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Edited by A Fly Lady:
3/11/2013 2:04:24 PM
13
What People Earn
My husband and I watched a new show on the History Channel last night - "What People Earn". In the last few minutes of the show, they showed stats related to salary and happiness. The study showed that the salary where people had the most happiness was $74,000/yr. The study showed that people who make more than this per year were actually less happy.
The show also stated that the Median salary/wage in American is $50,000/yr. We also learned that just 6% of Americans earn more than $100,000/yr.
Talking about what we earn, what our hourly wage is, or what our salary is, is apparently still a very taboo subject and people are uncomfortable talking about what they make. Do you have problems talking about how much you make?
Do you think you'd be happier making more money? Would making more than $74,000/yr make you less happy?
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I don't mind making less than 75,000. I do have a lot of debt though and I want to clear it.
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I'm 18 with a fair amount of money and it definitely makes me happy. I'm studying nursing so I won't be earning much but I'm happy with what I have atm. Most of my clothes are Armani and I bought my own Rolex so I'm definitely living good right now.
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I hear about these studies every few years, but I never see one that goes any deeper than just salary. What about, for instance, savings rate? I think it'd be a fair guess that people with a negative savings rate would be more stressed than those with a positive one, but is it possible to be saving so much that you're less happy because you aren't doing anything with it and enjoying the fruits of your labors? I'd guess so. I wonder where that number is too. And also, what about giving to charity? Anyway, for me personally, I make right around 50k salary. For the position I hold, that's low, but for the county I live in, I make more as an individual than the average [i]household[/i] income. The cost of living here is low, and I live on about 3/4 of what I make. If I made $74k a year, I'd probably put the extra money toward paying off the house and get rid of the mortgage fast. So yeah, I think being able to do that would make me happier.
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3 RepliesEdited by BerzerkCommando: 3/11/2013 10:55:12 PMI don't see how making more would make you less happy. They more money you have means you are able to buy more and things you wouldn't be able to with less money.
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I make 12$ an hour, and Travis makes 19$ an hour. We both work fulltime. We're really content and happy with this amount. It allows us to pay bills, go out and enjoy our 20's, and go on vacation to random places for a weekend. I think it's the thought process on the whole idea that nothing holds any value if you don't have to really work to get it. If you make less than 74k, you actually have to work towards things, but if you make more - like 6 figures - it really doesn't take much to buy what you want. My ex made a good amount of money when I was younger, and he bought me everything I could ever want. That was a big part of why I wasn't happy in the relationship was because I never gave value to the things that I had, even though I wanted to have value in them. So, I'd say that I'm content making less than 74k.
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1 ReplyEarning more would be great, I'm 18 so I'm only starting in the working world. However, I can imagine if you won the lottery, you would suddenly gain more friends, wouldn't need to work to achieve anything etc. Life becomes, depressing if you have nothing to work to.
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I have no issues with talking about my household income. Not saying that having more money coming in would make me happier but I'm sure it would make certain things in life seem a tad easier. That being said, my husband and I know how to live within our means and we are very comfortable with how much we have coming in and how much we have going out.
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yes, 74k would make me less happy, because then I wouldn't be able to pay my mortgage... Currently I make an average of 150k/yr racing. so that much of a change would be devastating to my life.
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I think it depends on the person. People who make more are usually stuck up so don't interact with people as much as the people earning less. I've never understood why people don't talk about how much they earn, I certainly do.
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Edited by brandorobot: 3/11/2013 2:37:07 PMI think that as you move up the income bracket people who make more money probably have a pretty stressful job, which could affect their happiness. In that peak "happiness" range people are living comfortably and working a decent, comfortable job. Just a theory.
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My individual income is just over $50,000. Of course more money would make me happier but Im not bad off by any stretch of the imagination.
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If I made a lot of money . . . I would not want to talk about it. You never want people to know what you have. People these days are greedy and hate everybody who has it better than they do. They will try to get that money out of you somehow.
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Making a butt ton more money would make me much happier.
