A Higher Income Means More Happiness
Have you ever wondered whether wealth and a high income
really create more happiness? If so, you're not alone. Past
surveys claimed there was no correlation between money
and happiness and that people tended to feel good due to
other traits, such as good health, personal freedom, a good
education or social status. Two recent surveys contradict
these findings, and claim there is actually a correlation
between the two. The more recent surveys, one conducted by the Gallup organization and the other by Ipsos, asked people in different countries how satisfied they were with their lives, on a scale of zero to ten.
The more recent surveys, one conducted by the Gallup organization and the other by Ipsos, asked people in different countries how satisfied they were with their lives, on a scale of zero to ten. In rich countries, such as North America, Europe and Japan, most people said they were happy. In the poor countries of Africa most people said they were not. Although there were some poor countries where people said they were quite happy, some better off countries where people regarded themselves less fortunate, declared levels of happiness correlated wealth. These results held true within the various countries as well: rich Americans said were happier than poor ones, just as rich Africans were happier than poorer ones. The happiest people according to these surveys are in Finland and the Netherlands.
The contradiction between these new findings and past surveys can be explained by cultural differences between people in different countries who described happiness differently. It may also be explained by the growing understanding that having money means better health, a better education, more personal freedom, and better life conditions: food, accomodation and recreation. Since wealthy people have better chances of enjoying these things, they have a better chance to feel happier than those who don't have the same means.
Big Money - Big Spending
If you think having a lot of money means saving more, think again.
According to a survey conducted by the HSBC Bank in America,
even people who earn $250,000 a year find it hard to put money
away consistently. Apparently, saving requires more discipline than
we realize.
There are recurring monthly bills at all ends of the income
spectrum. According to the HSBC report, people with more than a
$250,000 household income, a mere 1.5% of U.S. households, face
hardships when it comes to saving too. When HSBC asked what prevented them from saving more, the main reply was: the need to pay everyday bills.
Who is rich now?
If you think rich people were all born that way, their circle is limited,
and once you get inside you stay in this class forever - think again.
By studying the annual list of the richest people in the world
published by Forbes, you can learn a lot about the dynamics of
getting and remaining rich, and view the constant changes among
this group of people.
According to the last list of riches, published in February 2007, the
number of billionaires in the world reached a record of 946, among
them 178 newcomers, including 19 from Russia, 14 from India, 13
from China, and 10 from Spain. Forbes also reported the first
billionaires from Cyprus, Oman, Romania and Serbia.
Forbes's report shows that two-thirds of last year's billionaires are richer, but 17% are poorer, including 32 who fell below the billion-dollar mark. The average billionaire is 62 years old, two years younger than in 2005, which means nowadays younger people are getting rich. The new billionaires are actually seven years younger than the former average.
Another interesting and encouraging fact is that 60% of the billionaires in this list made their fortune from scratch!
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