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What Does it Take to be Happy?: A GallupWorld Poll
More money is the obvious answer to the title of this blog, right??? Many of the people who are members here on 5k5k.org or who stumble across this site from referring websites or keywords in blog posts are trying to improve their lives financially by either getting out of debt, or becoming more financially secure through increased savings and investing. So, if someone asked you what would make you happy, more money would seem to be the solution to most of our problems.
I recently read a Gallup World Poll article that surveyed individuals from all over the world, trying to determine what circumstances in life are essential for satisfaction in life. The focus of the "satisfaction study" didn't center on income, rather a range of topics beginning with income, then moving to life expectancy, age as a determinant for satisfaction, and the level of health care the survey respondent's home country was able to provide. I won't bore you with the technical data of the study (if you want to look at the information in more detail just follow the link I provided) I tried to find the key points of the survey to see what people all over the world are saying allows them to be more satisfied with life and how money affects overall life satisfaction.
The article begins by mentioning that the happiness, of a country does not increase over long periods of time, in spite of large increases in per capita income. The third paragraph in this study states these findings, "It is therefore possible that, over the long run, increases in income will generate no increase in life satisfaction." The study went on to report, "In work, income growth provides only a temporary boost to life satisfaction." In fact some studies have found that more income improves happiness only until basic needs are met.
If these facts are true based on a world wide survey, why does everyone seem so obsessed with the notion of money=happiness and satisfaction?
The survey did discuss findings indicating high income countries are happier than low income countries (most likely due to longer life expectancy and better standards of health carer) the findings also highlighted that among high-income countries, there is no relationship between national income and national happiness.
So what does contribute to happiness?
Age
As the survey continued to look at other areas of life outside of income, such as life expectancy, the article highlighted, "For most of the world, life satisfaction declines with age; the exceptions being with the highest income countries-including the U.S., the U.K. Canada, Australia, and New Zealand." The study found, in these countries, life satisfaction is "U" shaped. High levels of happiness from 20's decreasing and bottoming out in a persons 50's then increasing again later in life. The study suggests the dip in happiness occurs as people are dealing with the realities of becoming older and mortality, then later realize they are healthy enough to live a full life for the next several years and enjoy more leisure time than in previous years. Related to levels of happiness the article mentioned that in high income countries a persons age is more determinant to national happiness than to national income.
Health Care
An obvious, but overlooked point discussed in the article was the fact that without health, there is very little a person can do to provide them happiness. As a nations ability to provide health care to its' citizens increases and the level of care the citizens receive increases, so does the happiness of the country. This is only true up to the countries basic effectiveness of health care, or the ability to treat major diseases and provide reasonable levels of care for its' citizens. Beyond these levels in health care the correlation between health care and life satisfaction becomes blurred and harder to define relationships.
So what does all of this mean?
Obviously if you are in debt and struggling to pay your bills each month your level of "satisfaction" with life has the potential to increase. And yes more money could help facilitate a happier life getting people out of debt faster, or providing a more secure financial foundation in life. But, the pursuit of more money to provide more happiness, as if the two run along parallel continuums is a false assumption. Studies have found that time affluence, rather than financial affluence, is a better predictor of a persons happiness. Meaning if a person has more free time on their hands they have the potential to be happier than someone who has more money than they know what to do with. So, as you get out of debt and aren't required to work as much to "pay the bills" and have more free time to spend with loved ones, your potential to be happier will increase. Seems reasonable right?
Do the results of this survey surprise you? What do you think is essential to find happiness or satisfaction in life?
I recently read a Gallup World Poll article that surveyed individuals from all over the world, trying to determine what circumstances in life are essential for satisfaction in life. The focus of the "satisfaction study" didn't center on income, rather a range of topics beginning with income, then moving to life expectancy, age as a determinant for satisfaction, and the level of health care the survey respondent's home country was able to provide. I won't bore you with the technical data of the study (if you want to look at the information in more detail just follow the link I provided) I tried to find the key points of the survey to see what people all over the world are saying allows them to be more satisfied with life and how money affects overall life satisfaction.
The article begins by mentioning that the happiness, of a country does not increase over long periods of time, in spite of large increases in per capita income. The third paragraph in this study states these findings, "It is therefore possible that, over the long run, increases in income will generate no increase in life satisfaction." The study went on to report, "In work, income growth provides only a temporary boost to life satisfaction." In fact some studies have found that more income improves happiness only until basic needs are met.
If these facts are true based on a world wide survey, why does everyone seem so obsessed with the notion of money=happiness and satisfaction?
The survey did discuss findings indicating high income countries are happier than low income countries (most likely due to longer life expectancy and better standards of health carer) the findings also highlighted that among high-income countries, there is no relationship between national income and national happiness.
So what does contribute to happiness?
Age
As the survey continued to look at other areas of life outside of income, such as life expectancy, the article highlighted, "For most of the world, life satisfaction declines with age; the exceptions being with the highest income countries-including the U.S., the U.K. Canada, Australia, and New Zealand." The study found, in these countries, life satisfaction is "U" shaped. High levels of happiness from 20's decreasing and bottoming out in a persons 50's then increasing again later in life. The study suggests the dip in happiness occurs as people are dealing with the realities of becoming older and mortality, then later realize they are healthy enough to live a full life for the next several years and enjoy more leisure time than in previous years. Related to levels of happiness the article mentioned that in high income countries a persons age is more determinant to national happiness than to national income.
Health Care
An obvious, but overlooked point discussed in the article was the fact that without health, there is very little a person can do to provide them happiness. As a nations ability to provide health care to its' citizens increases and the level of care the citizens receive increases, so does the happiness of the country. This is only true up to the countries basic effectiveness of health care, or the ability to treat major diseases and provide reasonable levels of care for its' citizens. Beyond these levels in health care the correlation between health care and life satisfaction becomes blurred and harder to define relationships.
So what does all of this mean?
Obviously if you are in debt and struggling to pay your bills each month your level of "satisfaction" with life has the potential to increase. And yes more money could help facilitate a happier life getting people out of debt faster, or providing a more secure financial foundation in life. But, the pursuit of more money to provide more happiness, as if the two run along parallel continuums is a false assumption. Studies have found that time affluence, rather than financial affluence, is a better predictor of a persons happiness. Meaning if a person has more free time on their hands they have the potential to be happier than someone who has more money than they know what to do with. So, as you get out of debt and aren't required to work as much to "pay the bills" and have more free time to spend with loved ones, your potential to be happier will increase. Seems reasonable right?
Do the results of this survey surprise you? What do you think is essential to find happiness or satisfaction in life?
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