Does money buy happiness?

When credit card bills start piling up and home loan repayments start constricting your once carefree lifestyle, it’s easy to blame lack of money for your woes but can money actually buy you happiness?

According to a recent poll for United Nations International Day of Happiness participants indicated they’d choose happiness over money but in an ironic twist, identified money as a significant contributing factor to the happiness in their lives.  

A poll commissioned by Action for Happiness and released for the International Day of Happiness today, has tried to get to the bottom of what’s really important to society after claiming outside influencers are betraying our perception of happiness by telling us it comes in a new dress, with beauty and fame or economic growth.

The poll asked 2,391 UK adults over 18-years-old to choose between ‘money and stuff’ and ‘happiness and wellbeing’ with the survey resulting in 87 percent of the participants choosing happiness over money.  

Of course, with further digging the poll indicates that while the participants would choose happiness over money – they don’t feel they are entirely exclusive from each other.  

Asked to select the three most important factors for their own personal happiness and wellbeing, the top three answers were relationships, health and not surprisingly, money. 80 percent chose relationships and 71 percent believed health was most important, while 42 percent selected money and financial situation.

What the survey actually reveals is that society intrinsically just wants to find happiness but believe money is important to achieving this.

“From a young age Australians are faced with a string of financial decisions and obligations that contribute to living a comfortable, content life,” chief executive officer of RateCity, Alex Parsons, said.

“Financial decisions ranging from opening their first savings account, signing up for a credit card and choosing a home loan play an integral role in the lives of Australians and their long-term security.

“The trick to managing these decisions is to empower yourself through research; compare home loan options, seek out the best credit card rates and look into setting up a high interest savings account so that you feel secure knowing you have invested your hard-earned money wisely and as a result – set yourself up for the best chance of success and happiness.”

Don’t let money rule your happiness – but get out there and find money-savvy ways to live a long and happy life.

Compare savings accounts