You have Enough