I’ve learned a ton during the past decade, thanks to reading, interviewing, and massive trial-and-error. I’ve distilled many of these lessons into today’s blog post.
Here are 17 lessons that can improve your money and life.
#1: Money Can’t Make You Happy, But Lack of Money Can Make You Unhappy
They say, “money can’t make you happy.” But that’s false.
Researchers have examined the link between money and happiness — and guess what? Money can make you happy, to an extent. Multiple studies found a significant correlation between money and happiness among people in low-to-middle income brackets.
More money = more happiness, up to a certain level. That’s not surprising. If you used to earn $30,000 per year, and now you earn $50,000 per year, this additional money makes a huge impact. You’re not as stressed.
The wealthier a household becomes, the more this effect diminishes. Each additional dollar in household income produces a smaller incremental boost in happiness.