About Money and Happiness

The photo "Autumn at Yale University". In this exhibition, my attention was drawn to the people on the benches: a girl in the foreground and a young man in the depths of the photo, they are students of the University. They will soon become graduates and, according to recent discoveries, with each passing year after graduation, their level of happiness will depend less and less on their income. Why? The fact is that according to research by two Nobel laureates, the dependence of the level of emotional well-being on the level of income remains highly correlated (strongly influenced) to a certain level of income. This income, according to research, is set at $ 75,000. (So ​​far I do not know exactly why this amount, but studies with different groups confirm this).

Most Ivy League graduates (Yale included) can apply for positions starting at $76,000 and more (according to statistics). After this amount, the dependence on emotional well-being and income decreases, and graduates of Yale University will have a significantly smaller impact on their level of financial growth than, for example, graduates of Ukrainian universities. That is, the impact of income on personal feelings of happiness is reduced in graduates of Ivy League Universities (they have other factors that exacerbate this feeling), compared to graduates of other universities, which will increase their level of happiness as their income increases.

I have found a method of "fighting" this fact, in which, I allow the amount of my income to bring me an equally positive level of emotional well-being. I set a certain level of financial income, which forms the level at which my emotional state becomes neutral, and with any increase, I transfer the rest of the funds to the "untouchable" mode and continue to organize my life for the amount that was previously set. Over time, I found confirmation of this method in the professional literature.

From the point of view of Psychology: the level of your emotional well-being or happiness will depend on the factors you set for yourself and they can change (you can also regulate the frequency and level of influence).

From Money: If money makes you happy, use it and have fun as you stop being a motivator, look for another one, or set a level that will be comfortable for you. No amount will bring happiness if you earn it despite your condition.

Zoryana Golovata.

Leader of the expert group on cognitive management